Sales of imported vehicles in South Korea jumped by over 26% to 21,075 in January from 16,674 units a year earlier, according to data released by the Korea Automobile Importers and Distributors Association (KAIDA).
The association said eight of 10 imported passenger vehicles sold in the country last month were from Germany, with Mercedes-Benz and BMW dominating this segment. The best-sellers were the Mercedes-Benz E300 and E200 plus the BMW 520d.]
Go deeper with GlobalData
Audi resumed sales in South Korea at the end of last year after it withdrew in 2016 in the wake of the Volkswagen group emissions cover up scandal. VW marked its return to the market last week with the launch of the Passat.
The association expects demand for imported vehicles to continue to grow by around 10% to 256,000 units, from 233,088 units in 2017, as South Korea consumers look to increasingly diversify their purchases.
Premium brands have stepped up marketing efforts in South Korea in recent months and are increasingly attracting new customers with new driving centres offering the opportunity to experience luxury and high performance models.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
