Sales of imported vehicles in South Korea increased by over 25% to 196,359 units in 2014 after expanding by almost 20% to 156,497 units in 2013, according to a report released by the Korea Automobile Importers and Distributors Association.
Almost 25% of these were premium vehicles priced at over KRW70m (US$64,000), reflecting the growing number of wealthy customers in the country and rising demand for exclusive brands and products that will differentiate them.
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Sales of foreign vehicles priced at KRW150m and higher increased by over 92% to 5,616 units last year while sales of cars priced below KRW30m fell by over 10% to 5,036 units.
