Sales of new, imported vehicles in South Korea rose by 19.6% to 156,497 units in 2013, from 130,858 units in the previous year, according to the Korea Automobile Importers and Distributors Association (KAIDA).
This is the highest market share yet for imports, exceeding 10% of the new vehicle market for the first time, while Hyundai and Kia reported domestic sales declines of 4% and 5% respectively.
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The association attributes the increase in import sales to the growing popularity of diesel powered vehicles, a key strength among European manufacturers, and aggressive marketing.
Foreign brands are also increasingly seen as exclusive, particularly among young buyers, in a market dominated by domestic brands.
BMW led the import sector with 33,066 sales last year, followed by Volkswagen with 25,649 units and Mercedes-Benz with 24,780 units. The best-selling import model was the BMW 520 diesel with 8,346 units.
European cars accounted for 78.5% of total imports, with Japanese brands accounting for 14.1% of the total and US brands 7.4%.
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By GlobalData
