Imported light passenger vehicles continued to gain ground in South Korea last month, with sales rising by 5% to 29,640 units from 28,222 units a year earlier according to registration data released by the Korea Automobile Importers & Distributors Association (KAIDA).
Improved semiconductor supplies and new models have allowed global vehicle manufacturers to fulfill back orders and claw back market share losses from earlier in the year.
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Over the full year deliveries were up by close to 3% at 283,435 units from 276,146 units in 2021, while local sales by domestic manufacturers fell by 3% to 1,392,179 units.
German-owned brands accounted for around 77% of imported light vehicle sales in 2022, or 218,304 units, led by Mercedes-Benz with a 6% rise to 80,976 units helped by a strong fourth quarter recovery. The company launched the new C-class range early last year, followed by the EBQ and EQE electric vehicles.
BMW came second, despite an almost 20% sales increase to 78,545 units, with demand lifted by the launch of the iX1 and iX3 battery powered SUVs at the end of 2021 and the i4, new 7- and 8-Series, X7 models last year. Mini full year sales were just slightly higher at 11,213 units.
Volkswagen reported a 10% sales rise to 15,791 units last year while Audi sales dropped 16% to 21,402 units and Porsche deliveries were up 6% at 8,963 units.
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By GlobalDataLocal distributor Volkswagen Group Korea stepped up its new model launches last year with a number of new and upgraded models including the Audi Q4 e-tron and VW ID.4 in September.
Volvo sales fell 44% to 14,431 units last year, despite launching the C40 Recharge, the first of seven battery powered models it plans to launch by 2030.
Toyota sales were down 3% at 6,259 units while Lexus reported a 22% plunge to 7,592 units with deliveries disrupted significantly by supply chain shortages. Lexus plans to launch the battery-powered RZ 450e SUV this year as part of its plans to go all electric by 2035.
