Sales of imported light passenger vehicles in South Korea fell by 4% to 23,784 units in November 2024 compared with 24,740 units a year earlier, according to registration data released by the Korea Automobile Importers & Distributors Association (Kaida). The country’s five main domestic vehicle manufacturers also reported weak local sales last month, with combined volumes falling by over 6% to 123,616 units.
Hybrid electric vehicles (HEVs) accounted for just over 50% of total imports in November, while petrol-driven models accounted for 22% and plug-in hybrids accounted for a further 20%, according to the association.
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In the first eleven months of the year import sales declined by just under 2% to 239,764 units from 243,811 in the same period of last year, with German-owned brands accounting for 66% of the total. BMW reported a 3% drop to 67,250 units despite the launch of its new 5-series sedan at the beginning of the year, while its Mini brand reported a 21% drop to 6,888 units.
Mercedes-Benz saw its sales fall by almost 13% to 59,561 units year-to-date (YTD), despite the recent launch of the new E-series sedan. Volkswagen’s sales declined by 12% to 7,734 units, while Porsche’s dropped by 28% to 7,516 units and Audi’s plunged by 50% to 8,386 units.
Tesla reported 28,498 sales YTD compared with none last year, while Volvo’s sales fell by 12% to 13,603 units. Toyota enjoyed a 13% sales increase to 8,614 units, while its Lexus unit saw its sales rise by 5% to 12,849 units after making strong gains last year.
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