Sales of imported light passenger vehicles in South Korea rose by 24% to 20,199 units in February 2025 compared with 16,237 units a year earlier, according to registration data released by the Korea Automobile Importers & Distributors Association (Kaida).
Import sales in the first two months of the year increased by over 20% to 35,428 units from weak year-earlier sales of 29,320 units, when deliveries were affected by shipping delays caused by geo-political tensions in the Red Sea. Overall demand for new vehicles in South Korea remains sluggish, however, amid weak domestic economic growth and high consumer debt. Domestic sales of vehicles produced by the five main local manufacturers rose by less than 1% to 203,405 units in the two-month period.
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Hybrids accounted for 69% of import sales year-to-date, or 24,564 units, followed by petrol vehicles with 6,060 units, battery electric vehicles (BEVs) with 4,392 units and diesel models with 412 units.
BMW reported a 17% sales rise to 12,234 units in the first two months of the year, while sales by its Mini subsidiary plunged by 40% to 772 units. Together, they accounted for 37% of total import sales. Mercedes-Benz saw its sales rise by 30% to 8,453 units in this period, while Volvo’s sales increased by 8% to 2,079 units and Tesla sold 2,227 units. Toyota saw its sales plunge by 31% to 1,053 units year-to-date, while its Lexus division reported a 28% rise to 2,463 units. The data do not include sales by BYD, which launched sales operations in January.
