Sales of imported light passenger vehicles in South Korea jumped by almost 21% to 21,894 units in August 2020 from 18,122 in the same month of last year, according to member data released by the Korea Automobile Importers & Distributors Association (KAIDA).
That compared with the 5.6% sales rise by the five main domestic vehicle manufacturers, following significant new model launches over the last year by leading brands such as Hyundai and Kia.
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In the first eight months of 2020, sales of imported vehicles increased by almost 15% to 169,908 units compared with 146,889 units in the same period of last year. German brands continued to dominate this segment, with combined sales rising by over 38% to 113,439 units to account for two thirds of total imports.
Mercedes-Benz remained the leading import brand, albeit with sales rising by less than 1% to 47,613 units year to date. The company plans to strengthen its line-up with the launch of three new SUV models in the next two months – including the GLB, the GLA and GLE Coupe models.
BMW reported a more than 40% sales rise to 36,498 units as the company continued to recover from a damaging recall campaign in 2018. Volkswagen has also made good progress in rebuilding its market presence, with its eight month sales rising by 124% to 9,404 units, while Audi sales jumped almost fourfold to 14,443 units and Porsche sales were up 84% at 5,841 units.
Japanese brands continued to suffer from a broad based consumer boycott after a diplomatic spat broke out between the two countries last year.
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By GlobalDataTheir combined sales fell by almost 53% to 13,070 units year to date, with Lexus down by over 49% to 5,049.
