Sales of imported light passenger vehicles in South Korea increased by 6.2% to 22,101 units in October 2019 from 20,813 units in the same month of last year, according to member data released by the Korea Automobile Importers & Distributors Association (KAIDA).
Sales of German brands combined jumped by close to 48% to 14,997 units last month from 10,159 units a year earlier, helped by the launch of new models and also as BMW rebounded strongly from weak year-earlier sales.
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Japanese brands continued to suffer from abroad-based consumer boycott after the two countries fell out over demands for Japan to provide further compensation for South Korean World War II victims. Combined sales of Japanese brands fell by over 58% to 1,977 units last month, with Toyota-Lexus the worst hit with a 74% fall to 864 units.
Overall import sales in the first ten months of the year were down by 13.2% at 189,194 units from 217,868 units in the same period of last year, with the segment's overall performance over the last year also affected by a major recall by BMW following a series of well-publicised engine fires.
The leading import brand, Mercedes-Benz, reported a 10.2% sales increase to 62,933 units in the ten-month period, while BMW sales were almost 24% lower at 34,383 units; Lexus 10,88 2units (+10.3%); Volvo 8,914 units (+23.9%); Toyota 8,508 units (-35.9%); Chrysler 8,455 units (+39.9%); Mini 8,290 units (+3.8%); and Honda 7,262 units (+17.8%).
BMW Group Korea last month said it is targeting more than 10,000 Mini sales in South Korea this year, as part of its efforts to recover from last year's hugely damaging recall involving some 171,000 vehicles – which the company says is in its final stages.
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By GlobalDataMercedes-Benz launched its EQC400 4MATIC all-electric SUV model to its lineup last month, priced at KRW105m (US$89,000), to help consolidate its position as the leading import brand.
