Demand for foreign cars in Korea at new high

Demand for foreign cars in Korea at new high

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Demand for imported cars in Korea has increased in recent times. The number of imported cars sold in the country exceeded within a month to more than 20,000 for the first time. The recent development has indicated that the market for imported cars might be promising in Korea.

Companies are waiting to watch if imported cars can take up to 20 percent of domestic car market. At present 70% of the car market is dominated by the domestic car manufacturers including Hyundai and Kia. There are also a few other local companies including Renault Samsung, GM Korea and Ssangyong.

The Korea Automobile Importers and distributors informed that 22,280 units of imported cars were newly registered in March which marked an increase of 32.9 percent from a month before. Even the German cars showed a great performance in the market. Luxury car maker BMW was the biggest car seller with 4,003 units after which stood Audi with 3,895 units, Mercedes Benz with 3,639 and Volkswagen with 3,264.. The total sales of the cars came to a total of 70 percent.

Some of the best selling models included the Volkswagen Tiguan 2.0 TDI Blue Motion with 1,046 units sold. Some of the other noteworthy brands which caught popularity included Ford/Lincoln, Lexus, Minis’ and Land Rovers.