South Korea’s imported auto sales slump

Economic data published on Monday showed South Korea’s imported car sales last month fell 9.2% annually due to a lack of imports from some brands.

The South Korean Federation of Automotive Metro and Distributors said the number of imported vehicles registered over the past month was 21,339, compared with 23,512 during the same month last year.

The federation added that the three best-selling models over the past month were me. M ‘ W520 Salon & E. 300H Salon from Lexus, and 350 Formatic from Mercedes.

South Korea’s Yonhap news agency noted that 3 German brands, the Volkswagen Korea Group, the BMW Korea Group and Mercedes-Benz Korea, sold a vehicle 15097 a 14% decline over the same month last year in South Korea.

In contrast, 3 Japanese brands, “Honda Motor”, “Toyota Motor” and its independent brand, “Lexus”, sold 1709 cars in South Korea over the past month with a 50% annual increase.

Imported brands accounted for 16.24% of the Korean ride-hailing market in April, compared to 18.71% during the same month last year, while the Union did not declare the market share of imported cars during the last month.