South Korea’s sales of imported vehicles rose 15pc in September with a strong demand for German cars according to Korea Automobile Importers & Distributors Association (KAIDA). In September, domestic car sales in Korea rose by 0.9pc from the prior year, according to local media.
Sales of imported cars in September stood at 21,839 units up from the prior year. Models of Mercedes Benz and Audi were among the popular consumer choices. In a period of nine months, German car sales rose 34pc after having sold 128,903 units compared to the prior year.
On the other hand Japanese carmakers are struggling to attract sales despite aggressive marketing as Toyota, Honda and Nissan. These carmakers’ sales are down following the trade spat between Seoul and Tokyo. Japanese car sales plunged 49pc in Jan-Sep period to 14,528 units compared to a year ago. As a result of low sales for Japanese carmakers, Nissan has decided to withdraw its South Korean operations by December.
KAIDA said that market share of imported car brands accounts for 19pc which is up by 15pc from the prior year. Industry data also revealed that domestic car manufacturers sold around 703,247 units, up 0.9pc in September from the prior year. This included sales of Hyundai, Kia, Ssangyong, Renault Samsung and GM Korea. Local enquires have increased which resulted in higher sales in September.