SEOUL, Jan 4 (NNN-YONHAP) – South Korea’s imported car sale rose in single digits last year, due to robust demand for German luxury vehicles, industry data showed today.
The number of imported vehicles sold here was 283,435 in 2022, up 2.6 percent from the previous year, according to the Korea Automobile Importers & Distributors Association (KAIDA).
It was attributed to solid demand for German brands, and the moderated supply disruptions of chips used to make vehicles.
German carmaker, Mercedes-Benz, ranked first, in terms of automotive sales here, among foreign companies, by selling 80,976 units, last year.
Another German automaker, BMW, came next with the local sale of 78,545 units, followed by Audi with 21,402 units, Volkswagen with 15,791 units and Volvo with 14,431 units.
The number of European models sold here was 241,449 in 2022, accounting for 85.2 percent of the total.
U.S. and Japanese brands recorded the market shares of 8.8 percent and 6.0 percent each.
Source: NAM NEWS NETWORK