The Korean market is more and more open to imports
- In the first 4 months of 2014, five Korean manufacturers (Hyundai, Kia, GM Korea, Renault Samsung and SsangYong) sold 382 000 vehicles in their local market, an increase of 6.1% compared to the same period in 2013.
- By category, sales of large cars (segments E and F) increased by 64% (to 20 000 units), sales of SUVs rose by 27% (106 000 units) and sales of urban vehicles (segments A and B) rose by 6% (to 63 000 units). In contrast, sales of compact cars (segment C) and medium size sedans (segment D) decreased in the first four months of the year (to 193 000 units), but still remain the most popular cars with Korean customers.
- Moreover, it is interesting to note that sales of imported cars in South Korea continue to take market share from Korean manufacturers. Totalled 17 000 units in April (+25%), bringing the sales volume for the first four months of the year to 61 000 units, representing an increase of nearly 27%, an increase four times higher than the one experienced by the Korean market as a whole.
- BMW was the best-selling foreign brand over the four months (13 698 units) , followed by Mercedes (11 256 units), Volkswagen (9 668 units), Audi (8 761 units). 80% of imported cars sold were European , most of which were German. 13% were represented by Japanese brands and 7% were American brands.
Contact us: info@inovev.com