Imported car sales in January surged 16.4% compared to last year’s period, driven by aggressive new vehicle discount promotions.
On Wednesday, the Korea Automobile Importers and Distributors Association (KAIDA) announced that 15,229 new registrations of imported passenger vehicles were made last month.
BMW led the market with 5,960 units sold, followed by Mercedes-Benz (3,790), Lexus (1,126), Volvo (1,033), Porsche (644), Toyota (430), and Ford (366).
By fuel type, hybrid vehicles dominated sales with 11,551 units (75.8%), followed by gasoline (2,834 units, 18.6%), electric (635 units, 4.2%), and diesel (209 units, 1.4%). Hybrid models accounted for three out of four imported cars sold in Korea, continuing their strong presence in the market.
Hybrid vehicles surpassed 70% of monthly imported car sales for the first time. Meanwhile, electric vehicle sales remained relatively low at 4.2%, as government subsidies had yet to be determined. Diesel vehicles, once a defining feature of imported cars, now represent just over 1% of sales.
The BMW 5 Series was the best-selling model with 1,804 units sold, followed by the Mercedes-Benz E-Class (1,438), Lexus ES (632), Mercedes-Benz GLS (607), BMW X5 (564), and BMW X3 (532).
By country of origin, European brands led with 12,697 units (83.4%), followed by Japanese brands with 1,733 units (11.4%) and U.S. brands with 799 units (5.2%).
KAIDA Vice President Jung Yoon Young stated that despite fewer business days due to the Lunar New Year holiday, January’s imported car registrations increased thanks to inventory adjustments for some brands and strong promotional campaigns.
