Imported Cars Also Decline... Monthly Sales Volume Halved Compared to Pre-COVID-19 Levels

[Asia Economy Reporter Kiho Sung] Last year, the domestic imported car market, which shrank for the first time in three years, was not spared from the impact of the novel coronavirus infection (COVID-19). The number of new registrations of imported passenger cars in February decreased by 5.2% compared to January.

The Korea Imported Automobile Dealers Association (KAIDA) announced on the 4th that the number of new registrations of imported passenger cars last month was 16,725 units, down 5.2% from January's 17,640 units. Considering that 30,072 units were sold in December last year, just before the outbreak of COVID-19, the monthly sales volume sharply dropped to about half in two months.

However, compared to the same period last year when supply chain disruptions occurred, the imported car performance last month was relatively good. The number of new registrations increased by 5.3% year-on-year.

By brand, Mercedes-Benz ranked first with 4,815 units, but this was about 700 units less than the previous month (5,492 units). Following were BMW with 3,812 units, Chevrolet 973 units, Volvo 928 units, Mini 768 units, Volkswagen 710 units, Audi 535 units, Toyota 512 units, Lexus 475 units, and Land Rover 459 units, making up the top 10.

Next were Jeep with 458 units, Porsche 448 units, Ford 408 units, Honda 360 units, Nissan 267 units, Lincoln 207 units, Peugeot 154 units, Citro?n 130 units, Maserati 79 units, Jaguar 74 units, Cadillac 72 units, Infiniti 37 units, Lamborghini 18 units, Bentley 17 units, and Rolls-Royce 9 units.

The best-selling models in February were BMW 520 (691 units), Mercedes-Benz E 300 4MATIC (670 units), and Mercedes-Benz A 220 sedan (661 units).

By engine displacement, vehicles under 2000cc accounted for the largest share with 11,019 units (65.9%). This was followed by 2000~3000cc with 3,974 units (23.8%), 3000~4000cc with 1,308 units (7.8%), over 4000cc with 235 units (1.4%), and others (electric vehicles) with 189 units (1.1%).

By country, Europe led with 12,956 units (77.5%), followed by Japan with 1,651 units (9.9%), and the United States with 2,118 units (12.7%). By fuel type, gasoline accounted for 10,640 units (63.6%), diesel 4,570 units (27.3%), hybrid 1,326 units (7.9%), and electric 189 units (1.1%).

Park Eun-seok, director of KAIDA, explained, "The new registrations of imported passenger cars in February decreased compared to the previous month due to shortages in supply from some brands and a decrease in visitors."

This content was produced with the assistance of AI translation services.