"Imported Car Market Share 70%"... The Sprint of German Cars

Over 110,000 Units Sold from January to August This Year
Last Month's Market Share Reached 76%

2020 Tiguan 4Motion Prestige (Photo by Volkswagen Korea)

[Asia Economy Reporter Kim Ji-hee] German car brands are expanding their presence in the imported car market. While other brands from Japan, the United States, and elsewhere have faltered, most German brands such as Mercedes-Benz, BMW, Audi, and Volkswagen are performing steadily.

According to the Korea Imported Automobile Association on the 5th, German car brands sold 16,739 units domestically in August, a 38.3% increase compared to the same period last year. The cumulative sales volume from the beginning of this year to last month reached 113,799 units, surpassing 100,000. Their share of the total imported car market jumped significantly from 55.9% last year to 67% this year. Last month's market share reached an impressive 76.5%.

The increased market share appears to have been absorbed from Japanese car brands. From January to August last year, Japanese cars held an 18.8% market share, but during the same period this year, it shrank to 7.7%. The boycott of Japanese products caused demand to shift toward German cars.

While Mercedes-Benz and BMW, the two dominant players in the imported car market, have maintained steady sales, Audi and Volkswagen are also showing strong upward trends. By expanding their product lineups through new model launches and securing supply, they are showing a markedly different performance compared to last year when they were virtually inactive. Based on January to August figures, Volkswagen sold more than three times as many vehicles as last year, and Audi's sales jumped more than fivefold. The top five imported car brands in sales this year are all German brands.

Industry insiders predict that it will be difficult for other brands to stop the German brands' dominance anytime soon. Mercedes-Benz and BMW continue to show strong performance, and Audi and Volkswagen are launching full-scale offensives to regain their pre-Dieselgate status. Even Japanese car brands, which had a considerable presence in the domestic market, are expected to find it difficult to recover sales quickly.

An industry official said, "Mercedes-Benz and BMW, which have been in the domestic market for over 20 years, already have full lineups and are now filling niche demands with detailed lineups such as high-performance cars," adding, "In addition, Audi and Volkswagen have shaken off supply shortages this year and started aggressive marketing, rapidly increasing their market share."

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