'Record-Breaking Sales' Imported Cars, What About 2021?

In addition to complete redesign models like the S-Class,
electric vehicles such as the Mercedes-Benz EQS·EQA and Audi e-tron Sportback

Volkswagen T-Roc (Photo by Volkswagen Korea)

[Asia Economy Reporter Kim Ji-hee] The domestic imported car market enjoyed a record-breaking boom last year despite the COVID-19 pandemic. With forecasts predicting the highest sales ever, the imported car industry aims to continue its upward trend this year by introducing a variety of new models.

According to the Korea Automobile Importers & Distributors Association (KAIDA), cumulative imported car sales from January to November last year reached 243,440 units, a 13.4% increase compared to the same period the previous year. This performance nearly matches the total sales volume of 2019 within just 11 months. Since December typically sees increased vehicle sales due to year-end marketing by brands, it is expected that the previous annual record of 260,705 units set in 2018 will be surpassed without difficulty.

The number of brands joining the 10,000-unit club more than doubled amid the strong imported car sales. By November last year, Mercedes-Benz sold 67,333 units, and BMW sold 52,644 units. Audi and Volkswagen also exceeded 10,000 units, with 22,404 and 14,886 units respectively. Chevrolet, which officially transformed into an imported car brand last year (11,416 units), along with Volvo (11,446 units) and MINI (10,152 units), also joined the 10,000-unit club. Including Tesla, which is not included in KAIDA statistics, a total of eight imported car brands achieved sales exceeding 10,000 units.

The industry is also moving quickly to capitalize on the expanding imported car market. This year, they plan to continue attracting demand by launching significant new models.

First, Mercedes-Benz, which is expected to surpass 70,000 units again in 2020, will release the 7th generation full redesign of the S-Class, regarded as the flagship imported sedan. It is anticipated to feature cutting-edge technologies such as ‘rear axle steering’ for agile handling similar to compact cars and Level 4 autonomous parking assistance. Additionally, electric vehicle brand EQ will introduce models like the EQA and EQS.

BMW is preparing to launch the 4 Series, M3, and M4 Coupe. The new 4 Series, featuring BMW’s new design language, has already attracted attention in the European and American markets. The high-performance M3 and M4 Coupe are equipped with a 3.0ℓ twin-turbo engine delivering a maximum output of 480 horsepower.

Volkswagen will deploy the T-Roc and Teramont as part of its 5T strategy. Given Volkswagen’s recent trend of selling out every new model, expectations for these new releases are high. Audi plans to accelerate its electrification strategy by adding models such as the e-tron Sportback, launched last year.

An industry insider said, "While last year’s imported car market saw many new volume models, this year will feature not only some volume model launches but also completely new models. With the continuous release of highly competitive new cars, the imported car market is expected to maintain its strong performance this year as well."

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