Imported Cars Continued Strong Sales Last Month... Up 33.3% YoY

Benz and BMW Duel for Dominance... Korean GM, Renault Samsung, and Ssangyong Motor Lag Behind in Domestic Sales

Mercedes-Benz E-Class

[Asia Economy Reporter Ki-min Lee] The surge in imported car sales continues steadily. Mercedes-Benz and BMW sales have surpassed domestic sales of Korea GM, Renault Samsung, and SsangYong Motor this month, following last month.

The Korea Automobile Importers & Distributors Association (KAIDA) announced on the 4th that the number of newly registered imported passenger cars in February reached 22,290 units, a 33.3% increase compared to the same period last year. This represents a 33.3% increase year-on-year and a 0.1% decrease compared to the previous month. However, considering that January had 21 business days and February had 18, the average daily new registrations in February (1,273.3 units) exceeded those in January (1,062.9 units).

Sales of eco-friendly vehicles such as hybrids, plug-in hybrids, and electric vehicles, as well as high-end vehicles, stood out. Hybrid sales reached 4,080 units, a 274% increase compared to the same period last year; plug-in hybrids sold 1,597 units (582.5%), and electric vehicles 190 units (0.5%). Among high-end vehicles, Porsche sold 912 units, a 34% increase from the previous month; Maserati (65 units) increased by 48%, and Lamborghini (31 units) by 63% respectively.

German car sales also showed strong performance. Monthly registrations by brand were Mercedes-Benz 5,707 units, BMW 5,660 units, Audi 2,362 units, and Volkswagen 1,783 units. Following these were Volvo with 1,202 units, Porsche 912 units, Mini 895 units, and Chevrolet.

In particular, Mercedes-Benz and BMW continued to lead sales this month as well, surpassing Korea GM (domestic 5,098 units), Renault Samsung (domestic 3,900 units), and SsangYong Motor (domestic 2,673 units), ranking third and fourth in domestic sales after Hyundai Motor (including Genesis) and Kia. By individual models, Mercedes-Benz E 250 (862 units), Volkswagen Jetta 1.4 TSI (753 units), and Mercedes-Benz GLE 400 d 4MATIC Coupe (694 units) took the top three spots.

Im Han-gyu, Vice Chairman of KAIDA, explained, "Despite the shortage of business days in February, new registrations of imported passenger cars remained similar to the previous month, and increased year-on-year due to new model effects and securing supply." Professor Lee Ho-geun of Daeduk College's Department of Automotive Engineering analyzed, "In a situation where public transportation use is being avoided due to COVID-19, demand for imported cars has increased due to income polarization and consumer sentiment."

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