August New Imported Car Registrations Reach 22,116 Units... 1.0% Increase Year-on-Year

Domestic Complete Vehicle Industry Shrinks 5.0% 'Negative Growth'
Mercedes-Benz and BMW Solidify 3rd and 4th Positions in Overall Car Market

[Asia Economy Reporter Yu Je-hoon] The number of new registrations for imported cars last month increased by 1.0% compared to the previous year. This comes amid a decline in domestic sales by Korean automakers due to the impact of the global semiconductor shortage for vehicles.

The Korea Imported Automobile Dealers Association (KAIDA) announced on the 3rd that the number of new registrations for imported passenger cars in August reached 22,116 units, a 1.0% increase compared to the same month last year. Accordingly, the cumulative number of new registrations from January to August this year was 194,262 units, up 14.3% from the same period last year.

By brand, Mercedes-Benz sold 6,734 units and BMW sold 5,214 units, maintaining the 1st and 2nd positions in the imported car market and 3rd and 4th in the overall domestic automobile market. Following them were Audi (1,341 units), Volkswagen (1,305 units), Volvo (1,152 units), Mini (969 units), Chevrolet (946 units), Lexus (933 units), and Porsche (657 units).

By engine displacement, registrations were 13,384 units (60.5%) under 2,000cc, 5,861 units (26.5%) between 2,000cc and under 3,000cc, 2,214 units (10.0%) between 3,000cc and under 4,000cc, 279 units (1.3%) over 4,000cc, and others (electric vehicles) 378 units (1.7%).

By country of origin, Europe accounted for 18,117 units (81.9%), the United States 2,081 units (9.4%), and Japan 1,918 units (8.7%). By fuel type, gasoline vehicles were 11,359 units (51.4%), hybrids 6,353 units (28.7%), diesel 2,950 units (13.3%), plug-in hybrids 1,076 units (4.9%), and electric vehicles 378 units (1.7%).

By purchase type, individual purchases accounted for 14,386 units (65.0%) and corporate purchases 7,730 units (35.0%). Among individual purchases, registrations by region were Gyeonggi 4,609 units (32.0%), Seoul 3,223 units (22.4%), and Busan 816 units (5.7%). For corporate purchases, registrations by region were Incheon 2,848 units (36.8%), Busan 1,765 units (22.8%), and Daegu 917 units (11.9%).

The best-selling models in August were the Benz E250 (1,586 units), Volkswagen Tiguan 2.0 TDI (820 units), and Chevrolet Colorado (661 units). According to Korea GM’s own data, the Chevrolet Colorado showed a high sales growth rate of about 600% compared to the previous year last month.

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