Mercedes-Benz and BMW, Intensified Competition for the Top Spot in Imported Cars

Import Car Association October Passenger Car New Registration Status

[Asia Economy Reporter Choi Dae-yeol] Last month, Mercedes-Benz was recorded as the best-selling brand in the domestic imported car market. The competition for the top spot with BMW is expected to intensify until the end of the year.

According to the new registration data released on the 3rd by the Korea Imported Automobile Association, Mercedes sold 7,717 units, the highest number. BMW came in second with 6,754 units. Based on cumulative figures from January to October this year, BMW sold 64,504 units, and Mercedes-Benz sold 63,791 units, with only a few hundred units difference. The cumulative market shares are similar, with BMW and Mercedes-Benz holding 28.6% and 28.3%, respectively.

The third best-selling brand last month was Audi (2,637 units), followed by Chevrolet (1,586 units) in fourth place. Although Korea GM has domestic production facilities, it imports and sells some Chevrolet brand vehicles such as electric cars, pickup trucks, and SUVs.

The total number of new registrations last month was 25,363 units, the highest level in one year and four months since June last year (26,191 units). This represents a 6% increase compared to September and more than a 35% increase compared to the same month last year. Although there are some differences among manufacturers, it is interpreted that the supply volume is increasing as the parts supply shortage gradually eases.

By fuel type, electric vehicles showed strong performance. Last month, the share of new electric vehicle registrations was 19% of all vehicle types, second only to gasoline at 48%. Among the top 10 sales by detailed trim, the Audi Q4 e-tron, Chevrolet Bolt EUV, and Volkswagen ID.4 ranked 3rd, 5th, and 6th, respectively. By brand nationality, European brands strengthened their dominance further. The cumulative market share of European brands from January to October this year was 85%, slightly up from 82% during the same period last year.

Im Han-gyu, Vice Chairman of the Imported Car Association, said, "Despite the semiconductor supply shortage, some brands secured inventory, and due to the effect of new models, sales increased compared to the previous month."

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