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South Korea's imported car sale posts double-digit growth in August

Christian Fernsby ▼ | September 3, 2020
South Korea's imported car sale posted a double-digit growth in August thanks to strong demand for European luxury brands, industry data showed Thursday.
South Korea cars
August   South Korea cars
The number of imported vehicles sold here was 21,894 in August, up 20.8 percent from a year earlier, according to the Korea Automobile Importers & Distributors Association (KAIDA).

Topics: Korea

Demand for European brands remained solid. German automaker BMW ranked first in terms of vehicle sale here by selling 7,252 units, followed by German carmaker Mercedes-Benz with the sale of 6,030 units.

The number of European vehicles sold here was 18,937 in August, taking up 86.5 percent of the total. It was trailed by U.S. brands with a market share of 7.1 percent and Japanese models with 6.4 percent each.

The sale of imported cars with an engine capacity of less than 2 liters made up 65.9 percent of the total, followed by foreign vehicles with a displacement of 2-3 liters taking up 24.4 percent.

During the January-August period, the number of foreign brands sold locally totaled 146,889, up 15.7 percent from the same period of last year.