Gross sales of imported gentle passenger autos in South Korea elevated by 10% to 24,839 models in September 2024 from 22,565 models a 12 months earlier, in line with registration knowledge launched by the Korea Car Importers & Distributors Affiliation (Kaida).
South Korea report: home gross sales flat in September
Final month’s volumes had been supported by good availability of latest fashions, in line with the affiliation, and properly as by the inclusion of Tesla gross sales this 12 months in contrast with none final 12 months. 12 months-to-date (YTD) volumes had been nonetheless 1.5% decrease at 194,731 models from 197,742 models in the identical interval of final 12 months, primarily reflecting sluggish gross sales within the first half of the 12 months.
General demand for brand spanking new autos in South Korea has weakened this 12 months, because the nation’s closely indebted shoppers reined in spending on huge gadgets. Home producers reported a 9% drop in complete car deliveries to 994,468 models within the first 9 months of the 12 months.
German-owned manufacturers accounted for over 65% of complete import gross sales YTD, with section chief BMW reporting a 4% drop to 54,472 models regardless of the launch of its new 5-series sedan earlier this 12 months whereas its Mini model reported an 18% drop to five,734 models.
Mercedes-Benz noticed its nine-month gross sales fall by 12% to 48,048 models regardless of the launch of the brand new E-series sedan earlier within the 12 months. Volkswagen’s gross sales declined by 15% to five,916 models, whereas Porsche’s dropped by 33% to six,043 models and Audi’s plunged by 54% to six,529 models.
Tesla reported 23,627 gross sales YTD, whereas Volvo’s gross sales fell by 11% to 11,123 models. Toyota loved a 17% gross sales improve to 7,059 models, whereas its Lexus unit noticed its gross sales rise by 1.5% to 10,196 models after performing strongly final 12 months.
Following a serious hearth in an house advanced in Incheon in August, which began in a Mercedes-Benz EQE and unfold to greater than 100 autos, home car producers and abroad manufacturers have begun to reveal extra BEV battery info, together with provider names, to extend transparency and assist alleviate rising concern within the nation over battery security.
Importers are estimated to have accounted for shut to twenty% of BEV gross sales in South Korea year-to-date, led by Tesla and Germany Mercedes-Benz and BMW, whereas China’s BYD is anticipated to enter the market later this 12 months.
“South Korea: import gross sales rise 10% in September” was initially created and printed by Simply Auto, a GlobalData owned model.
The knowledge on this web site has been included in good religion for basic informational functions solely. It isn’t supposed to quantity to recommendation on which you need to rely, and we give no illustration, guarantee or assure, whether or not specific or implied as to its accuracy or completeness. You should get hold of skilled or specialist recommendation earlier than taking, or refraining from, any motion on the premise of the content material on our web site.
