Expected Models Still Popular
New registrations of imported cars slowed down amid high interest rates in Korea in April.
The Korea Automobile Importers & Distributors Association (KAIDA) said on April 4 that new registrations of imported passenger cars totaled 20,910 units in Korea in April, down 12.3 percent from 23,840 units in March and 9.4 percent from 23,070 units in April 2022.
By brand, there were 6,176 registrations for Mercedes-Benz, 5,836 for BMW, 1,599 for Volvo, 1,146 for Porsche, 1,025 for Lexus, 946 for MINI, 706 for Chevrolet, 675 for Volkswagen, 638 for Toyota, and 473 for Audi.
By country, there were 17,625 registrations (84.3 percent) for cars from Europe, 1,718 (8.2 percent) for those from Japan, and 1,567 (7.5 percent) for those from the United States. By fuel, there were 9,632 registrations (46.1 percent) for gasoline-powered cars, 6,852 (32.8 percent) for hybrids, 1,598 (7.6 percent) for diesel cars, 1,866 (8.9 percent) for electric vehicles, and 962 (4.6 percent) for plugin hybrids.
By customer type, 62.0 percent of the newly registered imported cars were purchased by individuals and 38.0 percent by legal bodies. The top three best-selling models in April were the BMW 520 (772 units), Mercedes-Benz E 350 4MATIC (659 units), and the Lexus ES300h (648 units).