Imports
The average selling price of imported cars in Korea is about twice their average import price. During the first three quarters of this year, the latter reached 34.3 million won whereas the former totaled 62.87 million won, a five-year high.
The Korea Automobile Importers & Distributors Association announced on November 2 that the total sales and sales volume of imported cars added up to 11.2617 trillion won and approximately 180,000 units during the period, respectively. The average selling price had been as high as 64.41 million won back in 2009.
The rise in average selling price is attributable to an increasing popularity of expensive vehicles. The sales volume of those with a price of at last 100 million won increased by 58.1% from 10,887 to 17,211 between the first three quarters of last year and this year while the overall sales volume of imported cars showed a growth of 22.8%. Still, the average import price edged up from 32.72 million won to 34.3 million won between the two years.
Last year, the sales volume of the expensive cars amounted to 14,979 and 83.2% of them were purchased by corporations or privately-owned businesses. The ratio was no less than 87.4% when it comes to vehicles priced at 200 million won or higher.