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Popularity of German Car Brands Remaining High in South Korea
German Car Brands
Popularity of German Car Brands Remaining High in South Korea
  • By Jung Min-hee
  • April 15, 2016, 02:00
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The three German car importers—Mercedes-Benz, BMW and Audi Volkswagen -- achieved excellent performances particularily in net profits.
The three German car importers—Mercedes-Benz, BMW and Audi Volkswagen -- achieved excellent performances particularily in net profits.

 

 

According to industry sources, Mercedes Benz Korea recorded domestic sales of more than three trillion won in the South Korean market last year. During the same period, each of BMW Korea and Audi Volkswagen Korea posted domestic sales of approximately 2.8 trillion won, too.

Meanwhile, GM Korea’s sales in the South Korean market totaled 2.5501 trillion won and those of Ssangyong Motors and Renault Samsung Motors were 2.5004 trillion won and 2.1499 trillion won, respectively.

It was the first time when import car brands ranked third to fifth in terms of sales in the market, following Hyundai Motor and its smaller sister company Kia Motors. 

The gap between the two groups is even wider when it comes to net profits. Mercedes Benz Korea recorded 88.7 billion won in net profit last year while the amount was 46.4 billion won for BMW Korea and 32.2 billion won for Audi Volkswagen Korea. Although Renault Samsung Motors posted a current net profit of 251.2 billion won, Ssangyong Motors and GM Korea recorded 61.9 billion won and 986.8 billion won in net loss, respectively.

The three German car importers achieved the excellent performance with a sales volume less than half of that of the three car manufacturers in South Korea. For instance, Mercedes Benz Korea, whose main products are expensive luxury cars such as S-Class and E-Class, sold 46,994 cars in South Korea last year, when GM Korea’s annual sales volume amounted to 158,404.