New Model Launch Effects Boost Sales in October
Despite the COVID-19 pandemic, sales of imported cars continue to rise, fueled by new model launch effects.
The Korea Automobile Importers and Distributors Association (KAIDA) announced on Nov. 4 that 24,257 imported cars were newly registered in October, up 9.8 percent from 22,101 in the same month of 2019. Compared to 21,839 units in October, the number grew 11.1 percent. Cumulative sales in the first 10 months of the year hit 216,004 units, up 14.2 percent from the same period of 2019.
By brand, Mercedes-Benz sold 6,576 units in October to maintain its No. 1 position. However, the figure is down 18.1 percent from the same month of 2019. Mercedes-Benz enjoyed new car effects in October by launching The New E-Class, a partially changed model of the 10th-generation E-Class, and the plug-in hybrid sport utility vehicle The New GLC 300 e 4MATIC.
BMW came in second with 5,320 units, up 29.1 percent from a year earlier, followed by Audi with 2,527 units, Volkswagen with 1,933 units, Volvo with 1,449 cars, Jeeps with 937 units and Mini with 890 units.
By country, U.S. brands sold 2,888 units, up 53.5 percent from 2019. European brands’ sales rose 7.6 percent to 19,634 units, with sales of Swedish brands up 54.1 percent from 2019.
Sales of Japanese brands which had been recovering since August fell 12.2 percent from 2019 to 1,735 units. However, thanks to the popularity of hybrid models, sales of Lexus (871 units) and Toyota (553 units) grew 91.0 percent and 35.5 percent, respectively. Honda sales declined 61.4 percent to 311 units.
The best-selling model in October was the Volkswagen Tiguan 2.0 TDI, which sold 1,089 units. The Volvo XC40 B4 AWD (1,017 units) came in second, followed by the BMW 520 (834 units), the Audi A6 45 TFSI (734 units), the Mercedes E 220 d 4MATIC (622 units) and the Mercedes-Benz GLA 250 4MATIC (585 units).
“The number of new imported cars registered in October increased from the previous month due to the effects of some brands' new model launches and securing enough volume,” said Lim Han-kyu, vice chairman of the Korea Automobile Importers and Distributors Association.