BMW’s new 5 series sedan displayed during the new model’s launching event held at the BMW Driving Center on Yeongjong Island, Incheon, west of Seoul, on Sept. 5, 2023. (Image courtesy of reporter Yim Seong-ho at Yonhap News)
SEOUL, Nov. 3 (Korea Bizwire) – Sales of imported vehicles in South Korea dropped 15.9 percent in October from a year earlier due to weakened demand for foreign electric vehicle (EV) models, industry data showed Friday.
The number of newly registered imported cars last month totaled 21,329 units, compared with 25,363 units a year ago, according to a monthly tally released by the Korea Automobile Importers & Distributors Association (KAIDA).
KAIDA attributed the overall decline to sluggish EV demand. EV sales plummeted 51.4 percent on-year to 2,357 units amid their relatively high prices compared with other model types and a lack of sufficient charging infrastructure.
A total of 9,790 imported gasoline models were sold last month, while sales of hybrid and diesel units reached 7,099 and 1,556, respectively.
Mercedes-Benz was the top selling foreign car brand last month, having sold 6,612 units, followed by BMW, Volvo and Audi each selling 5,985, 1,263 and 1,151 units, respectively.
(Yonhap)
