SEOUL, June 11 (Korea Bizwire) — The popularity of high-end imported auto brands such as Lamborghini, Bentley, and Porsche is growing in South Korea, mainly driven by purchases from corporate bodies.
The Korea Automobile Importers and Distributors Association reported Wednesday that Lamborghini sales this year had reached 84 cars as of April, up by 265 percent on year.
Among them, 79 cars (94 percent) were purchased by companies, while only five cars were purchased by private individuals. Seven Lamborghini Aventadors and six Lamborghini Huracáns, in particular, were purchased by corporate bodies.
Companies bought 39 Rolls-Royces (93 percent) out of 42 cars sold this year, as well as 53 Bentleys (84 percent) out of 63 cars sold.
The problem, however, is that many of the cars bought by companies are being used by individuals.
A recent probe by the National Tax Service revealed that 9 out of 24 people who were audited owned 41 cars under a corporate name.
One of them turned out to be owning seven cars, while two other individuals each owned six cars under company name.
Image Credit: Yonhap / email@example.com