This photo taken on Oct. 8, 2020 shows Bentley Motors’ FlyingSpur luxury sedan. (Yonhap)
SEOUL, July 5 (Korea Bizwire) — South Korea’s imports of luxury cars, priced at over 300 million won (US$230,570) per unit, continue to grow steadily.
Based on data received from the Ministry of Land, Infrastructure, and Transport, Rep. Yang Kyung-sook of the Democratic Party reported that the cumulative number of registered luxury vehicles with a per-unit price exceeding 300 million won reached 6,299 units by the end of April this year.
The number of new registrations for vehicles with an acquisition price ranging from 300-500 million won surged from 199 units in 2016 to 1,115 units last year.
Likewise, the number of new registrations for vehicles with an acquisition price exceeding 500 million won increased from 25 units to 267 units during the same period.
As of April this year, the count of vehicles priced between 300-500 million won stood at 323, up from 237 a year ago, while the count of vehicles exceeding 500 million won rose from 71 to 77.
British luxury carmaker Bentley Motors Ltd. secured its position as the leading market in the Asia-Pacific region, with South Korea accounting for about 38 percent of its total sales. The company sold 775 vehicles in the country last year.
Rolls-Royce Motor Cars also achieved record-breaking sales in Korea last year, selling 234 units, according to the Korea Automobile Importers & Distributors Association.
J. S. Shin (js_shin@koreabizwire.com)
