SEOUL, Oct. 10 (Korea Bizwire) – Sales of imported vehicles in South Korea rose more than 30 percent in September from a year ago, driven by strong demand for Tesla and steady sales of hybrid and electric vehicles (EVs), industry data showed Friday. According to the Korea Automobile Importers & Distributors Association (KAIDA), the number [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s imported car market is on a sharp rebound in 2025, reversing a two-year contraction as demand for eco-friendly and high-end models soars, supported by a wave of new releases and increased purchases by consumers in their 40s and corporate buyers. According to the Korea Automobile Importers & [...]
SEOUL, July 17 (Korea Bizwire) — Imported vehicle registrations in South Korea have surged 38-fold over the past three decades, driven by diversifying consumer tastes, an industry association said Thursday. Annual imported car registrations rose from just 6,921 units in 1995 to 263,288 last year, the Korea Automobile Importers and Distributors Association (KAIDA) said in [...]
SEOUL, June 5 (Korea Bizwire) — Tesla topped South Korea’s imported passenger car sales for the first time last month amid a sharp increase in electric vehicle (EV) demand, industry data showed Thursday. According to the Korea Automobile Importers & Distributors Association (KAIDA), 28,189 imported passenger cars were newly registered in May, up 16.4 percent [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales of imported luxury cars priced over 100 million KRW (approximately $70,000) declined in South Korea for the first time in eight years, impacted by economic downturns and new regulations on corporate vehicle registration. According to the Korea Automobile Importers & Distributors Association (KAIDA), 62,520 high-end imported vehicles were sold [...]
SEOUL, Apr. 16 (Korea Bizwire) — In a significant shift within South Korea’s imported car market, hybrid vehicle sales surpassed gasoline-powered models for the first time in the first quarter of this year, signaling a robust trend favoring hybrid offerings. Following the initial milestone in November 2023, when hybrid cars outsold gasoline variants on a monthly [...]
SEOUL, Feb. 29 (Korea Bizwire) — Imported car purchases among those in their 20s and 30s fell nearly 18 percent on-year in 2023 amid a slowdown of the economy and high interest rates, industry data showed Thursday. According to data from the Korea Automobile Importers & Distributors Association, the number of newly imported cars registered [...]
SEOUL, Feb. 10 (Korea Bizwire) –In the import car sector, a clever discount strategy is being employed to bypass the green license plates mandated for corporate vehicles valued over 80 million won. This workaround involves slightly reducing the acquisition cost to fall below the 80 million won threshold, as the green license plate requirement is [...]
SEOUL, Nov. 20 (Korea Bizwire) – The overall sales of imported passenger cars in South Korea declined in the third quarter of this year compared to last year. However, amidst this trend, sales of Japanese hybrid cars have seen a notable surge. Following a dip in the popularity of Japanese cars during the 2019 “No Japan” [...]
SEOUL, Oct. 6 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 17 percent last month from a year earlier despite the extended chip shortage, an industry association said Thursday. The number of newly registered foreign vehicles stood at 23,928 units last month, up from 20,406 units a year ago, the Korea Automobile [...]