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Young Consumers’ Growing Demand for Imported Cars Reflects Changing Values, Tough Reality

Young Consumers’ Growing Demand for Imported Cars Reflects Changing Values, Tough Reality

SEOUL, Oct. 9 (Korea Bizwire) — This summer, Jeong Hong-woo, a 33-year-old architect, opted for a Mercedes-Benz sedan as his first car, an unexpected choice for him as he had long considered the brand as suited to successful middle-aged men. “Many of my colleagues and friends have chosen foreign brands recently, and I came to [...]

Imported Auto Sales Up 26 pct in April amid Pandemic, Japanese Brands Continues to Struggle

Imported Auto Sales Up 26 pct in April amid Pandemic, Japanese Brands Continues to Struggle

SEOUL, May 7 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 26 percent in April from a year earlier amid the pandemic, while Japanese brands still struggle with weaker demand following ongoing trade tension between Seoul and Tokyo, an industry association said Thursday. The number of newly registered foreign vehicles rose to [...]

Imported Car Sales Fall 3.1 pct in January as Japanese Brands Struggle

Imported Car Sales Fall 3.1 pct in January as Japanese Brands Struggle

SEOUL, Feb. 5 (Korea Bizwire) — Sales of imported cars in South Korea fell 3.1 percent in January from a year earlier due to lower demand for Japanese brands amid trade tensions between Seoul and Tokyo, an industry association said Wednesday. The number of newly registered foreign vehicles fell to 17,640 units last month from [...]