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, 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. 6 (Korea Bizwire) – Sales of imported vehicles in South Korea jumped 26 percent last month compared with a year earlier on increased supplies of popular brands and aggressive promotions, industry data showed Tuesday. The number of newly registered foreign vehicles rose to 21,075 in January from 16,674 a year earlier, the Korea [...]
SEOUL, May 19 (Korea Bizwire) – Carmakers are betting on sport-utility vehicles (SUV) in the South Korean market amid strong consumer demand, industry insiders said Friday. In the next two to three years, local and foreign carmakers have plans to introduce a series of premium SUVs to reflect the popularity of recreational vehicles, according to [...]
SEOUL, May 11 (Koera Bizwire) – Sales of imported vehicles in South Korea rose 12 percent last month from a year earlier on robust sales of Japanese and European models, industry data showed Wednesday. The number of newly registered foreign cars climbed to 20,051 in April from 17,845 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of Japanese vehicles jumped 15 percent last month compared to a year earlier, with European [...]