South Korea Imported Car Sales Fall 9.2% in May

Industry

Sales of imported vehicles in South Korea fell 9.2 percent last month from a year earlier due mainly to lack of supplies in some brands.

The number of newly registered imported vehicles came to 21,339 units in May, down from 23,512 units a year ago, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement.

German cars accounted for 71 percent of imported cars sold in Asia’s fourth-biggest economy last month, falling from 75 percent from a year earlier, KAIDA said.

In contrast, three Japanese brands sold a total 1,709 units last month, jumping 50 percent from 1,136 a year earlier.

Imported brands accounted for 16.24 percent of the Korean passenger vehicle market in April, down from 18.71 percent a year ago.

Source: Qatar News Agency