Imported Car Duopoly: Sedan 'Benz' and SUV 'BMW' Dominance

[Asia Economy Reporter Yu Je-hoon] In the domestic imported car market, the duopoly of Mercedes-Benz and BMW has become entrenched, with each company showing distinct strengths in the sedan and sports utility vehicle (SUV) sectors, drawing attention.

According to the Korea Automobile Importers & Distributors Association (KAIDA) on the 18th, the combined cumulative new vehicle registrations of Mercedes-Benz and BMW from January to August this year totaled 103,484 units. This accounts for about 53% of the total new imported car registrations (194,262 units).

By company, Mercedes-Benz sold 55,987 units, ranking first, while BMW maintained second place with 47,497 units. Audi (14,771 units) and Volkswagen (10,998 units), ranked third and fourth respectively, showed a gap of 30,000 to 40,000 units, solidifying the duopoly structure.

However, the two companies showed different strengths by vehicle type. In the sedan sector, which accounts for about 54% of total new imported car registrations, Mercedes-Benz led with sales of 38,044 units, surpassing BMW (28,491 units) by about 10,000 units. Meanwhile, in the SUV segment, which has recently gained popularity due to trends like auto camping, BMW slightly outpaced Mercedes-Benz with 18,252 units sold compared to 17,301 units.

Mercedes-Benz has held the top spot in the SUV market for about three years since overtaking Land Rover in 2017, but since last year, BMW has risen to first place, expanding its presence in the SUV market.

This trend is especially clear in the luxury car market priced over 100 million KRW. In the sedan category, Mercedes-Benz sold 12,635 units, capturing about 64% of the total market, whereas in SUVs, BMW sold 10,013 units, significantly outpacing Mercedes-Benz’s 6,439 units. BMW’s market share in the SUV segment priced over 100 million KRW reaches approximately 41%.

Industry insiders interpret these strengths as stemming from brand image and product lineup. In the sedan market, where corporate purchases account for about 70% and the proportion of buyers aged 50 and above is about 50%, Mercedes-Benz has established a dominant premium image. Conversely, in the SUV market, where individual purchases account for about 40% and about 70% of buyers are aged 40 or younger, BMW is making strides with strong preferences among younger consumers and a diverse lineup.