20,480 Imported Cars Newly Registered in May... Mercedes-Benz and BMW Secure 3rd and 4th Places

Lexus Also Shows Clear Sales Recovery Trend

[Asia Economy Reporter Yu Je-hoon] In May, the number of imported passenger cars registered in South Korea was recorded at 24,080 units. Notably, the leading brands Mercedes-Benz and BMW maintained their 3rd and 4th place sales rankings, ahead of the three major foreign-affiliated domestic companies (Korea GM, Renault Samsung Motors, and SsangYong Motor).

The Korea Automobile Importers & Distributors Association (KAIDA) announced on the 3rd that the number of newly registered imported passenger cars in May was 24,080 units. This represents a 3.5% increase compared to the same period last year but a 5.9% decrease compared to the previous month. Accordingly, the cumulative sales volume from January to May was 121,566 units, which is a 20.5% increase from 100,886 units in the same period last year.

By brand, Mercedes-Benz led with 7,690 units, followed by BMW with 6,257 units, maintaining their leading positions. Volkswagen (1,358 units), Volvo (1,264 units), Jeep (1,110 units), Mini (1,095 units), and Lexus (1,007 units) each recorded sales exceeding 1,000 units. Audi, one of the three major German luxury car brands, recorded sales of only 229 units.

By engine displacement, vehicles under 2000cc accounted for the largest share with 13,247 units (55.0%), followed by 2000cc to under 3000cc with 7,954 units (33.0%), 3000cc to under 4000cc with 2,066 units (8.6%), electric and others with 560 units (2.3%), and over 4000cc with 253 units (1.1%).

By country of origin, Europe led with 19,249 units (79.9%), followed by the United States with 2,796 units (11.6%), and Japan with 2,035 units (8.5%). By fuel type, gasoline accounted for 11,677 units (48.5%), hybrid 6,695 units (27.8%), diesel 3,105 units (12.9%), plug-in hybrid 2,043 units (8.5%), and electric 560 units (2.3%).

By purchase type, individual purchases accounted for 15,116 units (62.8%), and corporate purchases for 8,964 units (37.2%). Among individual purchases, registrations by region were led by Gyeonggi with 4,751 units (31.4%) and Seoul with 3,351 units (22.2%). For corporate purchases, Incheon led with 2,905 units (32.4%), followed by Busan with 2,174 units (24.3%).

The best-selling model in May was the Mercedes-Benz E250, maintaining the top spot with 1,257 units, followed by the BMW 520 (873 units) and Volkswagen Jetta 1.4 TSI (759 units). Lim Han-gyu, Vice Chairman of KAIDA, stated, "New registrations of imported passenger cars in May decreased compared to the previous month due to shortages in supply from some brands."