It's a Porsche, but the 'corporate car' label stands out too much... Supercars and chairman's cars have significantly decreased

Effect of Light Green License Plates
Over 10,000 High-End Corporate Vehicle Registrations Decreased
Registrations of Porsche, Rolls-Royce, Bentley, etc. Halved
'Chairman's Cars' Also Saw Over 30% Drop in Registrations

The number of new corporate car registrations priced over 80 million KRW has decreased by nearly 30% compared to last year. This is believed to be due to the implementation of the 'light green license plate' system.

According to Kaizyu Data Research Institute on the 29th, the number of new corporate car registrations priced over 80 million KRW from January to July this year was recorded at 27,400 units. This is more than 10,000 units less compared to 37,906 units during the same period last year.

Notably, registrations of luxury cars, even the lowest-priced models exceeding 100 million KRW, have significantly decreased. For Porsche, 4,183 units were registered from January to July last year, but this year only 2,219 units were registered, a sharp decline of 47.0% year-on-year. Bentley also shrank by 65.0%, from 351 units to 123 units during the same period. Most luxury car registrations decreased, including Maserati (104 units, -42.2%), Rolls-Royce (89 units, -44.4%), Aston Martin (1 unit, -96.2%), and McLaren (37 units, -85.0%).

However, Lamborghini and Ferrari performed relatively well, with decreases limited to 1.0% (2 units) and 5.7% (10 units), respectively.

Registrations of large sedans, commonly called 'Chairman’s cars,' also declined. The Genesis G90 registered 3,607 units, down 45.6% compared to the same period last year. The Mercedes-Benz S-Class also dropped by 63.9% to 1,843 units during the same period.

By usage type, new corporate car registrations for private use and official vehicles decreased by 31.0% and 36.4%, respectively, compared to the same period last year. The decrease in commercial vehicles was limited to 3.1%.

This decline is attributed to the measure implemented from January this year, requiring corporate-owned business-use passenger cars priced over 80 million KRW to attach light green license plates upon new or changed registration.

A representative from Kaizyu Data Research Institute explained, "Although there was controversy over the effectiveness of the high-priced corporate car light green license plate system, it has ultimately shown clear results."