BMW, the No.1 Imported Car Brand for 2 Consecutive Years... Mercedes-Benz, Tesla, Volvo Follow

Kaizyu New Vehicle Registration Data

Among imported cars sold in South Korea last year, BMW was the best-selling brand. Although sales slightly decreased compared to the previous year, BMW remained the top-selling imported car brand for the second consecutive year following 2023.

According to last year's new car registration data compiled by market research firm Kaizyu Data Institute on the 3rd, BMW sold 73,560 units over the past year, a 5% decrease from the previous year. The second-best-selling brand was Mercedes-Benz, which sold 66,406 units, down 13% during the same period.

BMW Driving Center Track. Provided by BMW Korea

BMW and Mercedes-Benz have been considered the two leading imported car brands in South Korea for several years. Mercedes-Benz held the top spot among imported cars from 2016 to 2022 but lost the lead to BMW in 2023 after eight years. Even when including domestic cars, BMW and Mercedes-Benz rank high in sales, following Kia, Hyundai, and Genesis.

The third best-selling imported car brand was Tesla, with 29,754 new registrations. Tesla showed the highest growth rate among major brands, increasing by 81% during the same period. Volvo and Lexus ranked fourth and fifth with 15,051 and 13,969 units sold, respectively. Toyota (9,720 units), Audi (9,301 units), Porsche (8,297 units), Volkswagen (8,273 units), and Mini (7,645 units) followed in order.

Mercedes-Benz E300. Provided by Mercedes-Benz Korea

The total number of imported cars sold domestically last year was 262,501 units, a 7% decrease compared to the previous year. Most major brands in the upper ranks saw a decline in sales compared to the previous year. The number of brands selling over 10,000 units annually, considered a benchmark for imported car sales, decreased from eight in 2023 to five last year.

The best-selling imported car model was the Mercedes mid-size sedan E-Class, with 25,946 units sold. Sales increased as customer deliveries began in earnest from mid-last year. The BMW 5 Series was the second best-selling model with 20,565 units sold. Tesla Model Y and Model 3 both sold over 10,000 units, ranking third and fourth, respectively.