Gross sales of imported gentle passenger autos in South Korea elevated by 10% to 24,839 items in September 2024 from 22,565 items a yr earlier, in response to registration knowledge launched by the Korea Vehicle Importers & Distributors Affiliation (Kaida).
South Korea report: home gross sales flat in September
Final month’s volumes had been supported by good availability of recent fashions, in response to the affiliation, and nicely as by the inclusion of Tesla gross sales this yr in contrast with none final yr. Yr-to-date (YTD) volumes had been nonetheless 1.5% decrease at 194,731 items from 197,742 items in the identical interval of final yr, primarily reflecting sluggish gross sales within the first half of the yr.
General demand for brand spanking new autos in South Korea has weakened this yr, because the nation’s closely indebted shoppers reined in spending on huge gadgets. Home producers reported a 9% drop in complete car deliveries to 994,468 items within the first 9 months of the yr.
German-owned manufacturers accounted for over 65% of complete import gross sales YTD, with phase chief BMW reporting a 4% drop to 54,472 items regardless of the launch of its new 5-series sedan earlier this yr whereas its Mini model reported an 18% drop to five,734 items.
Mercedes-Benz noticed its nine-month gross sales fall by 12% to 48,048 items regardless of the launch of the brand new E-series sedan earlier within the yr. Volkswagen’s gross sales declined by 15% to five,916 items, whereas Porsche’s dropped by 33% to six,043 items and Audi’s plunged by 54% to six,529 items.
Tesla reported 23,627 gross sales YTD, whereas Volvo’s gross sales fell by 11% to 11,123 items. Toyota loved a 17% gross sales enhance to 7,059 items, whereas its Lexus unit noticed its gross sales rise by 1.5% to 10,196 items after performing strongly final yr.
Following a significant hearth in an house complicated in Incheon in August, which began in a Mercedes-Benz EQE and unfold to greater than 100 autos, home car producers and abroad manufacturers have begun to reveal extra BEV battery data, together with provider names, to extend transparency and assist alleviate rising concern within the nation over battery security.
Importers are estimated to have accounted for shut to twenty% of BEV gross sales in South Korea year-to-date, led by Tesla and Germany Mercedes-Benz and BMW, whereas China’s BYD is predicted to enter the market later this yr.
“South Korea: import gross sales rise 10% in September” was initially created and revealed by Simply Auto, a GlobalData owned model.
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