South Korea Sees 6.3% Rise in Imported Car Sales Due to Strong EV Demand

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Windhoek:Imported car sales in South Korea rose by 6.3% in September, driven by increased demand for electric vehicles (EVs) and German luxury models.

According to Namibia Press Agency, the Korea Automobile Importers and Distributors Association reported that 34,904 newly imported passenger cars were registered in September. For the first nine months of the year, imported vehicle sales reached 279,729, marking a 24.1% increase compared to the same period last year.

Tesla led foreign automotive sales in South Korea, with 12,372 units sold. BMW followed with 6,066 units, and Mercedes-Benz with 5,477 units. Chinese manufacturer BYD ranked fourth with 2,614 units, followed by Volvo, Lexus, and Toyota with 1,414, 1,064, and 971 units, respectively.

European models dominated sales with 17,578 units sold, comprising 50.4% of the total market. U.S., Chinese, and Japanese brands accounted for 36.1%, 7.6%, and 5.9% of the market, respectively. Battery-powered EVs made up 52.1% of sales, followed by hybrid vehicles at 39.0%, gasoline vehicles at 8.2%, and diesel models at 0.7%.