Rising car sales figures in December 2022

19. January 2023

Despite the ongoing semiconductor scarcity, import vehicle sales in South Korea increased last month by 24 percent compared to the same month last year. According to a statement from the Korea Automobile Importers & Distributors Association (KAIDA), there were over 29,000 newly registered foreign automobiles this month, up from almost 24,000 units a year earlier. The E 250 and E 350 4MATIC sedans from Mercedes-Benz and the 520 sedan from BMW were among most popular models last month. A lot of equipment and machinery used in the automotive industry needs KC certification in order to be approved for the Korean market.
 

 
According to KAIDA, German automobiles made up over 75% of all imported vehicles sold in Korea last month. Volkswagen Group Korea, BMW Group Korea, and Mercedes-Benz Korea together sold over 22,000 vehicles in December, up from around 16,500 the previous year.
The percentage of imported brands in the Korean passenger car market increased from around 15 percent to 20 percent in November. According to KAIDA, their market share for December has not yet been disclosed.
According to the report, the number of imported cars registered overall in 2022 increased to over 280,000 vehicles from around 276,000units during the same month in 2017.
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