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S. Korea's imported car sale falls in June

SEOUL
2024-07-03 10:17

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SEOUL, July 3 (Xinhua) -- South Korea's imported car sale turned downward in four months amid lower demand for foreign luxury vehicles, industry data showed Wednesday.

The number of imported vehicles sold here stood at 25,300 in June, down 5.4 percent from a year earlier, according to the Korea Automobile Importers & Distributors Association (KAIDA).

It marked the first downturn in four months on lingering worry about aneconomic slump that weakened local demand for foreign vehicles.

For the first six months of this year, the imported vehicle sale shrank 3.9 percent to 125,652 units compared to the same period of 2023.

German carmaker Mercedes-Benz ranked first in terms of automotive sales here among foreign companies by selling 6,661 units in June.

Another German automaker BMW came next with the domestic sale of 6,172 units, followed by U.S. carmaker Tesla with 5,293 units, Volvo with 1,452 units, Lexus with 1,047 units and Audi with 902 units.

The number of European models sold here came to 17,244 in June, accounting for 68.2 percent of the total. U.S. and Japanese brands recorded the market shares of 24.2 percent and 7.7 percent each.
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