Imported vehicle sales in Korea up nearly 10% in 2018
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The value of imported vehicles sold in Korea last year jumped 9.9 percent to 17.47 trillion won ($15.49 billion) from a year earlier on demand for German models, industry data showed Thursday. In 2018, imported carmakers sold a combined 260,705 vehicles in Asia’s fourth-biggest economy, up 12 percent from the previous year, the latest findings showed.
According to the Korea Automobile Importers and Distributors Association (Kaida), strong demand for vehicles made by Mercedes-Benz, Audi and Volkswagen pushed up sales numbers.
Imported auto brands accounted for a record 16.7 percent of all vehicles sold and registered in the domestic passenger car market for 2018, up from 15.23 percent in the previous year, Kaida said.
Questions & Answers
Q.What was the total value of imported vehicles sold in Korea during 2018?
What was the total value of imported vehicles sold in Korea during 2018?
The value of imported vehicles sold last year in Korea was 17.47 trillion won, which equates to $15.49 billion. This represented a 9.9 percent increase from the previous year.
Q.Which specific brands contributed most to the increase in imported vehicle sales?
Which specific brands contributed most to the increase in imported vehicle sales?
Strong consumer demand for vehicles manufactured by German brands, specifically Mercedes-Benz, Audi, and Volkswagen, significantly boosted the sales figures for imported cars in 2018.
Q.What percentage of the Korean domestic passenger car market did imported brands represent in 2018?
What percentage of the Korean domestic passenger car market did imported brands represent in 2018?
Imported auto brands accounted for a record 16.7 percent of all vehicles sold and registered in the domestic passenger car market in 2018. This was an increase from 15.23 percent in the previous year.
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