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South Korean import gross sales bounce 21% in August | Automotive Business Information
Gross sales of imported gentle passenger automobiles in South Korea jumped by virtually 21% to 21,894 models in August 2020 from 18,122 in the identical month of final 12 months, in response to member knowledge launched by the Korea Car Importers & Distributors Affiliation (KAIDA).
That in contrast with the 5.6% gross sales rise by the 5 primary home car producers, following important new mannequin launches over the past 12 months by main manufacturers reminiscent of Hyundai and Kia.
Within the first eight months of 2020, gross sales of imported automobiles elevated by virtually 15% to 169,908 models in contrast with 146,889 models in the identical interval of final 12 months. German manufacturers continued to dominate this section, with mixed gross sales rising by over 38% to 113,439 models to account for 2 thirds of complete imports.
Mercedes-Benz remained the main import model, albeit with gross sales rising by lower than 1% to 47,613 models 12 months to this point. The corporate plans to strengthen its line-up with the launch of three new SUV fashions within the subsequent two months – together with the GLB, the GLA and GLE Coupe fashions.
BMW reported a greater than 40% gross sales rise to 36,498 models as the corporate continued to get better from a dangerous recall marketing campaign in 2018. Volkswagen has additionally made good progress in rebuilding its market presence, with its eight month gross sales rising by 124% to 9,404 models, whereas Audi gross sales jumped virtually fourfold to 14,443 models and Porsche gross sales had been up 84% at 5,841 models.
Japanese manufacturers continued to undergo from a broad based mostly shopper boycott after a diplomatic spat broke out between the 2 international locations final 12 months.
Their mixed gross sales fell by virtually 53% to 13,070 models 12 months to this point, with Lexus down by over 49% to five,049.