Despite a severe downturn in demand entering this year, imported car sales peaked up 30% continuing its uninterrupted growth.
Especially the big ticket imported cars with a retail price over 100 million won registered a monthly sales of 2,000 units, enlarging the luxury import car market.
Based on KAIDA’s new registration data, imported car sales of over 100 million won stood at 4,005 units during the first two months.
This in turn means a monthly sales of 2,000 units, accounting for 11% of total imported car sales.
Since last year Mercedes-Benz enjoyed an explosive sales growth, registering 2,275 units up to February for mostly over 150 million won of unit price.
In particular, Benz S class registered 1,920 units, while E63, 4 units, CLS 234 units, and G class 28 units. Especially SL class and S63AMG were delivered 44 units, each. Those ultra-expensive models over 200 million won even registered 613 units.
As for BMW, 7 series registered 166 units, M series 136 units, X5 and X6, 277 units, thus those big models over 100 million won registering 587 units in sum.
Audi also had 345 units of sales, including A8, 294 units, S60 and S80, 22 units, RS 29 units, etc.
Jaguar Land Rover recorded 386 units, comprising XJ 47 units, F type 11 units, Range Rover 328 units, while Porsche registered 253 units, with Panamera 95 units, Cayman 87 units.
In the meantime, Lexus sold 65 units of LS600, and Nissan delivered 3 GT-Rs.
Rolls Royce flagship, priced at 690 million won, registered 10 units, while Bentley had a registration of 65 units.
The 200 million won Maserati that not calculated in the KAIDA data was reported to have a monthly 100 units in sales.
The reason for such a ballooning demand for over 100 million won models is estimated to be the shift of demand by the rich to one-notch up to differentiate themselves from those whose demand for medium priced cars, such as BMW 5 series or Benz E class that priced around 60 to 70 million won, is expanding rapidly.
Industry experts expect further growth of expensive import car demand in the future as imported cars are getting more and more popular in Korea, registering a monthly sales of 20,000 units or so.