By Kim Tae-jong
Foreign automakers posted record monthly sales here in March, according to compiled data released Friday.
They sold a total of 15,733 vehicles, up 30.4 percent from the same period last year,.
The Korea Automobile Importers and Distributors Association (KAIDA) attributed the record sales to the arrival of new models and aggressive promotional campaigns, which it expects will continue and boost overall sales throughout the year.
The latest tally increased the total sales in the first quarter to 44,434, up 27.1 percent from the 34,964 sold in the same period last year.
"March is usually a month in which imported brands see an increase in sales after a slight drop in February," an official from the KAIDA. "But it is true that the overall sales have been on an upward trend."
Last year, the monthly sales hit the highest mark of 14,953 in June, but showed slight ups and downs to end at 12,405 in December.
By brands, BMW topped the list, selling 3,511 cars, also a record monthly sale for the German automaker.
"We have a range of different vehicles that customers can choose from, which helped boost the overall sales," a BMW official said. "The 3 Series GT and the 4 Series Coupe were popular, increasing our monthly sales volume."
BMW was followed by other German luxury brands Mercedes-Benz and Audi, which sold 2,532 and 2,457, respectively. Volkswagen came in fourth, selling 2,255.
Overall, the four major German brands accounted for about 70 percent of total sales last month, maintaining their dominant position in the local market.
Non-German brands had difficulty in narrowing big sales gaps with the German brands. Ford, Lexus, Toyota and Chrysler sold 792, 593, 504 and 426, respectively.
Amid growing presence of imported brands, local automakers seemed to struggle in expanding their sales volume.
The monthly sales of five local automakers ― Hyundai, Kia, GM, Renault Samsung and Ssangyong ― stood at 121,416 in March, up only 2.7 percent from a year earlier.
Market insiders expect new models such as the new Sonata will help boost sales in the coming months.
But the competition between imported and local brands is expected to get fiercer, as their target customers are further overlapped.
In the past, imported brands focused on high-end luxury models but they have launched smaller and more affordable lineups to attract more younger customers.
In fact, over 50 percent of foreign vehicles sold last month had engines smaller than 2,000 cc and 34 percent were equipped with engine capacities between 2,000 cc and 3,000 cc.
Foreign automakers posted record monthly sales here in March, according to compiled data released Friday.
They sold a total of 15,733 vehicles, up 30.4 percent from the same period last year,.
The Korea Automobile Importers and Distributors Association (KAIDA) attributed the record sales to the arrival of new models and aggressive promotional campaigns, which it expects will continue and boost overall sales throughout the year.
The latest tally increased the total sales in the first quarter to 44,434, up 27.1 percent from the 34,964 sold in the same period last year.
"March is usually a month in which imported brands see an increase in sales after a slight drop in February," an official from the KAIDA. "But it is true that the overall sales have been on an upward trend."
Last year, the monthly sales hit the highest mark of 14,953 in June, but showed slight ups and downs to end at 12,405 in December.
By brands, BMW topped the list, selling 3,511 cars, also a record monthly sale for the German automaker.
"We have a range of different vehicles that customers can choose from, which helped boost the overall sales," a BMW official said. "The 3 Series GT and the 4 Series Coupe were popular, increasing our monthly sales volume."
BMW was followed by other German luxury brands Mercedes-Benz and Audi, which sold 2,532 and 2,457, respectively. Volkswagen came in fourth, selling 2,255.
Overall, the four major German brands accounted for about 70 percent of total sales last month, maintaining their dominant position in the local market.
Non-German brands had difficulty in narrowing big sales gaps with the German brands. Ford, Lexus, Toyota and Chrysler sold 792, 593, 504 and 426, respectively.
Amid growing presence of imported brands, local automakers seemed to struggle in expanding their sales volume.
The monthly sales of five local automakers ― Hyundai, Kia, GM, Renault Samsung and Ssangyong ― stood at 121,416 in March, up only 2.7 percent from a year earlier.
Market insiders expect new models such as the new Sonata will help boost sales in the coming months.
But the competition between imported and local brands is expected to get fiercer, as their target customers are further overlapped.
In the past, imported brands focused on high-end luxury models but they have launched smaller and more affordable lineups to attract more younger customers.
In fact, over 50 percent of foreign vehicles sold last month had engines smaller than 2,000 cc and 34 percent were equipped with engine capacities between 2,000 cc and 3,000 cc.
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