By Kim Tae-jong
The number of registered imported cars stood at 606,825 as of the end of January.
The Korea Automobile Importers & Distributors Association (KAIDA) said the number is up from 597,766 a month earlier.
By brand, BMW took up the largest portion with their numbers at 108,273, followed by Mercedes-Benz at 92,406, 52,361 for Lexus and 48,350 Volkswagens.
The market share of BMWs and Mercedes-Benzs stood at 17.8 and 15.2 percent, respectively.
The imported car market has been growing consistently benefitting from a widening line-up and rising interest in foreign vehicles.
Last year the number of newly registered imported cars within a 12-month period passed the 100,000 mark for the first time since the sales of foreign cars started here in 1987. Foreign cars sold numbered 105,037, a 16 percent increase from the previous year.
Those with engine capacity below 2,000cc accounted for 42.2 percent while those between 2,000cc and 3,000cc and 3,000cc and 4,000cc took up 32.6 percent and 20.4 percent respectively.
When grouped in terms of brand origin, vehicles from Europe scored highest, with 77,849 cars or 74.1 percent, followed by Japanese automobiles with 18,936 and American cars with 8,252.
By model, the largest number registered in 2011 was the BMW 528, at 20,691, followed by Mercedes-Benz’s E 300 and the Lexus ES350, whose registered numbers stood at slightly over 15,000 each.
In contrast, there was only one Renault and eight Opels registered.
As for the type of buyer, individuals slightly outscored corporations in new car purchases. In numbers, 55,698 cars or 53 percent of imported cars bought by individuals and 49,339 or 47 percent purchased by corporations.
“The number of imported cars newly registered in 2011 exceeded 100,000 for the first time,” Yoon Dae-sung, executive managing director of KAIDA, said. “It is largely due to the active marketing campaigns of each brand and the introduction of greater range of new models.”
He also expects that the imported car market will continue on an upward trend, thanks to some positive factors such as the free trade agreement between Korea and the United States.