April 26, 2024
Automobiles
Imported car sales fall to 7-year low
[THE INVESTOR] The number of imported cars in South Korea is expected to fall on-year for the first time in seven years, industry sources said on Dec. 8.
A total of 205,162 imported vehicles have been sold in the country through November, down 6.5 percent from a year earlier, according to the data compiled by the Korea Automobile Importers and Distributors Association.
If the sales trend continues, minus growth is likely for the full year, they said.
Sales of imported cars in South Korea slumped 15.8 percent last month to 19,361 units due to a supply shortage.
Since peaking at a record monthly sale of 24,366 in December 2015, foreign auto sales have been on a decline due to the expiry of a special tax incentive and the recent ban on sales of Audi and Volkswagen car models here after an emissions scandal.
(theinvestor@heraldcorp.com)
A total of 205,162 imported vehicles have been sold in the country through November, down 6.5 percent from a year earlier, according to the data compiled by the Korea Automobile Importers and Distributors Association.
If the sales trend continues, minus growth is likely for the full year, they said.
Sales of imported cars in South Korea slumped 15.8 percent last month to 19,361 units due to a supply shortage.
Since peaking at a record monthly sale of 24,366 in December 2015, foreign auto sales have been on a decline due to the expiry of a special tax incentive and the recent ban on sales of Audi and Volkswagen car models here after an emissions scandal.
(theinvestor@heraldcorp.com)
