The ratio of sedans in South Korea’s domestic vehicle sales fell to below 50 percent for the first time last month due to higher demand for sport utility vehicles, industry data showed on April 3.
Sales of passenger vehicles such as sedans, SUVs and vans fell 1.7 percent to 114,383 units in March from 116,319 a year earlier, according to the Korea Automobile Manufacturers Association.
Of the total, sedan sales declined 7.2 percent to 56,924 units from 61,336 during the same period, while SUV sales rose 5.3 percent to 51,608 from 48,989, the latest findings showed.
The ratio of sedans fell to the lowest level of 49.7 percent last month from 50.8 percent in February and 51.4 percent in January. The ratio stood at 52.7 percent in March 2018, KAMA said.
The global demand for sedans reached a peak of 48 million units in 2014 but fell to 42.6 million last year, according to Hyundai Motor Group’s research center.
By Ram Garikipati and newswires (firstname.lastname@example.org)