Why Did Imported Car Sales in South Korea Surge 23% in November?
Click to start listening
Synopsis
Imported vehicle sales in South Korea surged by 23% in November, fueled by an unprecedented demand for Tesla and German brands. Discover the latest sales figures and what this means for the automotive industry in Korea.
Key Takeaways
- Sales of imported vehicles rose by 23% in November.
- Tesla and German brands led the market.
- Hybrid vehicles constituted 51% of sales.
- Overall sales from January to November reached 278,769 units.
- Coupang faced scrutiny over a data breach notification.
Seoul, December 3 (NationPress) The sales of imported vehicles in South Korea witnessed a remarkable increase of 23 percent in November compared to the same month last year, driven by robust demand for Tesla and various German models, as revealed by industry statistics on Wednesday.
New registrations of imported automobiles soared to 29,357 units last month, up from 23,784 in the previous year, according to the Korea Automobile Importers & Distributors Association (KAIDA), as reported by the Yonhap news agency.
The top three selling models for November were the Tesla Model Y, the Mercedes-Benz E200 sedan, and the Tesla Model Y Long Range, according to the data.
Sales of Tesla vehicles more than doubled, reaching 7,632 units from 3,618 a year earlier.
In terms of fuel type, hybrid vehicles made up 51 percent of monthly sales with 15,064 units, followed by electric vehicles (EVs) at 37 percent, gasoline models at 10.9 percent, and diesel cars at 1.1 percent.
From January to November, sales of imported vehicles climbed 16.3 percent, totaling 278,769 units, compared to 239,764 during the same timeframe last year.
The three major German automakers—Volkswagen Group Korea, BMW Group Korea, and Mercedes-Benz Korea—sold a combined 155,292 units in the first eleven months, reflecting an increase of 3.2 percent from 150,447 a year prior.
German brands represented 60 percent of imported vehicle sales in South Korea during this eleven-month period.
In other news, the data protection authority announced on Wednesday that Coupang Inc. failed to adequately inform its customers about a significant data breach, urging the company to issue a corrected notification regarding the exposure of personal information.
The Personal Information Protection Commission (PIPC) convened an emergency meeting following revelations that personal information of 33.7 million customers had been compromised, including names, addresses, and phone numbers.
While Coupang did notify affected users of the breach, the PIPC criticized the company for only describing it as a data exposure, despite being aware that sensitive information had been leaked.
The regulator noted that Coupang also failed to fully disclose the types of data affected when announcing the breach on its website.
Point of View
It is essential to recognize the significant momentum in South Korea's automotive market, particularly regarding imported vehicles. The growth in sales, largely driven by Tesla and German brands, reflects changing consumer preferences and highlights the competitive landscape of the automotive industry. This trend warrants close attention as it could impact local manufacturers and market dynamics.
NationPress
03/12/2025
Frequently Asked Questions
What was the percentage increase in imported car sales in November?
Imported car sales in South Korea increased by 23% in November compared to the previous year.
Which models were the top sellers in November?
The top-selling models were the Tesla Model Y, Mercedes-Benz E200 sedan, and Tesla Model Y Long Range.
What percentage of the imported vehicle sales were hybrid vehicles?
Hybrid vehicles accounted for 51% of the monthly sales.
How many units of imported vehicles were sold from January to November?
A total of 278,769 imported vehicles were sold from January to November.
What issues did Coupang face regarding a data breach?
Coupang was criticized for failing to adequately notify customers about a major data breach affecting 33.7 million users.
