Did Eco-Friendly Cars Make Up 81% of New Imported Car Sales in April in South Korea?

Synopsis
Key Takeaways
- Eco-friendly vehicles made up 81% of imported car sales.
- BMW was the leading brand in sales.
- Hybrid vehicles accounted for the majority of eco-friendly sales.
- The overall sales of imported vehicles decreased slightly.
- Government subsidies are boosting EV sales.
Seoul, May 8 (NationPress) The sales of imported vehicles in South Korea experienced a slight decline last month compared to the previous year; however, eco-friendly options like hybrids and electric vehicles (EVs) represented an unprecedented 81 percent of the overall sales, according to industry data released on Thursday.
The Korea Automobile Importers and Distributors Association (KAIDA) reported that 21,495 imported cars were registered in April, marking a decrease of 0.3 percent from last year.
KAIDA noted that the decline was primarily due to price increases and inventory shortages for specific brands, as reported by the Yonhap news agency.
By brand, BMW maintained its lead with 6,710 units sold, followed by Mercedes-Benz, Tesla, and Lexus with 4,908, 1,447, and 1,353 units respectively.
In terms of fuel types, hybrid vehicles led the way, comprising 63.7 percent of total sales, with EVs and gasoline vehicles making up 17.3 percent and 17.1 percent, respectively. Diesel vehicles represented 1.9 percent of the total imports.
Looking at individual models, the Mercedes-Benz E-Class topped the sales chart with 2,151 units sold, followed by BMW's 5 Series and Tesla's Model Y, which sold 2,040 and 804 units, respectively.
In February, the sale of imported vehicles in South Korea surged by 24.4 percent year-on-year, supported by the announcement of government subsidies for EVs, according to recent industry data.
Newly registered imported cars totaled 20,199 units in February, up from 16,237 units in the same month last year, reflecting a monthly increase of 32.6 percent from January.
In terms of fuel types for February, hybrid registrations accounted for 13,013 units, or 64.4 percent of all new imported cars. Electric, gasoline, and diesel models followed with 18.6 percent, 16 percent, and 1 percent, respectively.
BMW emerged as the most popular brand, selling 6,274 units, with Mercedes-Benz coming in second with 4,663 units.