FORMAX
Quarterly Review of Sales Status of Imported Cars
May 11, 2023
After a brief review of imported car sales status of 2022 in South Korea three months ago, we have checked the sales performance of imported cars for the first quarter of 2023 and have identified a meaningful change. The top imported car preference throughout the year of 2022 was Mercedes-Benz, but not in Q1 2023.
BMW went up significantly both in ‘brand’ and ‘sales volume’ sectors, ranking top in market share of Q1 with 5% lead over Mercedes Benz. Although the result is only of the first quarter, it seems that Mercedes Benz is losing its market share to BMW, AUDI, Volvo and Lexus. By model, Mercedes Benz’s once-unstoppable E-Class handed over top position to BMW 5 Series, followed by AUDI A6 and Lexus ES. After several years of anti-Japanese sentiment, Lexus ES came back and showed a strong performance in the first quarter by ranking in the fifth place.,
What’s unusual is the appearance of GMC, a leading American truck and SUV manufacturing company. As a newfound interest in car camping spread throughout the country in recent years, there has been an increasing preference for trucks and SUVs which attracted numerous consumers, and consequently this phenomenon was reflected in reality.
Formax (FX-Traffic) provides real-time traffic information and road hazard information in Korea to help you find the best route and cope with unexpected situations on the road.
BMW went up significantly both in ‘brand’ and ‘sales volume’ sectors, ranking top in market share of Q1 with 5% lead over Mercedes Benz. Although the result is only of the first quarter, it seems that Mercedes Benz is losing its market share to BMW, AUDI, Volvo and Lexus. By model, Mercedes Benz’s once-unstoppable E-Class handed over top position to BMW 5 Series, followed by AUDI A6 and Lexus ES. After several years of anti-Japanese sentiment, Lexus ES came back and showed a strong performance in the first quarter by ranking in the fifth place.,
What’s unusual is the appearance of GMC, a leading American truck and SUV manufacturing company. As a newfound interest in car camping spread throughout the country in recent years, there has been an increasing preference for trucks and SUVs which attracted numerous consumers, and consequently this phenomenon was reflected in reality.
Formax (FX-Traffic) provides real-time traffic information and road hazard information in Korea to help you find the best route and cope with unexpected situations on the road.
