In 2024, the sales of imported cars in South Korea decreased by 2.9% compared to the previous year. The Korea Automobile Importers & Distributors Association (KAIDA) announced on the 6th that the number of newly registered imported cars in the country last year amounted to 263,288 units. KAIDA Vice President Jung Yoon-young explained that the market for imported passenger cars in 2024 declined compared to 2023 due to a decrease in consumer sentiment and a shortage of supply for some brands.
The most sold imported car brand in South Korea last year was BMW, achieving an annual sales figure of 73,754 units. Mercedes-Benz came in second with 66,400 units sold. BMW maintained the top spot in sales in the imported car market for two consecutive years, surpassing Mercedes-Benz. Tesla was in third place with 29,750 units sold.
Following them, Volvo (15,051 units), Lexus (13,969 units), and Toyota (9,714 units) ranked 4th, 5th, and 6th, respectively. Audi, which was in 3rd place in 2023, sold 9,304 units in 2024, dropping to 7th place.
Porsche sold 8,284 units, Volkswagen 8,273 units, MINI 7,648 units, Land Rover 4,437 units, Ford 3,853 units, Jeep 2,628 units, Honda 2,507 units, Lincoln 2,189 units, Chevrolet 1,461 units, Peugeot 947 units, Polestar 800 units, Cadillac 666 units, Lamborghini 487 units, Bentley 400 units, GMC 332 units, Maserati 251 units, and Rolls-Royce 183 units.
By country, European cars accounted for 196,219 units (74.5%), American cars 40,879 units (15.5%), and Japanese cars 26,190 units (9.9%). By fuel type, hybrid vehicles accounted for 134,426 units (51.1%), gasoline vehicles 62,671 units (23.8%), electric vehicles 49,496 units (18.8%), plug-in hybrid electric vehicles (PHEVs) 9,174 units (3.5%), and diesel vehicles 7,521 units (2.9%). Hybrid and electric vehicle sales increased by 46.6% and 86.3% respectively from the previous year, while diesel and gasoline vehicle sales decreased by 66.4% and 47.6% respectively.