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SOUTH KOREA       
Renewed fall in March points to cooler Korean car market
Published: Thu, 01st June 2017 20:37:47 GMT  
 

South Korea Premium German car sales

Hyundai-Kia, which has long enjoyed the benefits of a stranglehold presence in its tightly guarded South Korean domestic car market, may have lost some of its former tightly-held grip, but its more than 60 per cent home sales share of this year’s first quarter South Korean car market is likely seen with great envy by many of the world’s other leading carmakers

To put this in perspective, Hyundai-Kia’s near two thirds domestic car sales share remains unmatched in any other major car market. 

By way of international comparison, in India Maruti-Suzuki currently holds 53.9 per cent of this year’s car market. 

In Japan Toyota Group held 44.8 per cent of last year’s domestic car sales. 

By contrast, Volkswagen Group, despite its large assortment of car brands, currently controls just 36.8 per cent of its German home market.

Importers press on, making good progress

The importers’ sales drive into South Korea, following the signing of the EU-South Korea Free trade agreement in July 2011 was also driven largely by the might of Germany’s prestige carmakers. 

So much so, in fact that close on 60 per cent of South Korea’s car imports this first quarter were from BMW, Mercedes, badly handicapped Audi and Porsche.


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