Korean Automobile Industry

I MPORTSSales of imported cars soared andoccupied 7.8% share in Korean marketIn 2010, owing to the rise of purchasing power under the economic recovery,expanded target-consumers, a variety of model releases between 2,000 and 3,000cccars and makers' active marketing, sales of imported passenger cars picked up40.5% to 97 thousand units.Imported passenger car sales registered 96,849 units with a 40.5% jump and itsshare was expanded to 7.8% in domestic market, up 2.2%p from 2009(M/S 5.6%).By nation of origin, all the countries saw upward trend. German cars maintained itsleading position in the import market, leaping as much as 55.8% to 56,027 units.Japan ranked second with a 33.7% rise at 26,018 units and US stood in the thirdplace recording 8,668 units, up 19.9%. By maker, BMW ranked top followed by Benzand Toyota.With respect to engine displacement, cars less than 2,000cc and 2,000 to 3,000cccars surged 48.9%(30,201 units) and 63.0%(40,781 units) respectively thanks to theintroduction of varied range of new models, while cars over 3,000cc posted relativelymilder growth rate, up 9.3% to 25,867 units.14Korean Automobile Industry 2011