Korean Automobile Industry

14
Imports
Surpassed a 5% share in Korean market
Steep growing pace of imported cars
continued in 2007. Automobile imports soared
32.5% to 73,227 units, renewing the historic
record, spurred by price-discounting strategy
benefited from declining won/dollar exchange
rate, launching of a wide range of new models
including mid to low-price cars and expanding
A/S centers, etc. In terms of imported car type,
passenger cars leaped 33.9% to 63,883 units,
special purpose vehicles increased 14.9% at
6,446 units, trucks gained 54.5% at 2,720,
while buses diminished by 11.9% to 178 units.
Imported car sales registered 53,390 units in
2007 with a 31.8% rise and its share grew to
5.1% in domestic car market. By nation of
origin, all of the countries saw upward pace
and particularly Japanese, US and French cars
posted a prominent growth. German cars
maintained its leading position in the import
market, climbing 17.4% to 22,282 units and
Japan ranked second with a 44.5% hike at
17,663 units. US stood at third recording 6,235
units, followed by UK(58.7% increase with
2,136 units) and France(81.3% increase with
2,712 units).
Korean Automobile Industry 2008
With respect to engine displacement, cars
less than 2,000cc soared by 37.2% to 12,931
units, 2,000 to 3,000cc cars gained 34.4% to
21,916 units and cars over 3,000cc increased
25.0% to 18,543 unit. To sum up, lower
engine-sized import cars enjoyed higher
growth in Korea.
In terms of sales-value meanwhile, the share
of imported cars rose to 14.6%. Especially, in
the car segment over 3,000cc, its share
occupied 34.9% and 53.8% based on salesunits
and value respectively, thus occupying
more than half of luxury car market.
Imports of Foreign Vehicles
(Units)
100,000
80,000
60,000
40,000
20,000
0
(Based on Customs Clearance)