Sales of imported vehicles in South Korea slipped nearly 25 percent last month from a year earlier on weak demand, industry data showed Wednesday.
The number of newly registered imported cars came to 16,237 units in February, down 24.9 percent from 21,622 units a year ago, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement.
Sales of Tesla weren’t included in the tally, as the company is not a registered association member.
KAIDA attributed the number of reduced working days last month due to the Lunar New Year holiday and sluggish demand amid high interest rates as key factors in the overall reduction.
BMW was the top foreign car brand in terms of sales last month, selling 6,089 units, followed by Mercedes-Benz, which sold 3,592 units. Volvo, Lexus and Porsche followed suit, selling 961, 919, and 828 units, respectively.
Of last month’s import sales, hybrid models accounted for the most, selling 8,876 units, followed by gasoline and electric models, selling 5,183 a
nd 1,174 units, respectively.
Source: Yonhap News Agency