Imported vehicle sales in South Korea fell 32 percent in March from a year earlier due mainly to a lack of products, industry data showed on April 3.
The number of newly registered foreign vehicles stood at 18,078 in March, down from 26,402 a year earlier, the Korea Automobile Importers and Distributors Association said in a statement.
“Mercedes-Benz Korea and Audi Volkswagen Korea said they couldn’t deliver enough cars to meet demand. Lack of supply weighed on sales last month,” a KAIDA spokeswoman said.
The three best-selling models were the Mercedes-Benz E 300 sedan, the Mercedes-Benz E 300 4MATIC sedan and the Lexus ES300h.
The ratio of German vehicles fell to 46 percent last month from 60 percent of the imported passenger vehicle market a year earlier, the statement said.
In the January-March quarter, imported car sales dropped 23 percent to 52,161 autos from 67,405 tallied a year earlier, it said.
Imported carmakers accounted for 14.91 percent of all local passenger car sales in the first quarter, down from 18.41 percent a year ago, the spokeswoman said.
By Ram Garikipati and newswires (firstname.lastname@example.org)