SEOUL, KOREA - The share of the Seoul metropolitan area in sales of import cars is declining as consumers in the metropolitan areas are reaching a saturation point. Another factor is that the buying power of those living in non-urban areas is getting stronger.
According to the Korea Automobile Importers and Distributors Association, the cumulative sales of import cars for the January-October period of this year totaled 162,280 units, of which individual purchasing accounted for 96,736 units, up 2,803 units from 93,933 units a year ago.
In terms of individual purchasing, the metropolitan areas (excluding Incheon) are the largest market with a share of 53.8 percent, including Seoul’s 25,280 units and Gyeonggi’s 26,800 units. Against this backdrop, the import car industry focused its marketing efforts on the metropolitan areas.
In recent days, however, the share of metropolitan areas in import car sales is slowing down. Ten years ago, the metropolitan areas accounted for more than 70 percent in the individual purchasing.
Article provided by The Korea Economic Daily
