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Imported car sales dip 8.7% in March amid chip shortages

Mercedes-Benz S-Class (Mercedes-Benz Korea)

Income of imported automobiles in South Korea fell 8.7 percent in March as chip shortages ongoing to have an affect on car manufacturing, an industry association claimed Tuesday.

The amount of recently registered foreign vehicles fell to 24,912 models final month from 27,297 models a yr in the past, the Korea Automobile Importers & Distributors Affiliation (KAIDA) stated in a statement.

The a few bestselling models previous thirty day period had been Mercedes-Benz’s E 250 sedan and E 350 4MATIC sedan and BMW’s 520 sedan, it explained.

In March, 3 German manufacturers — Volkswagen Group Korea, BMW Group Korea and Mercedes-Benz Korea — bought a merged 18,763 models, down 1 percent from 18,954 the previous year.

German cars and trucks accounted for 75 per cent of imported cars offered in Asia’s fourth-biggest overall economy previous thirty day period, KAIDA explained.

Three Japanese carmakers — Honda Motor Co., Toyota Motor Corp. and its unbiased brand, Lexus — offered a total of 1,202 units in March, down 31 percent from 1,737 a calendar year previously.

Imported brands accounted for 18.73 p.c of the Korean passenger automobile market place in February, down from 21.08 percent a year in the past.

Their current market share for March will be out there future month, KAIDA claimed.

From January to March, imported vehicle registrations declined 14 % to 61,727 autos from 71,908 models in the course of the very same period of time of last yr, it explained. (Yonhap)

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