BMW beats Mercedes to usurp Korean throne

Industry

Published: 04 Jan. 2024, 14:29 Updated: 04 Jan. 2024, 14:29

BMW beats Mercedes to usurp Korean throne

BMW's new 5 Series [BMW KOREA]

BMW finally beat Mercedes-Benz to become Korea’s No. 1 imported brand for the first time in eight years.

BMW sold 77,395 vehicles in Korea last year, followed by Mercedes with 76,697, according to data from the Korea Automobile Importers & Distributors Association (KAIDA).

It’s the first time BMW has snatched the spot since 2015. Mercedes was the No. 1 for the past seven years.

The new 5 Series contributed. The fully revamped 5 Series was introduced in Korea in October for the first country in the world. Korea is the largest market for the 5 Series, beating Germany, the United States and China.

Mercedes-Benz's new E-Class [MERCEDES-BENZ KOREA]

Audi retained its seat as No. 3, selling 17,869 units in 2023. Volvo Cars was chasing fast with 17,018 cars.

The year 2023 was big for Lexus, with sales jumping 78.6 percent on year to 13,561. It was the No. 5 imported brand by sales.

Porsche's sales exceeded the 10,000 level for the first time since it established its Korean subsidiary in 2014. It sold 11,335 units in Korea last year.

The bestselling import model was the Mercedes E250. Mercedes sold 12,326 E250 sedans last year.

The No. 2 model was the BMW 520 sedan, followed by the Lexus ES300h.

A total of 271,034 imported cars were sold in Korea last year, down 8.2 percent on year.

BY SARAH CHEA [chea.sarah@joongang.co.kr]