Home > Business > Industry

Imported car sales fall for second straight year, but hybrids emerge on top

Published: 06 Jan. 2025, 17:26

BMW Korea's X3 model [YONHAP]

Sales of imported cars in Korea fell for the second straight year in 2024, while hybrid vehicles emerged as the top-selling fuel type for the first time, industry data showed Monday.

The number of newly registered imported passenger cars in 2024 totaled 263,288 units, down 2.9 percent from the previous year, according to the data from the Korea Automobile Importers & Distributors Association.

It marked a second consecutive annual decline, following a 4.4 percent on-year drop in 2023.

Hybrids were the most popular fuel type, with 134,426 units sold, accounting for 51.1 percent of total registrations to become the top-selling fuel category for the first time.

Gasoline-powered vehicles fell to second place with 62,671 units, or 23.8 percent, followed by electric vehicles and plug-in hybrids, accounting for 18.8 percent and 3.5 percent, respectively.

BMW retained its position as the top-selling imported brand for the second year in a row, selling 73,754 units, with Mercedes-Benz trailing at 66,400 units. Tesla, Volvo and Lexus followed next, selling 29,750 units, 15,051 units and 13,969 units, respectively.

Yonhap