Sold more than 70,000 high-priced imported cars with the sound of ‘billions’… the biggest ever

Last year, the sale of high-priced imported cars was found to be more than 100 million won more than 70,000 units despite the consequences of the economic recession, such as the automotive semiconductor crisis and high interest rates and high prices. This is the biggest sale ever.

According to the Korea Import Automobile Association on the 23rd, imported cars worth more than 100 million last year gained sales of 71,899 units, up 10.3% from the previous year.

The share of imported high-priced car sales increased by 1.8% points from the previous year, accounting for 25.3% of the total imported car sales volume. This means that one in four imported cars sold last year exceeded 100 million won. The sales volume of imported cars worth more than 100 million won increased from 28,998 units in 2019 to 40,000 units in 2020, and shows a steep increase, which is more than 70,000 units this year.

It is evaluated that the main imported car brands, Mercedes-Benz and BMW, promote premium strategies and focus on selling luxury models. Mercedes-Benz Korea sold 31,576 vehicles worth more than 100 million won last year, up 9.5 percent from the previous year, and BMW sold 22,372 vehicles, up 20.1 percent from the previous year. Last year, sales of Bentley, which cost between 200 and 300 million, increased by 53.2%. Lamborghini increased by 14.2% and Porsche by 6.3%.

Looking at the sales volume by model, the Mercedes-Benz E-Class, BMW 5 Series, and Mercedes-Benz S-Class were in order. In the case of Mercedes-Benz, sales of the S-Class, which cost more than 200 million depending on the trim, reached 13,206 units. BMW sold 7,482 units of the X5, a mid-size SUV.

Looking at imported cars worth 100 million or more won by type of purchase, 47,399 units were purchased by corporations and 24,500 units were purchased by individuals. Corporate purchases accounted for 72.7% of the total. This is interpreted as the fact that luxury sedans are often purchased by corporations through lease contracts.

Of the 234 Rolls-Royce units sold last year, 213 were found to be in the corporate name. It accounts for 91% of total sales. 85% of Lamborghini’s total sales, Bentley’s 77%, and Porsche’s 65% were in the name of the law. There is also analysis that the recent sales growth of expensive imported cars is influenced by retaliatory consumption and income polarization caused by Corona 19.