Mercedes-Benz S-Class outsells BMW's 7 Series in S. Korea

Mercedes-Benz sold 731 units of its S-Class in South Korea in January to retain for the car its title as the top-selling imported flagship sedan in the country, beating BMW’s flagship 7 Series.

BMW sold 91 units of its 7 Series, a full-size luxury sedan, in January, down 62.6 percent compared to 243 units in December, when it was released.

The weak automobile demand resulting from a string of interest rate hikes last year was cited as the primary factor behind the plunge in sales of BMW’s flagship sedan.

The overall sales of import cars slipped to 15,901 units in January, down 46 percent compared to a month earlier.

Meanwhile, Mercedes-Benz's sales of 731 units of its flagship S-Class sedan in January is 21.8 percent below the 930 units it sold in December.