Mercedes-Benz most popular brand as luxury imported cars hit record sales in S. Korea

Mercedes-Benz sold 52,571 units in South Korea in the first nine months of the year to become the top luxury imported car brand in the country, as sales of imported cars priced over 100 million won hit a record high.

The Mercedes-Benz E300 4MATIC sedan was the most popular model during the period.

Sales of luxury imported cars priced over 100 million won in South Korea surpassed 30,000 units over the first nine months of the year, jumping 64 percent from the 18,857 units posted over the same period in 2019.

The figure marked the first time sales surpassed the threshold, according to the Korea Automobile Importers & Distributors Association.

Sales of imported cars priced 150 million won or higher per unit also surged 34.3 percent on-year, reaching 8,150 units over the first nine months of 2020.

Imported brands account for 17.5 percent of South Korean car sales.

Meanwhile, local sales of budget imported cars with price tags of around 40 to 50 million won reached 31,871 for a 52 percent increase.