S. Korea's imported car sale falls 19.4 pct in January

South Korea's imported car sale fell in double digits in January due to rising worry about economic slowdown, industry data showed Monday.

The number of imported vehicles sold here was 13,083 in January, down 19.4 percent from the same month of 2023, according to the Korea Automobile Importers & Distributors Association (KAIDA).

The double-digit reduction came as high interest rates in major economies boosted concerns about global economic uncertainty that led to the weakened demand for foreign luxury vehicles.

German automaker BMW ranked first in terms of automotive sales here among foreign companies by selling 4,330 units in January.

Another German carmaker Mercedes-Benz came next with the domestic sale of 2,931 units, followed by Lexus with 998 units, Volvo with 965 units, Toyota with 786 units and Porsche with 677 units.

The number of European models sold here was 10,164 in January, accounting for 77.7 percent of the total. Japanese and U.S. brands recorded the market share of 15.0 percent and 7.3 percent each.