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Report shows Korea is one of the top markets for luxury cars

Oct 23,2017
Sales of luxury cars in Korea have exceeded those of several wealthier countries, according to industry data released Sunday.

Numbers provided by foreign carmakers and the Korea Automobile Importers and Distributors Association showed Koreans bought more new BMW 5 Series and Mercedes-Benz E-Class cars than Germans and Japanese from late last year to early 2017.

The data also showed that demand for Mercedes-Benz’s top-of-the-line S-Class and Rolls-Royce models with price tags in the hundreds of millions of won was high.

BMW said Korea was the second-largest market for its new 5 Series cars after the United States. In September alone, the company said it sold 3,200 of its midsize executive 5 Series cars in Korea, compared to 3,600 in the much larger U.S. market.

The number of such cars sold in Korea, Asia’s fourth-largest economy, exceeded those of the United Kingdom, Germany and Japan.

The Korea Automobile Importers and Distributors Association said Mercedes-Benz sold 5,606 cars last month, which placed it as the best-selling foreign car brand in Korea for four consecutive months. Yonhap