Number of import vehicle sales to hit 195,000 this year, up 24.6%

The number of import car sales in Korea will hit 195,000 this year, up 24.6 percent from last year, the Korea Automobile Importers and Distributors Association predicts. The increase stems from influx of young buyers, as import car companies have introduced compact and subcompact vehicles en masse.

At its year-end event on Friday, the Korea Automobile Importers and Distributors Association announced that the number of import car sold from January to October this year amounted to 162,280, already exceeding last year’s annual sales volume (156,497). The association predicted next year’s sales volume at 215,000, up 10.3 percent from this year.

Yoon Dae-seong, an executive director at the association, said, “The growth pace of import car sales will slow down next year from this year due to weakening economic growth and household debts.”