Seoul: Sales of imported cars in South Korea fell for the second straight year in 2024, while hybrid vehicles emerged as the top-selling fuel type for the first time, industry data showed Monday. The number of newly registered imported passenger cars in 2024 totaled 263,288 units, down 2.9 percent from the previous year.
According to Yonhap News Agency, the data from the Korea Automobile Importers and Distributors Association highlighted a second consecutive annual decline, following a 4.4 percent on-year drop in 2023. Hybrid vehicles were the most popular fuel type, with 134,426 units sold, accounting for 51.1 percent of total registrations. This marked the first time hybrids became the top-selling fuel category.
Gasoline-powered vehicles fell to second place with 62,671 units, or 23.8 percent, followed by electric vehicles and plug-in hybrids, which accounted for 18.8 percent and 3.5 percent, respectively. BMW retained its position as the top-selling imported brand for the second year in a row, selling 73,754 units. Mercedes-Benz trailed with 66,400 units, while Tesla, Volvo, and Lexus followed with sales of 29,750 units, 15,051 units, and 13,969 units, respectively.