The number of registered foreign cars jumped more than 15 percent in the first nine months of this year despite an economic slowdown.
The Korea Automobile Manufacturers Association said a total of 98,459 imported vehicles were registered here in the January-September period, up 15.4 percent from the same period last year. At this pace, the number is expected to hit a record high this year.
The association attributed the surge to the price competitiveness of imported vehicles following the implementation of free trade agreements with the European Union and the U.S. Another reason is the debut of more fuel-efficient imports amid high fuel prices
During the January-September period, BMW was the best-selling foreign car brand in Korea, with shipments making up around 22 percent of the imported car market, followed by Mercedes-Benz and Volkswagen.