October 07, 2019 12:29
Sales of Japanese cars in Korea fell by nearly 60 percent on-year in September amid a prolonged Korean boycott of Japanese products here in line with an escalating spat between the two neighbors.
"The number of newly registered Japanese vehicles stood at 1,103 in September, down 59.9 percent from the same period last year," the Korea Automobile Importers and Distributors Association said.
It was the third straight month of decline for Japanese brands, after they sold just 2,674 cars in July, when the boycott started, and sales further plunged to a mere 1,398 cars in August.
Last year, Japanese automakers' combined market share here was 15.9 percent -- second only to German brands with 51 percent.
But the import market is now dominated by German vehicles with a whopping 71 percent, while Japanese brands shrank to 5.5 percent, putting it at No. 4 behind U.K. and U.S. vehicles.
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