Monday 23 November 2020

Record breaking exports of Car and great selling of Imported Cars

The good number of exports in domestic market of auto mobile marked highest in history of monthly record. Domestic volume of sales for the similar period of time even enhanced 19.7% as compared to the earlier month, to about 137,035 vehicles, because of the improvements in client psychology and also high demand of the RV as well as the imported models. On the other hand as compared to the similar period in the earlier year, there was a reduction of 0.2%, as the base effect of reduced consumption tax of individual for auto mobiles in the quarter 4 previous years.

Record breaking exports of Car and great selling of Imported Cars

Moreover, the domestic brand names also sold about 122,027 vehicles, improving to 17.2% as compared to the earlier month where it was 101,021. Hyundai Motors was sold 57,553 vehicles that is the increase of about 11,296. The Kia Motors also sold 39,000, with the augment of 6,877, and even Chevrolet was sold 13,922 with the upsurge of about 670 vehicles. All the more, SangYong Motors displayed great progress by selling 6,202 vehicles, with the increase of about 1,770. On the other hand, this is about 1.3% less than the last year October sales, when the holidays of Korean Thanksgiving were also included.

However, the market for the imported cars even continues to perform very well. As per KAIDA, the quantity of imported vehicles in the month of October was 14,154 that are about 17.8% more than the similar month of earlier year (12,019). Compared to September (12,668), there has been an 11.7% increase. As for the number of the registered imports for every displacement, there were 8,163 cars with minimum of 2000cc, which makes a total of 57.7%.

On the list of top 10 registered cars of every brand, BMW takes 1st place with about 2,939 vehicles following by Volkswagen with about 2,890 vehicles and Mercedes-Benz with about 2,238 thereby followed by Audi with about 1,803. On the other hand, German brands also dominated the best 4, where Ford’s Lincoln also marked about 702 vehicles, Lexus 463, Mini 522, Toyota 418, Land Rover 285 and Chrysler 343. Moreover, best-selling model in the month of October was Tiguan 2.0 of Volkswagen, Volkswagen Passat and BMW 520d.

In spite of uncertainties of global economy all over, there was about 425,557 vehicles manufactured, powered by the operation normalization as well as enhance in total number of export, it was about 7.3% more than previous year.

 

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