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Japanese car sales slump in South Korea

2019-09-04T10:28:41.470Z

The number of newly registered Japanese cars in August announced by the Korea Imported Automobile Association on August 4 was 1398 units, down 56.9% from the same month last year. In July, it was 17.2% lower than the same month of the previous year, but the rate of decline expanded. Due to the stagnation of the Korean economy, the entire imported car is 5.6 ...



The number of newly registered Japanese cars in August announced by the Korea Imported Automobile Association on August 4 was 1398 units, down 56.9% from the same month last year. In July, it was 17.2% lower than the same month of the previous year, but the rate of decline expanded. Although the import economy has declined by 5.6% due to the stagnation of the Korean economy, the decline of Japanese cars is conspicuous.

It was confirmed that the non-purchasing movement of Japanese products, which is against the strengthening of the Japanese government's export restrictions on Korea, is also spreading to automobile sales. The month-on-month rate was 47.7% lower.

By brand, Toyota was down 59.1% year-on-year to 542, Honda was down 80.9% to 138, and Nissan was down 87.4% to 58. Lexus, Toyota ’s most popular luxury car brand in Korea, increased by 7.7 to 603, but decreased by 38.6% compared to the previous month.

Obayashi University's professor Kim Jong-jun, who is familiar with the automobile industry, predicts that “the influence of non-buying movements is great. (Seoul = Takuya Suzuki)

Source: asahi

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