Japanese Vehicle Sales in S. Korea Fall 22 Pct in 2019

Economy

Seoul, Jan. 23 (Jiji Press)--The number of Japanese vehicles sold in South Korea in 2019 fell 22.0 pct from the previous year, according to data from the Korea Automobile Manufacturers Association.

The drop in sales, announced Wednesday, apparently reflects the effects of South Korean boycotts against Japanese products, following Tokyo's decision to tighten controls on semiconductor material exports to its East Asian neighbor.

Sales of Japanese brands shrank in the latter half of the year, the industry body said.

Total sales of Japanese vehicles decreased by around 6,600 units from 2018 to some 23,400 units. In terms of value, Japanese vehicle sales declined 18.0 pct to around 1,087 billion won, or approximately 102.7 billion yen.

Total imported vehicle sales stood at about 275,100 units, with German models being the most common type of imported vehicles, at roughly158,500 units, followed by U.S. vehicles at 42,700 units and Japanese vehicles.

[Copyright The Jiji Press, Ltd.]

Jiji Press