The sale of imported cars increased over 16% percent in August of 2012 when compared to August of 2011 in Korea. The increase is attributed to the aggressive sales promotions by local dealers and increased interest in luxury foreign cars. The free trade agreements may have, also, made more mid-income consumers consider purchasing a foreign cars.
The U.S. (7.1% of foreign car market in August) is still lagging way behind European (77.9%) and Japanese (15%) competitors even, though, American car companies offer the best deals in the market.
Why are Americans cars not popular in Korea?
Sean Hayes, IPG's Co-Chair of the Korea Practice Team, may be contacted at: SeanHayes@ipglegal.com