Bestselling sports cars in South Korea 2019

The South Korean market for so-called "supercars", sports cars, and luxury passenger cars is going strong, with the leading sports car models, for example, selling hundreds of cars in 2019. Porsche sold almost one thousand Panameras, a luxury car that resembles a sedan rather than the typical sports car. The market is surging in spite of the domestic economic downturn and sluggish global economy. While only sports car models are recorded in this statistic, supercars such as Ferraris and imported luxury cars are also selling very well. Lamborghini, for example, held its first Lamborghini Day in Korea in Seoul in late 2018 and again in November 2019, an indication of the Italian luxury automaker's keen interest. Business insiders acknowledged that other brands are also paying attention to Korea as a market with high growth potential.

From the desire to be different

Imported cars in the past were rarer on the road and more expensive than domestic brands such as Hyundai and Kia. They were status symbols, an indication to other people that the owner was affluent and likely powerful as well. The popularity of imported cars was similar to the popularity of luxury brands such as Louis Vuitton and Chanel. However, as Korea's economy grew and people held more spare capital in their hands, "ordinary" Koreans began to spend more on cars and even purchased imported foreign cars such as BMWs or Mercedez-Benzes.

From foreign cars to foreign super- and sports cars

The desire to set oneself apart from the masses is suggested to be the cause behind the increasing interest in and sales of supercars such Ferraris and Lamborghinis and sports cars such as Porsches and BMWs. Even luxury cars such as Rolls-Royces and Bentleys, though neither supercars nor sports cars, are seeing steady growth. Rolls-Royces and Bentleys are considered top-tier, expensive, and large luxury vehicles. In addition, different designs such as the Urus SUV from Lamborghini are popular. The Urus is not an ordinary SUV and boasts performance similar to some sports cars, and accounted for around 44 percent of all Lamborghini models newly registered in Korea in 2019. Ferrari is reportedly preparing to launch its own so-called "super SUV" model to counter the Urus.

Leading sports cars in South Korea in 2019, by unit sales

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Source

Release date

February 2020

Region

South Korea

Survey time period

2019

Supplementary notes

The source does not provide an exact publication date. Date given here is the date of data access.

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Statistics on "Automotive industry in South Korea"

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