Honda takes lead in imported car market
Honda Korea looks set to become the first foreign carmaker to sell more than 10,000 units on the local market in one year.
According to the Korea Automobile Importers and Distributors Association, the local arm of the Japanese carmaker sold 2,827 vehicles during the first quarter of the year.
If the company can maintain a similar sales record throughout the year, Honda Korea's annual sales will come in at over 11,000 units. The highest annual sales recorded so far was the 7,618 units sold by BMW Korea last year.
"At the beginning of the year, the company set this year's target at 9,000 units and, even if annual sales come in at over 10,000 units, we don't think it will be much higher than that," said a Honda Korea official.
She said that, due to the global shortage of the sedan Accord, the company set the conservative target of 9,000 and that the problem may still act to hold back Honda Korea's sales this year.
The car is available in two versions, the Accord 3.5 and Accord 2.4, and both models are among the top ten bestselling imported cars for the first quarter. With the combined sales of the two models coming in at over 1,200 units, the Accord accounts for 45 percent of the company's first quarter sales.
Whether the company sells more than 10,000 units this year or not, Honda Korea has taken the lead in the imported car market with 18.05 percent market share and a 630-car lead over last year's top seller, BMW.
Honda Korea looks set to become the first foreign carmaker to sell more than 10,000 units on the local market in one year.
According to the Korea Automobile Importers and Distributors Association, the local arm of the Japanese carmaker sold 2,827 vehicles during the first quarter of the year.
If the company can maintain a similar sales record throughout the year, Honda Korea's annual sales will come in at over 11,000 units. The highest annual sales recorded so far was the 7,618 units sold by BMW Korea last year.
"At the beginning of the year, the company set this year's target at 9,000 units and, even if annual sales come in at over 10,000 units, we don't think it will be much higher than that," said a Honda Korea official.
She said that, due to the global shortage of the sedan Accord, the company set the conservative target of 9,000 and that the problem may still act to hold back Honda Korea's sales this year.
The car is available in two versions, the Accord 3.5 and Accord 2.4, and both models are among the top ten bestselling imported cars for the first quarter. With the combined sales of the two models coming in at over 1,200 units, the Accord accounts for 45 percent of the company's first quarter sales.
Whether the company sells more than 10,000 units this year or not, Honda Korea has taken the lead in the imported car market with 18.05 percent market share and a 630-car lead over last year's top seller, BMW.
By Choi He-suk
I believe Honda cars are cheaper than most imported vehicles but they offer high quality and performance thus attracting a wider consumer base. Honda cars' tendency to have high re-sale value, and the reinforcing of Honda sales and service networks have also helped to raise sales this year.
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