Japanese automakers see market share in Korea climb to nearly 5-year high

A Honda All-new Accord is seen in this file photo.  Courtesy of Honda Korea

Japanese automakers have been gaining popularity in Korea, recovering from an extended slump caused by a trade row between the two Asian neighbors and the coronavirus pandemic, industry sources said Saturday.A total of 1,961 vehicles frrom Japanese auto brands, mainly Toyota, Honda and Lexus, were sold here in January, accounting for a 14.98 percent share of the country’s imported auto market, according to data from the Korea Automobile Importers & Distributors Association (KAIDA).

This is the first time since June 2019 that their market share exceeded 14 percent.In the wake of the trade row between Seoul and Tokyo, their market share stood at 7.48 percent in 2020 and further dropped to 7.44 percent in 2021. In 2022, this rebounded slightly to 5.99 percent and 8.64 percent last year, the data showed.Their popularity was driven by hybrid 슬롯 models amid waning demand for electric vehicles

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