Mercedes, BMW Post Steady Sales in Korea Despite Lockdown

Mercedes-Benz and BMW posted a combined profit of W260 billion in Korea last year despite the coronavirus pandemic (US$1=W1,125).

The two German carmakers, which top the Korean import market, are making up for some of their losses in the global market thanks to brisk sales here.

According to the Financial Supervisory Service on Tuesday, Mercedes-Benz posted an operating profit of W199.8 billion here last year and BMW W59.7 billion, both similar to the previous year’s figures.

Overall sales of imported cars rose 12.3 percent to 274,859 last year, with Mercedes-Benz’s 76,879 and BMW’s 58,393 accounting for almost half or 49.2 percent.

Meanwhile, ailing minor domestic carmakers GM Korea and Ssangyong posted an operating loss of W316.8 billion and W449.4 billion, while Renault Samsung suffered an estimated loss of W100 billion.

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Lohit Soundarajan

Founder , Editor Tech Guy #Voxguy

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