The domestic luxury imported car market continues to struggle. Sales of major luxury brands have significantly decreased compared to last year. Industry experts are seeking a rebound through a series of new model launches, but the outlook remains uncertain.
According to analysis of registration statistics from the Korea Automobile Importers Association (KAIDA), the total sales of five luxury imported car brands—Porsche, Lamborghini, Ferrari, Rolls-Royce, and Bentley—amounted to 7,611 units from January to September this year. This marks an 18.5% decrease from 9,335 units during the same period last year.
By brand, Porsche sold 6,573 units, down 21.2% from 8,345 units a year earlier. Ferrari's sales fell from 273 units to 177 units, a decline of 35.2%. Rolls-Royce also saw a decrease, selling 129 units compared to 141 units last year.
In contrast, Lamborghini and Bentley experienced growth. Lamborghini's sales increased from 329 units last year to 403 units this year, a rise of 22.5%. Bentley also saw an increase, selling 329 units compared to 247 units last year. This indicates varying sales trends among brands despite an overall contraction in the luxury imported car market.
The sales decline in the luxury imported car market is attributed to economic downturns and regulations on corporate vehicles. Concerns have been raised that the introduction of a green license plate system and increased tax audits on corporate vehicles, effective from 2024, are dampening consumer sentiment. Additionally, gaps in new model releases from some brands have compounded the challenges in recovering sales.
To address these issues, major luxury imported car brands are focusing on new model launches to revive sales. Porsche recently unveiled the Cayenne Coupe Electric for the first time in Korea at the 'Porsche Vibe Seoul' event this month. Lamborghini held 'Lamborghini Day Korea 2026' the day before at the Grand Walkerhill Seoul, showcasing two high-performance new models.
It remains to be seen whether the new model launches from major brands will lead to an overall market rebound. Economic uncertainties persist, and the shift towards electric vehicles is transforming the traditional luxury car market, which has primarily focused on internal combustion engines. Analysts suggest that the transition to an electrified era may challenge the prestige and competitiveness of luxury brands.
Kim Pil-soo, a professor at Daelim University’s Department of Future Automotive Studies, stated, "The brand value of ultra-high-end supercars has been built on the unique experiences of engine noise, vibration, and driving sensations associated with internal combustion engines. In the automotive industry's transition to an electric vehicle-centric 2.0 era, the value of existing premium brands may diminish, and the internal combustion engine-focused supercar market could also face contraction."
* This article has been translated by AI.
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