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Luxury saloons heat up Korea’s import market

Jan. 15, 2012 - 20:53 By Korea Herald
Last year may have been all about fuel efficiency and hybrids, but sleek, executive sedans from Germany are taking over the hype this year.

Hot new cars are to come from Porsche, BMW and Volkswagen, which plans more new launches than ever in 2012.

Volkswagen will introduce the Scirocco R-Line in Korea next month, a long awaited sports coupe with looks to match Hyundai Motor’s Veloster. The three-door coupe is a third-generation model and will come with a six-speed manual transmission and up to 170 horsepower. Fuel consumption figures and pricing are yet to be released. 
Volkswagen Scirocco R
Porsche 911 Carrera

Porsche, the fastest expanding luxury brand here is looking to further boost its market share with its luxury SUV Cayenne and the soon-to-be launched 911 Carrera. Arguably the world’s most recognized sports car, the Porsche 911 Carrera will be sold in Korea from Tuesday. The seventh generation of the iconic 911 has kept its distinctive curvy shape and will come 45 kilograms lighter than its predecessor of 2005. It will pull up to 350 horsepower and can reach 100 kilometers per hour in 4.6 seconds.

Korea’s official Porsche dealer, Stuttgart Sports, said it sold slightly more than 1,000 vehicles last year, exceeding its sales target. It increased its target sales figure to 1,300 for this year.

BMW, the best performing overseas brand with a share of about 20 percent of the import market, will introduce the new BMW 3 Series 320d and 320 ed next month. The 320 ed, the sixth generation of its 3-Series, is considered the most efficient BMW ever with fuel use of 4.1 liters per 100 kilometers. It runs on smaller wheels than its predecessor that are aerodynamically optimized so that its fuel saving is not compromised by performance. 
BMW New 3-Series

“The new 3-series 320d to debut in February is our global bestseller that comes with amazing 50-50 weight distribution, making the car better to handle than front-drive rivals. It has a wider and sharper look and a very powerful engine,” BMW Korea said.

Overseas brands are increasingly challenging the dominant local players. The Korea Automobile Importers and Distributors Association said sales at 24 overseas brands here surpassed 100,000 units for the first time in 2011. The combined figure came in at 105,037, up 16 percent from 90,562 the year before. The momentum has been building up for imported brands, which sold 53,390 cars in 2007.

By Cynthia J. Kim
 (cynthiak@heraldcorp.com)