Toyota Camry is Korea’s top-selling imported car

Toyota Motor Corp.’s Camry sedan became the top-selling imported car in Korea in November, less than two months after the Japanese carmaker began selling the model in a market dominated by Hyundai Motor Co., an industry body said yesterday.

The world’s largest automaker started selling the Camry sedan and three other models, including the Prius hybrid, in Korea in late October. Many analysts say it could challenge Hyundai’s dominance over the Korean market.

Toyota sold 451 Camry sedans last month, nearly matching the company’s modest sales goal of 500 units for this year, the Korea Automobile Importers and Distributors Association said in a report.

The Toyota Camry was followed in the rankings by the Mercedes-Benz E300 with 361 units sold and the BMW 528 with 211 units sold, according to the association.

The November sales of the Toyota Camry in Korea were minuscule relative to the country’s overall market, with annual auto sales expected to reach about 1.2 million vehicles this year.

But analysts say the Toyota Camry sedan could have strong appeal for Korean middle-class customers who have been frustrated by Hyundai’s policy of selling cars more expensively at home than overseas, exploiting its market dominance.

Overall, sales of imported cars in Korea more than doubled in November from a year ago to 6,140 units, the association said.

Officials at Toyota’s Korean unit were not immediately available for comment.
Source:[joongangdaily.joins.com]