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Vehicle registrations up 2 pct in 2019

11:00 January 16, 2020

SEOUL, Jan. 16 (Yonhap) -- The number of registered vehicles in South Korea rose 2 percent to reach 24 million last year driven by increased purchases of lower-emission and imported models, the transport ministry said Thursday.

Auto registrations came to 23.68 million at the end of December, according to the Ministry of Land, Infrastructure and Transport.

"The number of car registrations is likely to grow steadily for the time being, though not rapidly, as multiple-member households increasingly own two to three vehicles and single-member households also have a car," a ministry official said.

Vehicle registrations up 2 pct in 2019 - 1

Vehicles made by the country's five carmakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- claimed 90 percent of the total registrations last year, with imported brand models accounting for the remainder, it said.

The proportion of imported cars continued to rise last year, reaching 10 percent, up from 2.5 percent in 2009, the statement said.

kyongae.choi@yna.co.kr
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