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Toyota ascends fast in Korean import car mkt amid higher oil prices

2018.06.14 14:30:16 | 2018.06.14 15:01:09
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Toyota Camry Hybrid

Toyota Camry Hybrid

Japanese automaker Toyota Motor Corp. saw a rapid increase in sales in South Korea thanks to its mid-sized model Camry gaining popularity amid higher oil prices.

According to the Korea Automobile Import & Distributors Association (KAIDA) on Wednesday, cumulative car sales of Toyota Korea from January to May reached 7,039 units, up 63 percent from the same period a year ago to become the No. 3 seller in the Korean import car makers.

The surge in its sales was primarily led by growing popularity of its mid-sized sedan Camry, which sold 4,387 units in the first five months this year. It accounts for more than 50 percent of the automaker`s total sales in Korea and is equivalent to 70 percent of the model’s total sales last year.

The new Toyota Camry launched in October 2017 is built on the new Toyota Next Generation Architecture (TNGA) platform, which is more rigid than the previous one, enabling Toyota to situate the seats, roof and bonnet lower for a sportier new look. Its hybrid version Camry Hybrid is powered by a 211-horsepower motor and boasts better mileage that can cover up to 16.7 kilometers per one liter of oil.

Toyota’s Prius C, the popular compact petrol-electric hybrid hatchback model, also has been well received in Korea with sales reaching 370 units, almost half of its sales target for 2018, in just three months since its release in March.

“Considering that the rise in oil prices leads to a sales increase of green cars, Toyota would see a remarkable growth in sales in Korea with its hybrid models,” said an official at the automotive industry.

By Kang Young-woon and Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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