Japanese automaker Toyota Motor and British maker Jaguar Land Rover saw sharp increases in sales last year in South Korea, each achieving 1 trillion won ($887 million) sales milestone.
According to the automotive industry on Thursday, Toyota Korea recorded 1.05 trillion won in sales for the fiscal year ended March 2018, breaking the 1 trillion won threshold for the first time in Korea.
Its revenue of 443.1 billion won in 2013 rose to 538.7 billion won in 2014, 596.9 billion won in 2015 and 856.2 billion won in 2016.
Jaguar Land Rover Korea also reported an on-year increase in sales for the same period, gaining 10.6 percent to reach 1.02 trillion won. Its revenue expanded for the sixth consecutive year - 209.1 billion won in 2012, 336.7 billion won in 2013, 474 billion won in 2014, 747.6 billion won in 2015 and 919.8 billion won in 2016.
Korea’s import car market has long been dominated by the big three German names of Mercedes-Benz, BMW and Volkswagen that have passed the 1 trillion won sales milestone already in 2012. This is the first time other foreign brands joined the 1 trillion won sales club.
For the same fiscal year, Mercedes-Benz Korea as the top import car seller earned 4.27 trillion won in revenue, and BMW Korea 3.63 trillion won.
By Kang Young-woon and Lee Ha-yeon
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