Small four-door vehicles and small SUVs were the most popular luxury car formats in 2018, among younger consumers and families with children respectively. The strong car frame is the most appealing point for consumers who choose small SUVs.
During 2018, the government temporarily lowered the special consumption tax, which is levied on cars to bolster the domestic economy. The tax rate was lowered from 5% to 3.
The government continued to invest in infrastructure for electric cars. However, several issues hampered growth.
Following an 18-month ban on sales imposed on Audi after the emissions scandal, sales resumed in 2018 and the brand began to recover. In July 2018, Audi Korea offered a 40% discount on the A3 model.
BMW is expected to see sharp share decline in 2018 due to a series of engine fire incidents, which led to extensive recalls and investigations. As of August 2018, 40 BMW vehicles caught fire either while being driven or when parked.
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