Supercar brands eye fast-growing Korean market

Published : Nov 26, 2018 - 09:22 Updated : Nov 26, 2018 - 09:22

Lamborghini and other foreign supercar makers are ramping up efforts to tap the fast-growing South Korean market by unveiling new models, industry sources said Monday.

Italian supercar brand Lamborghini recently held a Lamborghini Day event in Seoul to share its brand vision, strategy and plans with journalists and customers. It was Lamborghini's inaugural event in South Korea and the carmaker plans to hold it annually.

From Left: Lamborghini`s super Urus SUV and Aventador SVJ (Yonhap)

At the event, Lamborghini unveiled its super SUV Urus and Aventador SVJ, the fastest Aventador yet, in South Korea

The two models, whose starting prices stand at 200 million won (US$177,000) and 600 million won, respectively, are slated to hit the South Korean market during the first half of next year.

Maserati of Italy was set to roll out its Levante GTS SUV in South Korea, the highest end of its Levante model that accounts for nearly 40 percent of its sales in South Korea.

British supercar maker McLaren is slated to debut its handmade 600LT, the new pinnacle of its Sport Series range, in South Korea on Dec. 13 in a bid to tap the local market.

Supercar sales have been growing at a fast pace in South Korea in recent years.

According to the Korea Automobile Importers and Distributors Association, Maserati sold an estimated 1,400 units in South Korea in the first 10 months of this year, compared with 2,000 last year and 1,300 in 2016.

Lamborghini sold 24 units here in 2018, up from 20 vehicles in 2015 and four in 2015. Bentley sold 215 units during the January-October period, up 16 percent from a year earlier.

Sales of Rolls-Royce stood at 97 units during the 10-month period, up from 86 last year, with the full-year figure expected to exceed the 100 mark.

"The South Korean market for supercars has great growth potential as it is continuing to expand," an industry source said.

"South Korea is one of the markets that foreign supercar brands are paying close attention." (Yonhap)