Official dealer for Mercedes-Benz aims to double sales by 2020

Hansung Motor, the local importer and distributor of Mercedes-Benz, said Thursday that it aims to double its sales of the German brand in South Korea within five years.

Hansung Motor said that it will push to achieve the sales target by 2020, with steady investment on showrooms and customer service centers, a move aimed at enhancing the overall customer experience.

Last year, the company sold 16,000 cars, which it is aiming to raise to about 30,000 units by the cited year. Hansung Motor accounts for 42 to 44 percent of sales of the Mercedes-Benz brand in Korea.

The business plan was announced in an event marking the 30th anniversary of its launch.

Hansung Motor, the largest foreign car importer and official dealer for Mercedes-Benz, posted 1.27 trillion won ($1.17 billion) in sales in 2014, up 49 percent from a year earlier. This marked the first time that its annual sales have exceeded the 1 trillion won mark.

Its net income and operating profit came to 34.8 billion won and 40.9 billion won, respectively.

Last year, about 35,000 Mercedes-Benz vehicles were sold in South Korea, a 42 percent hike from a year earlier. Its market share stood at 18 percent in the imported car market here, which ranked second after BMW, which held a 20 percent share. (Yonhap)