Korea is the second-largest Asian market for luxury Rolls-Royce

Rolls-Royce Motor Cars Ltd.’s Ghost [Photo provided by Rolls-Royce Motor Cars]

Sales of Rolls-Royce Motor Cars Ltd. in South Korea surpassed those in Japan in the first quarter of this year, making the country the second-largest Asian market for the luxury carmaker after China.

According to the Korea Automobile Importers & Distributors Association and the Japan Automobile Importers Association on Friday, Rolls-Royce sold 154 units in South Korea and 111 units in Japan from January to June. Over the same period last year, Japan held the position of Rolls-Royce’s second-largest market in Asia, with 134 units sold, while 119 units were sold in South Korea.

Although specific sales figures for China are not available, it is estimated to contribute around 30 percent of Rolls-Royce’s global sales. In 2022, Rolls-Royce recorded a total of 6,021 car sales worldwide.

In the first half of this year, South Korea saw the sale of 85 units of the Cullinan, sold for at least 544 million won ($417,498), 52 units of the Ghost, priced at 515 million won, and 17 units of the Phantom.

On an annual basis, Rolls-Royce sold 234 cars in Korea and 240 in Japan last year. In 2012, sales figures were at 27 units in Korea and 90 units in Japan. Over the past decade, Rolls-Royce sales in Japan have grown by 2.7 times, while in Korea, they have increased by 8.7 times.

Rolls-Royce is paying much attention to the Korean market, recognizing the country’s significant growth potential.

“South Korea is a very dynamic market with substantial growth. It has the potential to become a leading market for Rolls-Royce in the near future,” Rolls-Royce said in the announcement of sales in January.

South Korea’s expanding presence in the luxury import market is not limited to Rolls-Royce alone. In the previous year, the Mercedes-Maybach S 580, a high-end large-sized sedan, achieved sales of 1,527 units in the country. Currently, this model is sold for approximately 290 million won. In 2022, China emerged as the top-selling country for Maybachs worldwide, with South Korea securing the second spot. Notably, more Maybachs were sold in South Korea than in the brand‘s home country of Germany.