Porsche claims top spot in Korean convertible vehicle market

Porsche 718 Boxster. [Courtesy of Porsche Korea]

German automobile manufacturer Porsche AG, secured the top spot in South Korea’s convertible vehicle market in 2023, beating its rival brand BMW from the same country.

According to data from the Korea Automobile Importers & Distributors Association (KAIDA), Porsche sold 1,207 convertibles in 2023, 130 units more than BMW with 1,069 units.

Korea’s convertible market is relatively small with annual sales of just over 3,000 units. For this reason, Korean automakers such as Hyundai Motor Co. and Kia Corp. have not released vehicles in this category.

Foreign car manufacturers, on the other hand, have competed by releasing various convertible models, citing that these vehicles draw attention from drivers.

A prominent example is BMW‘s Z4. This model was launched exclusively as a convertible and sold 462 units in 2023, nearly half of BMW’s convertible sales.

Mercedes-Benz was the dominant player in the Korean convertible market until recent years.

In 2020, Mercedes-Benz sold 1,185 convertible vehicles, surpassing Porsche (860 units) and BMW (767 units).