Demand for SUVs Sags in S. Korea

Sales of SUVs and crossover vehicles in South Korea jumped 85% to 452,200 units in the four years to 2015. But demand last year rose only 0.5%, according to the Korea Automobile Manufacturers Assn.

The slowdown suggests the country’s SUV market has plateaued, The Korea Herald says. The Seoul-based daily notes that the proportion of the country's passenger vehicle market represented by SUV/crossovers slipped 0.3 points to 33.8% last year, the segment's first decline in several years.

The trend has accelerated this year. KAMA reports that year-on-year sales for the segment dropped 9% to 27,700 units in January. And SUVs captured only 31.9% of the market. Analysts blame the trend on market saturation and the rising price of fuel.