The number of automobiles registered in South Korea surpassed 15 million units as of late February, the Ministry of Construction and Transportation (MOCT) said Wednesday.



Private passenger cars accounted for 10.69 million units, or 71.3 percent of the total, followed by trucks with 3.06 million vehicles, buses with 1.19 million and other vehicles with 47,000 units.



"We had expected to reach the 15 million mark in March, but the time came earlier due to a rebound in consumer sentiment for passenger cars," an MOCT official said.



Officials said demand for mini-cars and large sedans have been growing in recent months, while other segments have seen a drop in sales.



The number of gasoline-powered vehicles stood at 7.72 million, or 51.5 percent. Diesel-powered ones numbered 5.42 million, while 1.8 million used liquefied petroleum gas.



The number of smaller cars was on the decline, as a growing number of Korean drivers purchase larger vehicles. However, the demands for mini-cars remain strong because of tax benefits from the government and better fuel economy.



Ministry officials said luxury sedans have gained popularity as South Koreans are becoming richer. The officials expected demand for large sedans will surge once the country?s per capita income tops $20,000.



The ministry said the largest number of cars was registered in Kyonggi Province with 3.38 million. Seoul and South Kyongsang Province have 2.78 million and 1.02 million cars, respectively.



Seoul, Kyonggi Province and Inchon account for 46.3 percent of all vehicles in the country, the ministry said.



South Korea has imported 4,096 vehicles so far this year, bringing the total number of foreign cars to 149,214, or 0.99 percent, of all cars on Korean roads.



The latest vehicle registration data also shows there is an average of 0.86 vehicles for every household.









- article by Na Jeong-Ju from the Korea Times

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