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Cars from South Korea are taking up a good share of the market in Albania. This East Asian country ranks second after Italy in terms of vehicle imports, leaving behind Germany and Switzerland.
" For the price, it is almost 20-30% cheaper than the market in Germany, Italy, Switzerland, and around Europe. The reason why they are cheaper is because Korea is continuing to introduce electric cars and is phasing out diesel and gasoline cars ," says mechanic Kreshnik Ndreka.
Citizens are oriented towards economic prices, compared to cars coming from Europe. The only interventions they make are for the aesthetic part of the cars, thus increasing their value in the market.
"They can take a 2015 and they can turn it from 2015 to 2018, put a bodykit on it, or a new look, both exterior and interior. These cars come functional from Korea and are ready to hit the road. With these adjustments, they can fetch 30 to 35 thousand euros in value. How much was it bought in Korea? 20 thousand euros ," adds mechanic Ndreka.
In 2024, South Korea became the main source of imported cars in Albania for the first time. 18,800 vehicles were registered from this country, accounting for 19% of total registrations in Albania for that year.
" All parts of Korea, Germany, here they all get them in stores - there are plenty. They are bought in stores, regularly. Which is difficult, it is few, because they bring new ones, with 0 km. Then, the used ones... this is what we are for. We know where the stores are, we know what is sold ," Ndreka continues.
From around 870 million lek of vehicle imports in 2018, last year marked a strong increase, reaching 8.5 billion lek – a nearly 10-fold increase in five years. In 2024 alone, around 99,440 cars were registered, a 25% increase compared to 2023 – and 1 in 5 cars came from South Korea.
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