New Cars in South Korea - Market Summary, Competitive Analysis and Forecast to 2024

New Cars in South Korea - Market Summary, Competitive Analysis and Forecast to 2024

  • December 2020 •
  • 47 pages •
  • Report ID: 6072468 •
  • Format: PDF
New Cars in South Korea - Market Summary, Competitive Analysis and Forecast to 2024

Summary
New Cars in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
- The new cars market consists of the initial retail sale/registration of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s and other related vehicles. The market value is calculated at retail selling price (RSP) and the market volume is given in terms of units sold. Market share data for the New Cars industry applies to motor manufacturing groups as opposed to their individual brands, i.e. for the Volkswagen Group this includes all of its brands such as Volkswagen, Audi, Skoda, Seat etc. therefore where possible, market share data represents sales figures for every brand in that manufacturing group within each country. Any currency conversions used in this report have been calculated at constant 2019 annual average exchange rates.
- The South Korean new cars market had total revenues of $57.5bn in 2019, representing a compound annual growth rate (CAGR) of 2.1% between 2015 and 2019.
- Market consumption volume increased with a CAGR of 0.1% between 2015 and 2019, to reach a total of 1,539.1 thousand units in 2019.
- A stricter law framework on the taxation of business cars, introduced in 2016, affected demand as the loophole that allowed private owners to register their cars as business cars to pay concessionary tax rates was closed.

Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the new cars market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in South Korea
- Leading company profiles reveal details of key new cars market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea new cars market with five year forecasts

Reasons to Buy
- What was the size of the South Korea new cars market by value in 2019?
- What will be the size of the South Korea new cars market in 2024?
- What factors are affecting the strength of competition in the South Korea new cars market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea’s new cars market?
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