South Korea Autos Q2 2019
In 2019, we believe that South Korea's new vehicle sales market will continue on its contractionary trajectory, andcontract by 4.1%, this follows a contraction of 0.5% in 2018. The primary reasons for the continued weakness of the South Koreanautomotive sector is its high youth unemployment, which will continue to place a cap on the growth potential of vehicle sales, andwaning consumer confidence that will lead consumers away from making larger purchases, such as new vehicles. Thegovernment's attempt to prop up the automotive sector by upgrading their fleets will fade and coupled with its expected tighteningof its monetary policy, will fail to stem the weakening of its new vehicle market over our 2019-2028 forecast period.
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