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New Cars in South Korea

Publisher MarketLine
Published Sep 04, 2025
Length 45 Pages
SKU # MTLN20645742

Description

New Cars in South Korea

Summary

New Cars in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
  • New cars market includes retail sales/registrations of new passenger cars. The scope of passenger cars covers saloons, hatchbacks, SUVs, 4x4s, and light pickup vehicles. Market volume refers to the total number of cars sold in a year, while market value is calculated by multiplying the average retail selling price with the market volume.
  • The South Korean new cars market recorded revenues of $36.1 billion in 2024, representing a compound annual growth rate (CAGR) of 0.4% between 2019 and 2024.
  • Market consumption volumes declined with a negative CAGR of 1.0% between 2019 and 2024, reaching a total of 1,423,559.0 units in 2024.
  • During 2019-24, the volume of the South Korean new cars market contracted by 1.0%, primarily due to the rise in consumer price inflation. According to the World Bank, the consumer price inflation rate surged to 5.1% in 2022. This rise in inflation affected consumer confidence, leading to a decreased willingness to make significant purchases such as vehicles.
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 by both value and volume
Reasons to Buy
  • What was the size of the South Korea new cars market by value in 2024?
  • What will be the size of the South Korea new cars market in 2029?
  • 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?
  • Who are the top competitors in South Korea's new cars market?

Table of Contents

45 Pages
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Geography segmentation
1.6. Market share
1.7. Market rivalry
1.8. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
3.2. Market volume
4 Market Segmentation
4.1. Geography segmentation
5 Market Outlook
5.1. Market value forecast
5.2. Market volume forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What are the strengths of the leading players?
7.5. What are the recent developments in the market?
8 Company Profiles
8.1. Bayerische Motoren Werke AG
8.2. Renault-Nissan-Mitsubishi Alliance
8.3. Mercedes-Benz Group AG
8.4. Hyundai Motor Co
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Korea new cars market value: $ billion, 2019-24
Table 2: South Korea new cars market volume: units, 2019-24
Table 3: South Korea new cars market geography segmentation: $ billion, 2024
Table 4: South Korea new cars market value forecast: $ billion, 2024-29
Table 5: South Korea new cars market volume forecast: units, 2024-29
Table 6: South Korea new cars market share: % share, by volume, 2024
Table 7: Bayerische Motoren Werke AG: Key Facts
Table 8: Bayerische Motoren Werke AG: Annual Financial Ratios
Table 9: Bayerische Motoren Werke AG: Key Employees
Table 10: Bayerische Motoren Werke AG: Key Employees Continued
Table 11: Renault-Nissan-Mitsubishi Alliance: Key Facts
Table 12: Renault-Nissan-Mitsubishi Alliance: Key Employees
Table 13: Mercedes-Benz Group AG: Key Facts
Table 14: Mercedes-Benz Group AG: Annual Financial Ratios
Table 15: Mercedes-Benz Group AG: Key Employees
Table 16: Mercedes-Benz Group AG: Key Employees Continued
Table 17: Hyundai Motor Co: Key Facts
Table 18: Hyundai Motor Co: Annual Financial Ratios
Table 19: Hyundai Motor Co: Key Employees
Table 20: Hyundai Motor Co: Key Employees Continued
Table 21: South Korea Exchange Rate, 2019-24
List of Figures
Figure 1: South Korea new cars market value: $ billion, 2019-24
Figure 2: South Korea new cars market volume: units, 2019-24
Figure 3: South Korea new cars market geography segmentation: % share, by value, 2024
Figure 4: South Korea new cars market value forecast: $ billion, 2024-29
Figure 5: South Korea new cars market volume forecast: units, 2024-29
Figure 6: Forces driving competition in the new cars market in South Korea, 2024
Figure 7: Drivers of buyer power in the new cars market in South Korea, 2024
Figure 8: Drivers of supplier power in the new cars market in South Korea, 2024
Figure 9: Factors influencing the likelihood of new entrants in the new cars market in South Korea, 2024
Figure 10: Factors influencing the threat of substitutes in the new cars market in South Korea, 2024
Figure 11: Drivers of degree of rivalry in the new cars market in South Korea, 2024
Figure 12: South Korea new cars market share: % share, by volume, 2024

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