South Korea Used Car Market Outlook To 2026
Relaxed Government Regulations on Big Companies Entering Used Car Market to Facilitate Increase in the Used Cars Sales and Improve the Organized Market Share
February 2022
120
About the Report
About the Report
- By Market Structure
- Organized
- Unorganized
- By Organized Channel Source of Lead generation
- Online
- Dealership walk-ins
- By Sales Channel
- B2C
- C2C
- By Type of Car
- Luxury Sedan
- Sedan
- Hatchback
- SUV
- MPV
- Others (Sports car, Station wagon)
- By Engine Size
- 2000 CC and Below
- 2000 CC – 3000 CC
- 3000 CC – 4000 CC
- 4000 CC and Above
- By Brand
- Hyundai
- Kia
- GM Korea
- Renault Samsung
- Ssangyong
- Benz
- BMW
- Genesis
- Audi
- Volkswagen
- Others (Includes both domestic and international brands)
- By Region
- Gyeonggi
- Seoul
- Gyeongnam
- Gyeongbuk
- Incheon
- Busan
- Chungnam
- Dae-Gu
- Jeonnam
- Jeonbuk
- Chungbuk
- Gangwon
- Gwangju
- Daejeon
- Ulsan
- Jeju
- Sejong
- By Age
- 0-2 Years
- 2-4 Years
- 4-6 Years
- 6-8 Years
- 8-10 Years
- More than 10 Years
- By Mileage
- Less than 20,000
- 20,000 – 40,000 Km
- 40,000 – 60,00 Km
- 60,000 – 80,000 Km
- 80,000 – 100,000 Km
- Over 100,00 Km
- By Fuel
- Petrol
- Diesel
- Electric
- Others (Petro-Electric, Diesel-Electric, etc.)
- By Transmission Type
- Auto
- Manual
- Others (Semi-Auto, CVT)
- Authorized Dealers
- Benz Hansung
- BMW Deutsch Motor
- BMW Bavarian Motors
- KCC Auto
- C2B/C2B2C/B2C
- K-Cars
- Aj SellCar
- Autohands
- Hey Dealer
- U-Car
- Autoplus
- Online Portals – Online Auto Classified Platforms
- Encar
- Kb Cha Cha Cha
- Auction Players
- Hyundai Glovis
- Lotte Rental – Auction
- Aj SellCar Auction
- K Car Auction
- Historical Period – 2015-2021P
- Forecast Period – 2021P – 2026F
- Executive Summary
- Research Methodology
- South Korea Used Car Market Overview
- South Korea Used Car Market Size, 2015-2021P
- South Korea Used Car Market Segmentation, 2021P
- Growth Drivers in South Korea Used Car Market
- Issues and Challenges in South Korea Used Car Market
- Government Regulations
- Ecosystem and Value Chain of Used Car Industry in South Korea
- Customers Purchase Decision Making Parameters
- Cross Comparison between Major Authorized Dealers and Multi-brand Dealers
- Snapshot on Online used car market
- Future Market Size and Segmentations, 2021P - 2026F
- Covid-19 Impact on the Industry & the way forward
- Analysts’ Recommendations
Products
Products
Key Segments Covered
- By Market Structure
- Organized
- Unorganized
- By Organized Channel Source of Lead generation
- Online
- Dealership walk-ins
- By Sales Channel
- B2C
- C2C
- By Type of Car
- Luxury Sedan
- Sedan
- Hatchback
- SUV
- MPV
- Others (Sports car, Station wagon)
- By Engine Size
- 2000 CC and Below
- 2000 CC – 3000 CC
- 3000 CC – 4000 CC
- 4000 CC and Above
- By Brand
- Hyundai
- Kia
- GM Korea
- Renault Samsung
- Ssangyong
- Benz
- BMW
- Genesis
- Audi
- Volkswagen
- Others (Includes both domestic and international brands)
- By Region
- Gyeonggi
- Seoul
- Gyeongnam
- Gyeongbuk
- Incheon
- Busan
- Chungnam
- Dae-Gu
- Jeonnam
- Jeonbuk
- Chungbuk
- Gangwon
- Gwangju
- Daejeon
- Ulsan
- Jeju
- Sejong
- By Age
- 0-2 Years
- 2-4 Years
- 4-6 Years
- 6-8 Years
- 8-10 Years
- More than 10 Years
- By Mileage
- Less than 20,000
- 20,000 – 40,000 Km
- 40,000 – 60,00 Km
- 60,000 – 80,000 Km
- 80,000 – 100,000 Km
- Over 100,00 Km
- By Fuel
- Petrol
- Diesel
- Electric
- Others (Petro-Electric, Diesel-Electric, etc.)
- By Transmission Type
- Auto
- Manual
- Others (Semi-Auto, CVT)
Time Period Captured in the Report:-
- Historical Period – 2015-2021P
- Forecast Period – 2021P – 2026F
Companies
Companies Covered
- Authorized Dealers
- Benz Hansung
- BMW Deutsch Motor
- BMW Bavarian Motors
- KCC Auto
- C2B/C2B2C/B2C
- K-Cars
- Aj SellCar
- Autohands
- Hey Dealer
- U-Car
- Autoplus
- Online Portals – Online Auto Classified Platforms
- Encar
- Kb Cha Cha Cha
- Auction Players
- Hyundai Glovis
- Lotte Rental – Auction
- Aj SellCar Auction
- K Car Auction
Table of Contents
Table of Contents
1. 1. Executive Summary
1.1 Flow Chart
1.2 Used Car Ecosystem
1.3 Genesis of Used Car Industry in South Korea
1.4 Used Car Offline Business Models
1.5 Cross Comparison across Countries
2. Country and Economic Overview
2.1 Macro Economic Overview
2.2 Ease of Doing Business in South Korea
2.3. Demographic Overview
2.4 E-Commerce Overview
2.5 E-Commerce Penetration
3. Supplementary Services
3.1 Trends and Developments in South Korea Auto Finance Industry
3.2 South Korea Auto Finance Market Ecosystem
3.3 Comparison between Banks
3.4 Comparison between Non-Bank Financial Institutions
3.5 Auto Insurance
3.6 Aftermarket
3.7 Warranties
4. Overview, Opportunity & Current Scenario of the Industry
4.1 Value Chain of Used Car Industry in South Korea
4.2 Sourcing of Used Cars for Dealers and Direct Buyers in South Korea
4.3 Lead Generation of Used Cars for Dealers and Direct Consumer Purchases in South Korea
4.4 SWOT Analysis
5. Demand & Supply Analysis
5.1 Market Sizing Analysis for South Korea Used Car Industry basis Volume & GTV, 2015-2021
5.2 Impact of Covid-19
5.3 Segmentation: By Market Structure (Organized and Unorganized Market), 2021
5.4 Further Segmentation of Organized Channel: By Source of Lead Generation (Online and Dealership Walk-Ins), 2021
5.5 Segmentation: Basis Sales Channel (B2C and C2C) and C2C Sourcing Proportions, 2021P
5.6 Segmentation: By Car Body Type (SUVs, Sedans, Luxury Sedans, Hatchbacks, MPVs, Others), 2021P
5.7 Segmentation: By Brand (Hyundai, Kia, GM Korea, Renault Samsung, SsangYong, Mercedes Benz, BMW, Genesis, Audi, Volkswagen and Others), 2021P
5.8 Segmentation: By Mileage (20,000 Km, 20,000 - 40,000 Km, 40,000 - 60,000 Km, 60,000 - 80,000 Km, 80,000 -100,000 km and Over 100,000 Km), and Type of Fuel Engine (Petrol, Diesel, Electric and Others), 2021P
5.9 Segmentation: By Regions (Gyeonggi, Seoul, Gyeongnam, Incheon, Busan, Chungnam, Dae-Gu, Jeonnam, Jeonbuk, Chungbuk, Gangwon, Gwangju, Daejeon, Ulsan, Jeju, Sejong), 2021P
5.10 Segmentation: By Vehicle Age ( 0-2 years, 3-4years, 4-6 years, 6-8 years, 8-10 years and more than 10 years), 2021P
5.11 Segmentation: By Engine Size (Below 2000 cc, 2000 - 3000 cc, 3000- 4000 cc, and Above 4000 cc), Transmission Type (Auto, Manual and Others) and Car Parcs, 2021P
6. Industry Analysis
6.1 Trends and Developments in South Korea Used Car Market
6.2 Challenges and Restraints
6.3 Government Regulations Overview
6.4 Car Sales Regulations
6.5 Car Verification
6.6 Car Engine Requirements - Gasoline Vehicles
6.7 Car Engine Requirements - Diesel Vehicles
6.8 Car Transfer Regulation
6.9 Used Car Financing Options
6.10 Decision Making Process in Buying a Used Car in South Korea
7. Competitive Landscape
7.1 Competition Landscape for South Korea Used Car Market
8. Snapshot on Online Used Car Platforms in South Korea
8.1 Customer Pain Points in Used Car Industry
8.2 Online Used Car Marketplaces Business Models
8.3 Proposed Business Framework
8.4 Online Used Cars Transactional Platforms in South Korea
8.5 Competition Scenario - Market Positioning of Auto Classified Portals
8.6 Cross Comparison Between Major Online Classifieds in South Korea Used Car Market (1/3)
8.7 Cross Comparison Between Major Online Classifieds in South Korea Used Car Market (2/3)
8.8 Cross Comparison Between Major Online Classifieds in South Korea Used Car Market (3/3)
8.9 Strengths and Weaknesses of Major Online classifieds
9. Snapshot on Auction Players
9.1 Cross Comparison Between Major Auction Players in South Korea Used Car Market (1/2)
9.2 Cross Comparison Between Major Auction Players in South Korea Used Car Market (2/2)
10. Snapshot on Authorized Dealers
10.1 Cross Comparison Between Major Authorized Dealers in South Korea Used Car Market (1/2)
10.2 Cross Comparison Between Major Authorized Dealers in South Korea Used Car Market (2/2)
10.3 Strengths and Weaknesses of Major Authorized Dealers
11. Snapshot on C2B Online Used Car Market in South Korea
11.1 Snapshot on C2B Online Used Car Market in South Korea
12. Snapshot on Major C2B Competitors
12.1 Cross Comparison Between Major Online C2B Players in South Korea Used Car Market (1/4)
12.2 Cross Comparison Between Major Online C2B Players in South Korea Used Car Market (2/4)
12.3 Cross Comparison Between Major Online C2B Players in South Korea Used Car Market (3/4)
12.4 Cross Comparison Between Major Online C2B Players in South Korea Used Car Market (4/4)
12.5 Strengths and Weaknesses of Major Online C2B Auto Portals
13. Future Outlook and Projections
13.1 Covid-19 Impact: South Korea Used Car Industry
13.2 Future Outlook & Market Size of Used Car Industry, 2021P-2026F
13.3 Future Market Segmentations: Market Structure and Source of Lead Generation (Organized Channel), 2026F
13.4 Future Market Segmentations Basis Sales Channel (B2C, C2C), Type of 13.5 13.5 Fuel Engine and Car Parcs, 2026F
13.6 Future Market Segmentations Basis Type of Car, 2026F
13.7 Future Market Segmentations Basis Brand, 2026F
13.8 Future Market Segmentations Basis Mileage, 2026F
13.9 Future Market Segmentations Basis Engine Size and Vehicle Age, 2026F
13.10 Future Trends and the Way Forward
14. Case Study Analysis
14.1 CarTrade (India)
14.2 Cars24 (UAE)
14.3 CarSwitch (UAE)
15. Analyst Recommendation
16. Appendix
Disclaimer
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