South Korea Used Car Market – Industry Analysis, Share, Size, Demand Forecast 2026 : Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Buy Now Increasing Online Presence: The year 2020 saw a tremendous increase in the usage of the online space for buying and selling cars. Although online classified platforms such as Encar and Kb Cha Cha Cha were gaining traction for quite some time, the pandemic made it absolutely necessary for most of the dealers to have an online presence. More than 60% of the lead generation for used cars in the year 2021, happened via the online platforms. Several brands introduced the concept of virtual showrooms to promote minimum contact and social distancing between buyers and sellers. Impact on Used Car Sales due to Covid-19: Multiple trends in the used cars industry were observed since the onset of Covid-19. Both new and used car sales were witnessing negative growth rates in 2018 and 2019. The pandemic led to an increase in the sales of cars – both new and used, which led to positive growth rates in used car sales. Sales of used cars picked up from March as people were avoiding public transport. Consequently, buying second hand car was the most economical and safe option. Increasing Demand for Cars with Quality Assurance: Certified used cars have a special system of certification which is difficult to obtain by used car dealers. The system allows only a limited number of businesses and consumers to purchase certified cars. However, activation of quality assurance is encouraging the expansion and revitalization of the entire used car market. Dealers and Dealerships are focusing on offering reasonable assurance and warranty that their cars conform to the quality standards set by them. High Customer to Customer Transactions Facilitating Growth of Online Classifieds: The used car segment has transformed into a platform economy with the assistance from online classifieds. Buyers and sellers of used cars can directly connect with each other on the classified platforms or through social networking sites, without the need to look for an intermediary. In overseas markets such as the United States and Germany, the proportion of direct sales of used cars between individuals is significantly lower than in South Korea. This provides an opportunity for Online Classifieds and Transaction Portals to capture the market. Increased Facilities Offered by Online Platforms: Many online classifieds are enabling sellers to sell their cars directly to dealers through online bidding, reducing the lead time for sellers who want to sell urgently. Furthermore, companies are trying to increase their sourcing channels for the purchase of vehicles to sell them at a lesser cost. Value-Added Services such as financing options, leasing, renting and providing after sales is still in infancy stage but has seen an acceleration in adoption due to Covid-19. Analysts at Ken Research in their latest publication “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” observed that South Korea is in a maturity phase in the used car market in South East Asia and is gradually recovering from the economic crisis after the pandemic. The increasing E-Commerce penetration is giving a boost to this industry. Going forward, the industry is expected to demonstrate further growth in the short-medium term fueled by the growth of online used car platforms that provide convenience to both buyers and sellers. South Korea Used Car Market is expected to grow at a CAGR of 1% on the basis of sales volume over the forecast period 2021P – 2026F. 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) 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 Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MDY3 Time Period Captured in the Report:- Historical Period – 2015 – 2021P Forecast Period – 2021P – 2026F Key Topics Covered in the Report 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 For more information on the research report, refer to below link: South Korea Used Car Market Growth Rate, Trends and Revenue to 2026 Related Reports Indonesia Used Car Market Outlook To 2025 – By Market Structure (Organized & Unorganized), By Type Of Car (MPVs, Hatchbacks, SUVs & Others), By Brand (Toyota, Honda, Daihatsu, Suzuki & Others), By Vehicle Age, By Mileage, By Customer Age And By Region (DKI Jakarta, East Java, West & Central Java, North Sumatera & Others)” Saudi Arabia Used Car Market Outlook To 2025- By Market Structure (Organized & Unorganized), By Type Of Car (Sedans & Hatchbacks, SUVs & Crossovers, Pick-Ups And Luxury), By Brand (Toyota, Hyundai, GMC & Chevrolet, Ford And Others), By Type Of Sourcing, By Age Of Vehicle (Less Than 1 Year, 1-3 Years, 3-5 Years & More Than 5 Years), By Kilometers Driven (Less Than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & More Than 120,000 Km) And By Region (Northern, Southern, Central, Eastern And Western)” Malaysia Used Car Market Outlook To 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fueled by Covid-19 to accelerate Industry’s Growth Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: Aj SellCar Auction Market, Aj SellCar South Korea Users, Auctioned Cars in South Korea, AutoDeal South Korea Users, Autohands South Korea Users, Benz Hansung Used Car Market, BMW Bavarian Motors Market, BMW Deutsch Motor Market, Covid-19 Impact South Korea Used Car Market, Encar Market, Encar South Korea Number of Listings, Future Outlook of Used Cars in South Korea, GM Korea Market share, Hey Dealer South Korea Users, Honda Market Share, Hyundai Glovis Market, Hyundai Market Share, Industry Research Report Of South Korea Used Card, K Car Auction Market, K-Cars South Korea Users, Kb Cha Cha Cha Market, Kb Cha Cha Cha South Korea Number of Listings, KCC Auto Market, Lotte Rental – Auction Market, Market Research Report Of South Korea Used Car, Number of Online Used Car Companies in South Korea, Number of Online Used Car Companies South Korea, Number of Used Car Companies in South Korea, Number of Used Car Dealers South Korea, Number of Used Hatchbacks sold South Korea, Number of Used MPVs sold South Korea, Number of Used Sedans sold South Korea, Number of Used Sports Cars sold South Korea, Number of Used SUVs sold South Korea, Online classified players used car space South Korea, Online portals for Used Car South Korea, Partnerships Used Car South Korea, Region Wise Used Cars Sales South Korea, Snapshot South Korea Used Car, South Korea Used Car Competition, South Korea Used Car Industry, South Korea Used Car Industry Research Report, South Korea Used Car Market, South Korea Used Car Market Analysis, South Korea Used Car Market Competition, South Korea Used Car Market Demand, South Korea Used Car Market Future Outlook, South Korea Used Car Market Growth, South Korea Used Car Market Major Players, South Korea Used Car Market Research Report, South Korea Used Car Market Revenue, South Korea Used Car Market Sales, South Korea Used Car Market Share, South Korea Used Car Market Size, South Korea Used Car Market Trends, South Korea Used Car Research Report, Used Car Current Status South Korea, Used Car Domestic Players South Korea, Used Car Foreign Players South Korea, Used Car Industry In South Korea, Used Car Market In South Korea, Used Car Market South Korea, Used Car Present Status South Korea, Used Car Sales South Korea, Used Car to New Car Ratio South Korea, Used Car Value Chain