South Korea Used Car Market Trends & Analysis Report By Application, By Region, And Segment Forecasts Till- 2027 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 The report titled “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” provides a comprehensive analysis of the used car market trends and performance in South Korea. The report covers several aspects such as volume of used cars sold & market size in terms of gross transaction value, target audience, growth facilitators, Government regulations, constraints & challenges faced by the industry, and so on. The report also covers a snapshot on South Korea online used car market, business models, value chain analysis, SWOT analysis, buying decision parameters, competitive scenario and company profiles. South Korea Used Car Industry report concludes with projections for future of the industry market size, market segmentations, the impact of Covid-19, and analyst take on the future market scenario. South Korea Used Car Market Overview and Size: South Korea Used Car market increased at a CAGR of 0.8% (by sales volume in units) during 2015-2021P. The market has reached its maturity phase. A combination of restrictions on public transport and a movement towards private travel have accelerated the sale of used cars. Moreover, the availability of various financing facilities offered through banks and NBFIs, high internet penetration and increased government spending have been instrumental factors in facilitating the growth of the South Korean used car market. South Korea Used Car Market Segmentations By Market Structure (Organized, and Unorganized): The organized segment dominates the South Korean used car market covering about 90% of the overall market space. The removal of restrictions on big finished car makers’ entry into the local used car market in 2019 and the formal entry of these players in 2022 will further contribute to increasing the organized used car market. By Organized Market Source of Lead generation (Online, Dealership walk-ins): The lead generation for used cars is South Korea has primarily taken place via the online platforms. The Authorized Dealers showcase the available used cars for sale mainly through their own websites. While, several multi-brand dealers prefer listing their inventory on the classified platforms as well. For buying and selling used cars in South Korea, social networking sites like Kakao talk, Facebook, and Instagram are gaining traction. By Sales Channel (B2C and C2C): B2C sales in South Korea mainly occur through dealership walk-in and inventory listed on online classified platforms or through dealers’ websites and Instagram pages, while C2C sales are mostly generated based on Online Classifieds & Offline References from friends & family. Social Media platforms like Kakaotalk and Facebook, are used extensively for C2C promotions and advertisements in order to reach a large set of potential customers quickly and free of cost. Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MDY3 By Type of Car: SUVs and Luxury Sedans are quite popular in South Korea. SUVs, Sedans and Luxury Sedans account for more than 70% of the market share. By Brand: Hyundai is the market leader in South Korea accounting for the major share of used cars sold by volume. Korean made brands such as Hyundai, Kia Motors and Ssangyong Motor, are some of the most preferred car brands due to strong brand preference, reliability and longer life span of the pre-owned car. Amongst the continental cars, BMW and Mercedes Benz are the most preferred. By Region: Most of the used cars market is concentrated in the Gyenonggi and Seoul region in South Korea. By Age: Generally, any new car in South Korea is owned for 3 – 4 years before being sold to another owner. Therefore, the average age of used cars in the country also lies within the same bracket. By Kilometers Driven: Cars with a mileage of 60,000-80,000 kilometers dominated the used cars market in South Korea in the year 2021P. By Fuel: Petrol and diesel run cars dominate the used car market in South Korea. Electric and hybrid cars accounted for about 10% in 2021P. Snapshot on Online Used Car Landscape The number of online used car portals and marketplaces have risen significantly along with rising internet penetration in South Korea over the last few years. Major dealers such as K-Cars, Aj Sell Car, Auto plus and others are using online platforms to increase their sales. Hence, there was an inevitable expansion in the lead generation of used cars via the online means. Social networking sites including Facebook and Instagram play a key role in expanding the used cars market in South Korea. Emergence of online auto-portals and classified platforms such as Encar and Kb Cha Cha Cha have provided increased visibility and credibility to the customer-to-customer transactions in the unorganized segment. South Korea had one of the fastest internet networks around the world. The internet infrastructure has been a high priority in numerous governmental regulations that led to its rapid and thorough expansion, contributing positively to the growth of the industry. Competitive Landscape of South Korea Used Car Market Various authorized dealerships, multi-brand outlets & independent (standalone as well as clustered dealers) operating in the industry have led to increased competition in the used car market. Most multi-brand dealers are providing value added services including easy financing options, handling the paperwork and warranty, to expand their market share and to compete with authorized dealers. South Korea Used Car Future Outlook & Projections The used car industry in South Korea is expected to demonstrate a decent growth in the future. It is expected to increase at a five year CAGR of 1.0% (by sales volume in units) from 2021P to 2026F. It is expected that the share of the organized segment in the used cars space will increase over time as more brands are planning to enter the OEM pre-owned certified space. Certain foreign established C2B players are too considering South Korea Used Car market a growing and profitable venture. Moreover, people in South Korea are realizing the advantages of buying a pre-owned cars through authorized outlets as there has been a shift in the general consumer preferences. 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 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, Size, Trends and Revenue 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 Follow Us LinkedIn | Facebook | Twitter | YouTube 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, K Car Auction Market, K-Cars South Korea Users, Kb Cha Cha Cha Market, Kb Cha Cha Cha South 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