3 Catalysts to Help the Used Car Sales to Touch Nearly 3 Mn Units By 2026 in South Korea; Will The Growth Sustain? Ken Research Covid-19 pandemic along with South Korean Government nearly 1 Tn Won ($1 Bn) plan to develop autonomous vehicle technologies led South Korea Used Car Market Basis Volume nearly 3 Mn units in 2021, as per findings released by Ken Research. 1. Impact on Used Car Sales in the country due to Covid-19: Is the growth… Read More »
Expansion of Distribution Network Sets the Path for Used Car Sales to Reach More Than 2.5 Mn by 2026; What Are Its Significance in The Upcoming Years? Ken Research There has been a consistent increase in used car sales between 2019 and 2021 as consumer income levels fell due to the pandemic, customers preferred purchasing pre-owned cars. Used car sales to witness a CAGR of 1.0% over 2021-2026, as per findings released by Ken Research. 1. Low Unemployment Rate and Moderate Labor Force Participation… Read More »
South Korea Used Car Market is currently in its Growing Stage Owing to low unemployment rate & increasing need for personal vehicle: Ken Research 1. The Used Car Industry in South Korea is growing at CAGR of 1% Basis Volume, with Brands Competing Intensely on Value Added Services Offered The South Korea Used Car market is in the Maturity stage. Easy availability of used car loans by various banks & NBFCs have led to the amplification of pre-owned car… Read More »
