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Country Report

Luxury Cars in

Luxury Cars in South Korea

Feb 2019

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Luxury cars in South Korea show highly uniform trend

Small four-door vehicles and small SUVs were the most popular luxury car formats in 2018, among younger consumers and families with children respectively. The strong car frame is the most appealing point for consumers who choose small SUVs.

Special consumption tax policy works benefits luxury cars

During 2018, the government temporarily lowered the special consumption tax, which is levied on cars to bolster the domestic economy. The tax rate was lowered from 5% to 3.

Setting up standards for electric cars remains an issue

The government continued to invest in infrastructure for electric cars. However, several issues hampered growth.

COMPETITIVE LANDSCAPE

Audi seeks recovery after lengthy sales ban

Following an 18-month ban on sales imposed on Audi after the emissions scandal, sales resumed in 2018 and the brand began to recover. In July 2018, Audi Korea offered a 40% discount on the A3 model.

BMW facing significant sales drop in 2018

BMW is expected to see sharp share decline in 2018 due to a series of engine fire incidents, which led to extensive recalls and investigations. As of August 2018, 40 BMW vehicles caught fire either while being driven or when parked.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in South Korea market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in South Korea?
What are the major brands in South Korea?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Luxury Cars in South Korea - Category analysis

HEADLINES

PROSPECTS

Luxury cars in South Korea show highly uniform trend

Special consumption tax policy works benefits luxury cars

Setting up standards for electric cars remains an issue

COMPETITIVE LANDSCAPE

Audi seeks recovery after lengthy sales ban

BMW facing significant sales drop in 2018

CATEGORY DATA

Table 1 Sales of Luxury Cars: Value 2013-2018
Table 2 Sales of Luxury Cars: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 5 Forecast Sales of Luxury Cars: Value 2018-2023
Table 6 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Strong and steady domestic demand supports luxury goods in 2018

Luxury goods appeal to many consumers

Daimler AG leads luxury goods in 2017

Retailing disruptors work as a blind spot for luxury goods

Retail value growth and government support expected

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2013-2018
Table 9 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 11 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 12 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 14 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Cars in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Luxury cars in South Korea show highly uniform trend

Special consumption tax policy works benefits luxury cars

Setting up standards for electric cars remains an issue

COMPETITIVE LANDSCAPE

Audi seeks recovery after lengthy sales ban

BMW facing significant sales drop in 2018

Overview

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Overview

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Table of Contents

Luxury Cars in South Korea - Category analysis

HEADLINES

PROSPECTS

Luxury cars in South Korea show highly uniform trend

Special consumption tax policy works benefits luxury cars

Setting up standards for electric cars remains an issue

COMPETITIVE LANDSCAPE

Audi seeks recovery after lengthy sales ban

BMW facing significant sales drop in 2018

CATEGORY DATA

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Strong and steady domestic demand supports luxury goods in 2018

Luxury goods appeal to many consumers

Daimler AG leads luxury goods in 2017

Retailing disruptors work as a blind spot for luxury goods

Retail value growth and government support expected

MARKET INDICATORS

MARKET DATA

SOURCES

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