Most years of the forecast period are expected to see a dramatic slowing of growth compared with the pandemic years. With travelling difficult or even impossible at times during the pandemic, consumers targeted their spending elsewhere, including towards buying new premium and luxury cars.
More premium and luxury car brands are set to launch electric cars in the second half of 2022, including Lexus, BMW, Mercedes-Benz and Audi. They are promising more features and longer range, which will help to maintain growth in the segment in the forecast period.
BMW is expected to show stronger growth in 2022 than its competitor Mercedes-Benz. Mercedes-Benz still leads premium and luxury cars by far in terms of value sales, but BMW is set to see faster growth.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Cars industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Cars industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and TeslaSee All of Our Definitions
This report originates from Passport, our Luxury Cars research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!