Premium and Luxury Cars in South Korea

January 2021
USD 990
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Overview:

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.

The Luxury Cars in South Korea report includes:

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

This report answers:

  • What is the market size of Luxury Cars in South Korea?
  • Which are the leading brands in Luxury Cars in South Korea?
  • How are products distributed in Luxury Cars in South Korea?
  • How important is tourism in evaluating demand for Luxury Cars in South Korea?
  • How is the rise of e-commerce changing the retail and competitive landscape?
  • How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
  • Where is future growth expected to be most dynamic?

Premium and Luxury Cars in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Car sales temporarily boosted by tax cut, but face roadblock as measure ends
Second wave of COVID-19 forces carmakers to review strategies
Leading brands maintain sales via contactless consultation, Japanese cars struggle due to boycott

RECOVERY AND OPPORTUNITIES

Sales recovery subject to pandemic and related controls
Electric car push to continue as South Korean consumers’ interest grows
Younger consumers to shift from short-term car sharing to long-term subscriptions

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2015-2020 Table 2 Sales of Premium and Luxury Cars: % Value Growth 2015-2020 Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019 Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019 Table 5 Forecast Sales of Premium and Luxury Cars: Value 2020-2025 Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2015-2020 Table 9 Sales of Luxury Goods by Category: % Value Growth 2015-2020 Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020 Table 11 NBO Company Shares of Luxury Goods: % Value 2015-2019 Table 12 LBN Brand Shares of Luxury Goods: % Value 2016-2019 Table 13 Distribution of Luxury Goods by Format and Category: % Value 2020 Table 14 Forecast Sales of Luxury Goods by Category: Value 2020-2025 Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources
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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 report originates from Passport, our Luxury Cars research and analysis database.

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