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Premium and Luxury Cars in South Korea

  • ID: 5004082
  • Report
  • January 2020
  • Region: South Korea
  • 5 pages
  • Euromonitor International
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Small four-door vehicles and small SUVs are popular luxury car formats in South Korea, especially among younger consumers and families with children. The strong car frame is the most appealing point for consumers who choose small SUVs, and small-sized cars are often preferred in South Korea, as large cars are not well suited to the domestic roads, which are much narrower than in Western countries – as well as the limited parking spaces.

The Premium and Luxury Cars in South Korea report offers a comprehensive guide to the size and shape of the Premium and Luxury Cars market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Premium and Luxury Cars retailing along with the development of consumers’ shopping patterns. Forecasts to 2024 illustrate how the market is set to change

Product coverage: Luxury Goods.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Premium and Luxury Cars market
  • Pinpoint growth sectors and identify factors driving change
  • Understand the competitive environment, the market’s major players and leading brands
  • Use five-year forecasts to assess how the market is predicted to develop.
Note: Product cover images may vary from those shown
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  • Premium and Luxury Cars in South Korea
  • February 2020
List of Contents and Tables
  • Headlines
  • Prospects
  • Premium and luxury cars in South Korea a show highly uniform trend; however, growth in 2019 was hampered
  • Players focus on younger consumers through social media channels and promotional events
  • Premium and luxury cars such as Lexus lose sales as consumers boycott Japanese products
  • Competitive Landscape
  • Mercedes-Benz retains its lead, however negative connotations and its premium rental business may impact value sales in future
  • Tesla Model 3 becomes available as consumers appreciated the affordable price-point of the new model
  • BMW continued to see a drop in their share following a series of engine fires
  • Category Data
  • Table 1 Sales of Premium and Luxury Cars: Value 2014-2019
  • Table 2 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
  • Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
  • Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
  • Table 5 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
  • Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024
  • Executive Summary
  • Growth in luxury goods is driven by an increasing consumer base and rise in local luxury offerings, however duty-free and imitations goods remain a threat in 2019
  • The decrease in Chinese tourists sees players developing offerings for local consumers, as retailers create special VIP areas
  • Luxury cars led the landscape in 2019, as Daimler AG retained its first-place position with Mercedes-Benz, and BMW lost value share
  • Premium outlets pose a threat to department stores, as they offer high-level discounts on several luxury players
  • Growth over the forecast period will be driven by tourism, affordable luxury and a diverse range of new players
  • Market Indicators
  • Table 7 Number of High Net Worth Individuals (HNWI): 2014-2019
  • Market Data
  • Table 8 Sales of Luxury Goods by Category: Value 2014-2019
  • Table 9 Sales of Luxury Goods by Category: % Value Growth 2014-2019
  • Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
  • Table 11 NBO Company Shares of Luxury Goods: % Value 2014-2018
  • Table 12 LBN Brand Shares of Luxury Goods: % Value 2015-2018
  • Table 13 Distribution of Luxury Goods by Format and Category: % Value 2019
  • Table 14 Forecast Sales of Luxury Goods by Category: Value 2019-2024
  • Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024
  • Sources
  • Summary 1 Research Sources
Note: Product cover images may vary from those shown
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