The leading car manufacturer in South Korea was local brand Kia Motors, followed by Hyundai Motor Company in 2022. Vehicles manufactured by Kia Motors accounted for 39.4 percent of automobile sales in South Korea that year. For decades, the car industry has grown exponentially and has also been an indicator of the country’s economic growth.
Leading passenger car models
Based on the car sales volume in 2019, the top 10 registered car models in 2019 were all domestic car brands. The most popular passenger car models were Hyundai’s Grandeur, Sonata, and Porter. The most popular car model among female drivers was Tivoli by SsangYong, which was thought to be suitable for women with children because of the large space inside the car. Although South Korea is the home of Hyundai and Kia, imported cars can also be seen very commonly. In 2019, the proportion of imported cars registered as passenger cars reached 16 percent, compared to only three percent in 2005. The most popular imported car brand was Mercedes-Benz, followed by BMW and Lexus respectively.
Changing perception of car ownership
Over the past few years, passenger car sales in the country have remained relatively stagnant, standing at around 1.3 million in 2019. In South Korea, the view of passenger car ownership has changed greatly in modern society. According to a survey on car ownership, only 17 percent of respondents stated that car ownership is mandatory. In particular, only eight percent of respondents in their twenties said car ownership was a must. Younger generations are accustomed to a shared culture, and this phenomenon is evident in mobility services. The use of car sharing services such as SoCar and Greencar has more than tripled in recent years.
