South Korea Outlook. Basic market sentiment is positive

South Korea Automotive Hyundai-RN30_Concept-2016

South Korea Automotive Outlook basic sentiment is still positive thanks to the benefit of Importers invasion and to the reaction of local car makers, finally expanding the local offer. Crisis with North Korea is already hitting economy.

South Korea automotive industry is a leading manufacturing industry since the 1990s when started a tremendous growth becoming a key driver of national economy. Actually, it represents over 10% of GDP, employment, production and exports.

The sector is export-oriented accounting for 68.3% of the total manufacturing production in Korea with a value exceeding the U$80 billion representing the 13.7% of total national export.

With almost 4.5 million vehicles, South Kora is the fifth producer in the World.

Domestic market was blocked until the 2013 when high duties on import were limiting entrance at less than 10% of total sales. International agreements, in particular with EU,  opened the market to import and the cut of duties have reduced the price of imported models with a progressive growth of their share.

In the recent years the domestic market grew up the 1.8 million units, achieving in the 2015 the best ranking ever, as 10th world-wide, before to lose one step in the 2016.

Future outlook would be moderately positive considering the positive impact of fast growing sales for imported vehicles (with Mercedes and BMW the most requested) and the introduction of new models, offered by local brands as never before, aiming to fight against the importers new line ups.

However, recent escalatuon in the international relations with the North Korea and China could in the best case moderate the GDP expansion and reduce internal consumption, hittng he sector.

Buy Now

Today you can have easy access to professional analysis of this market purchasing a  Short Research (110 page, 140 charts, 10 tables) today reporting market trend, facts and insights for the period 2005-2016 with sales detail for All Brands and All Models in the period 2014-2016. It includes dedicated sections to car passengers, light commercial vehicles, premium brands, segmentation had been developed to help you to read the market from any perspective.

To know more you can purchase the Full Research (170 pages, 210 charts, 18 tables) which add to the short one, forecast for the period up to the 2022. Here again there are details regarding cars, light commercials, premium brands and segments.

If you need just row material, we can provide data in excel.

(166)

In the spotlight

Brazil Outlook 2017. Recession is not over

Brazil Automotive Industry outlook in the 2017 is not yet positive albeit the prolonged crisis. Indeed economic perspective are still negative and the sector has not yet bottomed out. Market recovery from 2018