Table of Content

Premium and Luxury Cars in South Korea
Euromonitor International
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