SEOUL, KORA - The share of importcars in Korea’s auto market, which has been rising sharply in recent months, is forecast to doubleup to 27 percent.On October 14, auto and telecom research firm MarketingInsight revealed the results of its large-scale survey it conducted in July.
The survey predictedthat if the current trend continues, the import car market share will likely torise to 27 percent.The share of import cars, which stood at less than 1 percentuntil 2001, rose to 1.3 percent in 2002, first in history.
Thereafter, theirdomestic market share continued on an upward trend, rising to 10 percent in2012 and 14.1 percent in the January-August period of 2014.
The Marketing Insightsurveyed 5,582 consumers who purchased new cars over the past one year andanalyzed their car purchasing patterns.As much as 83.5 percentrepurchased domestic models, while 11 percent shifted toward import cars. Meanwhile, 3.7 percentrepurchased import cars and 1.7 percent shifted toward domestic cars fromimport cars.