In the process of purchasing imported cars in South Korea, consumers tend to make decisions based on familiar brands after conducting information searches and test drives. YouTube emerged as the most utilized platform for information gathering.
On October 15, the Korea Automobile Importers and Distributors Association (KAIDA) released the results of a survey conducted over the past three years involving 2,200 consumers aged 25 to 59.
The survey divided the purchasing journey into six stages, from awareness to contract and delivery, revealing that consumers typically go through an average of 2.06 exploratory stages before making a purchase decision.
From the outset, consumers considered their budget, required vehicle class, and model, selecting 2 to 3 candidates from brands and models they were already familiar with. There was a notable tendency to validate existing candidates rather than seek new vehicles, with 80.9% of the final purchase candidates included in the initial selection.
The most frequently experienced stage in the purchasing process was visiting showrooms and test driving (78.1%). This was followed by online, social, and peer-based exploration (63%), financial and quote comparisons (45.1%), and AI exploration (19.5%).
YouTube was the leading channel for information gathering, utilized by 63.1% of respondents. Users primarily referenced reviews and test drives (78.7%) and feedback from actual vehicle owners and long-term users (53.1%).
Many consumers also reported increasing their purchase budget compared to their initial plans. About 26% of respondents indicated they purchased or considered vehicles at a higher price than originally planned. Additionally, 44% switched to higher vehicle classes, trims, or different brands/models. The primary reason for these changes was the desire to buy a better specification vehicle for long-term use, cited by 46% of respondents.
The main reasons for choosing imported cars included safety, quality, and reliability (37.2%), followed by design and appearance (33.9%), value for money (29%), and driving performance and ride comfort (28.2%). Overall satisfaction with the purchasing journey was reported at 80.6%.
Jung Yoon-young, vice president of KAIDA, stated, "This survey allowed us to specifically identify characteristics and information-seeking methods of consumers throughout their purchasing journey. We aim to enhance our understanding of the market and consumers through ongoing research and analysis, contributing to the development of the domestic automotive market."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.