South Korea 2019. Two-wheeler market down moderately for the fourth year in a string

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South Korea motorcycles
Daelim Daystar

South Korea Motorcycles Industry moderately declined in the 2018, keeping the negative trend for the fourth year in a row and ranking only as 31st in the global ranking. Local brands, Daelim and Hyosung keep over 70% of market share while Honda is gaining terrain and BMW is the best brand among premium, despite losing terrain.

 

Market Trend

According to data released by the South Korean Association of Motorcycles Manufacturers and Importers, in the 2019 the domestic market scored the fourth decline in a row with total two-wheeler sales at 99.480 units, down 1.3% from the previous year. 

The market keeps the moderately declining trend with sales volume well below the twenty years ago record. Actually South Korea ranks only 31st in the global ranking, behind the United Kingdom and ahead of Iran.

The expected development of electric scooter to be utilized at least for commercial use within the largest national cities, gives hopes for a revamp of demand and for a little recover in the next years.

 

Best selling Brands

Until a decade ago the domestic market was dominated by the local producers, while in the last years, while locals are losing terrain, importers are progressively growing.

In the 2018 the market leader was Daelim with near 40% of market share, followed by the other local brand, Hyosung with 30% of share. In third place Honda, the fastest growing brand in recent years, ahead of Suzuki, BMW and Yamaha.