Imported cars: Value for money at ₩50 million; priorities shift above ₩70 million

[Financial News] Buyers of imported cars apply very different criteria depending on a vehicle’s price, a survey has found. For vehicles under ₩50 million, buyers placed the greatest importance on affordability, including fuel efficiency and running costs, while for vehicles priced at ₩70 million or more, driving performance and technology drove purchase decisions. Criteria also differed clearly according to buyers’ experience with imported cars: first-time buyers prioritized safety, while repeat buyers prioritized performance.
The Korea Automobile Importers & Distributors Association (KAIDA) announced on the 27th the results of its “Exploring the Imported-Car Purchase Journey” survey of 2,200 men and women aged 25 to 59 who had purchased or considered purchasing an imported car within the past three years.
The survey found that among consumers buying vehicles priced under ₩50 million, the largest share cited affordability, including fuel efficiency and running costs (42.8%), as the main factor in their final purchase decision. For vehicles priced from ₩50 million to under ₩70 million, safety and quality (42.5%) emerged as the most important purchase criteria.
By contrast, driving performance and technology became key factors in purchase decisions for vehicles priced at ₩70 million or more. Driving performance and technology were selected by 42.0% of buyers in the ₩70 million to under ₩100 million range, 47.5% in the ₩100 million to under ₩150 million range, and 42.9% in the ₩150 million or more range. The share of buyers who placed importance on brand image and status was also relatively high among those purchasing vehicles priced at ₩70 million or more.
Differences by purchase experience were also clear. At the consideration stage, consumers who had bought imported cars repeatedly considered the brand first (33.8%). First-time buyers, by contrast, prioritized their budget range (41.5%).
In the final purchase decision, 42.7% of repeat buyers cited driving performance and technology as the most important factors. First-time buyers placed relatively greater importance on safety and quality (40.3%), while consumers who had considered buying an imported car but did not ultimately purchase one placed relatively greater importance on affordability (36.3%).
Differences were also found in how consumers sought information. In all three groups, visiting dealerships and taking test drives were the most common experiences, but first-time buyers had a relatively higher share of online, social media and word-of-mouth research (66.5%). Those considering a purchase were more likely than the other groups to compare financing and quotes (56.9%) and to have used artificial intelligence (AI) to search for information.
By vehicle class, 44.4% of buyers of small and compact sedans cited design as their top selection criterion. Driving performance and technology (44.1%) ranked highest for midsize and large sedans, while safety and quality (40.7%) were rated most important for small and compact sport utility vehicles (SUVs). Safety and quality also ranked first for midsize and large SUVs (45.2%).
Yoon Young Jung, vice chairman of the Korea Automobile Importers & Distributors Association, said, “To understand changes in the automotive market, it is important to closely examine consumers’ voices and their actual purchasing experiences.” He added, “We will continue to conduct research and provide information that allow us to examine the market from multiple perspectives through the eyes of consumers, and strive to develop Korea’s mobility market and improve consumer satisfaction.”

[email protected] Kim Dong-ho Reporter