The average South Korean driver owns their car for less than seven years before buying a new one – a more frequent pattern of change than drivers in other countries.
Go deeper with GlobalData
According to the Korea Times, citing research from the Korea Insurance Development Institute (KIDI), the average age of cars on Korea’s roads stood at 6.6 years as of April, the lowest among 13 countries surveyed.
On the higher end of the spectrum, drivers in South Africa were found to use their vehicles for an average of 13.5 years, followed by the Netherlands with 13 years, Greece with 12.5 years, and New Zealand with 12.3 years.
Meanwhile, the average US consumer was found to keep their new car for 9.1 years.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
