Eight out of 10 imported car buyers in South Korea end up buying a vehicle they considered from the outset, according to a new survey. Rather than exploring unfamiliar brands or models, buyers tend to compare and verify cars they already knew about before closing a deal.
A total of 80.9% of the vehicles ultimately purchased were models included on buyers' initial shortlists, the Korea Automobile Importers & Distributors Association said on the 16th in its survey on imported car purchase journeys. The survey covered 2,200 consumers aged 25 to 59 who had bought or considered buying an imported car within the past three years. The findings showed a pattern in which buyers weigh their budget and other conditions, narrow the field to two or three brands and models they already knew, and then search for information on those candidates instead of seeking out new ones.
The association divided the purchase process into six stages: awareness, model research using artificial intelligence, research through online sources and acquaintances, showroom visits and test drives, comparison of financing and quotes, and the purchase contract and delivery. Excluding awareness and purchase, consumers went through an average of 2.06 of the four remaining stages. Showroom visits and test drives drew the highest participation at 78.1%. The association said that even as digital research has become commonplace, inspecting and driving an actual vehicle remains important.
Among information channels other than AI, YouTube was the most used at 63.1%, and it also scored highest for active use at 79.8%. YouTube users mainly consulted reviews and test-drive clips at 78.7% and long-term usage accounts from actual owners at 53.1%. Research using AI was reported by 19.5% of respondents, who used it mainly to compare vehicle performance and rival models.
The survey also found that buyers tend to raise their budget or move up to a higher trim level during the process. Some 26.0% said they spent more than they had planned, while 44.0% said they switched to a higher class or trim, or to a different brand or model.
A total of 80.6% said they were satisfied with the overall purchase process. Buyers cited safety, quality and reliability; design and exterior styling; value for money; and driving performance and ride comfort as reasons for choosing an imported car over a domestic one.