Key Market Indicators
Korea's vehicle registration is expected to reach two million units by 2026. This is a 0.9% increase from the 1.8 million vehicles registered in 2021. Since 2010, the Korean market has remained stable. The country's vehicle production is expected to decrease by 0.2%, from 3.9 million units in 2021 to 3.9 million units by 2026. Since 2002, the country's output has decreased by 1.7% year on year. In 2021, it was the seventh largest producer in the world, overtaken by Mexico which produced 3.9 million units. The United States, Japan and India respectively took the 2nd, 3rd and 4th places in the ranking.