SEOUL, July 6 (Korea Bizwire) — Compared to other age groups, individuals in their 60s experienced the highest growth in the number of new car registrations during the first half of this year, indicating a strong demand for the establishment of new businesses with limited capital.
According to local market tracker CarIsYou, the number of new car registrations for the January to June period of this year was as follows: 180,470 units for those in their 50s, 148,770 units for those in their 40s, 144,793 units for those over 60, 113,702 units for those in their 30s, and 40,095 units for those in their 20s.
While there was an increase in new car registrations across all age groups, individuals in their 60s demonstrated the highest growth rate at 34.2 percent.
Their preference for domestically-made cars primarily revolves around commercial vehicles like Hyundai Motor Co.’s Porter and Kia Corp.’s Bongo.
“Considering that the Mercedes-Benz E-Class ranks first in new imported car registrations among individuals in their 60s, it would be more appropriate to attribute the Porter’s top position in the list of domestic car registrations to the demand for business creation rather than mere transportation needs,” an industry watcher said.
Image Credit: Hyundai Motor Group / photonews@koreabizwire.com
