South Korea’s younger generations are increasingly forgoing car ownership, with new data showing that new vehicle registrations among people in their 20s and 30s have dropped to their lowest levels in a decade. (Image courtesy of Yonhap)
SEOUL, July 9 (Korea Bizwire) – South Korea’s younger generations are increasingly forgoing car ownership, with new data showing that new vehicle registrations among people in their 20s and 30s have dropped to their lowest levels in a decade. In contrast, older consumers — particularly those in their 60s and 70s — are driving a growing share of the new car market.
According to data released Tuesday by the automotive market research firm CarIsYou Data Institute, individuals in their 20s accounted for just 5.7% of all new personal passenger car registrations in the first half of 2025 — down from 8.8% in 2016.
Registrations among 30-somethings fell to 19.5%, a sharp decline from 25.9% a decade earlier and the first time the age group has dipped below the 20% threshold.
Meanwhile, new car registrations among consumers in their 60s rose to 18.0% of the total, nearly double the 9.6% figure recorded in 2016. Those in their 70s also saw a steady rise, accounting for 4.5% of new registrations — up from 2.8% nine years ago.
Experts point to a generational shift in mobility values as a key driver of the trend. Younger consumers increasingly view cars as non-essential, opting instead for ride-sharing services and subscription-based mobility platforms, particularly as new car prices continue to climb.
“The drop in new car purchases among people in their 20s and 30s reflects not just economic pressures but also a cultural shift,” said Kim Pil-soo, a professor of automotive engineering at Daelim University. “Many in these age groups no longer see the need to own a vehicle in a world where shared mobility is readily accessible.”
In contrast, older consumers — including many still engaged in the workforce — continue to view cars as vital to maintaining independence and economic activity, particularly amid South Korea’s rapidly aging population.
Despite official campaigns promoting voluntary license returns among senior drivers, many in their 60s and 70s remain active drivers and car buyers.
The diverging trends underscore broader societal changes in how different generations approach ownership, mobility, and lifestyle — with potential long-term implications for the auto industry’s marketing and product strategies.
Ashley Song (ashley@koreabizwire.com)
