Industry data revealed that South Koreans in their 20s and 30s bought fewer new cars last year than in the past decade. New car registrations for those in their 20s totaled 61,962, making up 5.6% of all new car registrations in 2025, a significant decline from previous years. Similarly, individuals in their 30s registered 209,749 new cars, accounting for 19% of the total, marking a decrease over the past ten years.
The trend indicates a shift towards older age groups purchasing more cars, with people in their 60s registering 204,294 new cars (18.5% of the total) and those in their 70s registering 50,861 units (4.6%). This increase among older consumers contrasts with the declining trend among younger age groups.
Experts attribute the decline in car purchases among younger consumers to rising costs and the popularity of car rental services offered through mobile apps. According to Kim Pil-soo, an automotive professor at Daelim University, the younger generation is less inclined to own cars due to the prevalence of online car-sharing services. On the other hand, older individuals are increasingly entering the job market and purchasing vehicles for mobility needs.
Meanwhile, Hyundai Motor Group is set to unveil a significant investment plan in North Jeolla Province, focusing on artificial intelligence (AI), hydrogen, and robotics. This initiative aims to drive growth in these technological sectors.
