Last Year, Ssangyong Motor's 'Tivoli' Captured Women's Hearts

Last Year, Most New Registrations by Female Car Owners... Imported Cars Lead with Mercedes-Benz E-Class

[Asia Economy Reporter Suyeon Woo] Last year, the most popular car choice among female drivers was the Tivoli, a compact sport utility vehicle (SUV) from SsangYong Motor. In contrast, in the imported car market, the Mercedes-Benz E-Class mid-size sedan gained popularity, successfully capturing the hearts of female consumers.

According to data compiled by vehicle data agency Kaizyu based on statistics from the Ministry of Land, Infrastructure and Transport on the 17th, the car with the highest number of registrations under female ownership for new personal vehicles last year was the SsangYong Tivoli, recording 19,376 units.

Following closely was Hyundai’s compact sedan Avante with 18,386 units, Kia’s compact car Morning with 17,843 units, Hyundai’s large sedan Grandeur with 16,145 units, and Hyundai’s mid-size sedan Sonata with 14,924 units. Additionally, Hyundai’s compact SUV Kona, Kia’s compact sedan K3, and Korea GM’s compact car Spark appeared in the top 10 female new car rankings, despite being less favored by male drivers.

In the domestic car market, smaller vehicles such as compact and subcompact cars were popular, but in the imported car market, mid-size sedan models captured the hearts of female consumers. The Mercedes-Benz E-Class was the most chosen with 8,220 units, followed by BMW’s mid-size sedan 5 Series with 3,147 units, and Mercedes-Benz’s subcompact sedan C-Class with 3,030 units.

As of the end of last year, the cumulative number of vehicles registered under female drivers’ names in South Korea approached 5.2 million. The number of female owner-drivers has steadily increased since surpassing 5 million for the first time at the end of 2018. Based on cumulative registrations, female owners account for 25%, or one quarter, of the total, but when looking only at recent new car registrations, the share has risen sharply to 29.5% (333,502 units).

By age group for new car registrations, female owners in their 40s and 50s accounted for 27.2% and 27.8% respectively, showing the highest purchasing power, while consumers in their 20s and 30s made up 30.8% of the market, emerging as a new target consumer segment.

In line with this trend, various models targeting female consumers are lined up for release this year. The small SUV Trailblazer from Korea GM, launched in January, plans to captivate female consumers with its stylish exterior design, diverse color options, and practical interior, competing with popular small SUVs like Kia’s Seltos and SsangYong’s Tivoli.

Hyundai’s compact sedan Avante, which ranked second in female new car registrations last year, will release a full-change model for the first time in five years in the first half of this year. The 7th generation Avante will expand its lineup beyond the existing gasoline, LPG, and diesel models to include hybrid and high-performance N models, aiming to increase market share.