1 in 2 Consumers Want a New Car This Year, but Price and Interest Rate Burdens Hold Them Back

Most Anticipated New Models: Genesis GV80 Hybrid and GV90 Electric Vehicle

This year, nearly half of consumers who want to purchase a new car are hesitating due to rising new car prices and the burden of interest rates.

On January 15, according to a survey conducted by K Car, a direct used car platform company, through Embrain, targeting 500 adult men and women nationwide regarding preferences for new cars scheduled for release in 2026 and perceptions of car purchases, 35% of respondents said they "prefer to buy a new car."

However, 26.4% responded that they are "hesitating to purchase due to the high price burden," and 23.4% said they are "actively considering a used car instead of a new car." Nearly half of consumers (49.8%) are delaying their purchase due to new car prices and the current interest rate environment.

In terms of preferred fuel types, hybrid vehicles ranked highest at 52.6%, followed by internal combustion engines at 31.4%, and electric vehicles at 16.0%. Regarding the perception of transitioning to eco-friendly vehicles, the highest proportion of respondents (47.4%) said a phased transition via hybrids is necessary, while only 17.2% said a full-scale shift centered on electric vehicles is required.

Additionally, 20.2% said they are withholding judgment due to issues such as charging infrastructure, subsidies, and price stability, indicating that preference for hybrids remains high for now.

By vehicle type, SUVs and RVs ranked first at 66.8%, followed by sedans at 26.2%.

When purchasing a new car, the most important factor was the purchase price at 34.0%. Next was maintenance cost at 28.8%, showing that many consumers perceive both the initial and long-term costs as burdensome. Design (15.8%), brand (11.2%), and the latest technology (10.0%) were relatively less important factors.

The most preferred price range was in the 30 million won range (35.4%), followed by the 20 million won range (21.0%) and the 40 million won range (19.6%).

Among the new models scheduled for release this year, Genesis and Hyundai brands stood out as the most anticipated. In the hybrid category, the Genesis GV80 Hybrid garnered the highest expectations, while in the electric vehicle category, the Genesis GV90 ranked first. For internal combustion engine vehicles, the partially modified Hyundai Santa Fe model received the most selections.

Jung In-kook, CEO of K Car, said, "Interest in new cars remains high, but it appears that more consumers are hesitating to purchase due to price and interest rate burdens," adding, "K Car will continue to introduce a variety of vehicles and services so that consumers comparing new and used cars can make more rational choices."