In December last year, South Korea’s new car registrations increased by 10.0 percent month on month and went down by 8.2 percent year on year to 27,223 units, according to the data released by the Korea Automobile Importers and Distributors Association (KAIDA).
Meanwhile, in 2023, South Korean new car registrations declined by 4.4 percent year on year to 271,034 units.