Encar has conducted a survey titled ‘What Will Be Your Next Car in 2024’ to mark the new year, revealing that consumers prefer ‘SUV/RV’ as the car type and ‘gasoline’ as the fuel type for their next vehicle this year.
From January 16 to 23, Encar surveyed 2,090 individuals to understand the current ownership status of vehicles and consumers’ sales and purchase plans for this year.
Among current vehicle owners, 65.3% reported plans to sell their vehicles this year. The most common types of vehicles they own are ‘sedans (48.4%)’ and ‘SUV/RV (37.1%)’, with the fuel types primarily being ‘gasoline (51.2%)’ and ‘diesel (37.0%)’, indicating that over 80% own internal combustion engine vehicles.
When asked about their preferred selling method, ‘online apps/sites for used car transactions (67.2%)’ emerged as the top choice. This suggests that more consumers are considering utilizing these popular services to dispose of their vehicles as used car platforms gain traction.
When asked if they had plans to purchase a car this year, 79.9% answered affirmatively. While most owners currently drive sedans, the most desired vehicle type for purchase is ‘SUV/RV (47.1%)’, affirming the continued popularity of SUVs. Following SUVs/RVs, the next most desired vehicle types were ‘sedans (39.0%)’, ‘compact cars (3.9%)’, ‘hatchbacks/wagons (3.5%)’, ‘coupe/convertibles (4.1%)’, and ‘pickup trucks (2.3%)’.
The reasons cited for planning a vehicle purchase include ‘lifestyle changes (32.7%)’, such as commuting needs and changes in family composition, and ‘changing vehicle size (27.6%)’. This was followed by ‘change of heart regarding the current vehicle (18.5%)’ and ‘frequent breakdowns of the current vehicle (11.8%)’.
In terms of preferred fuel types for purchasing, ‘gasoline (47.9%)’ received the most votes. The order following that included ‘hybrid (25.8%)’, ‘diesel (18.8%)’, ‘electric (6.8%)’, and ‘LPG (1.0%)’.
In the same survey conducted in 2022, the most preferred fuel types were ‘hybrid (31.7%)’ and ‘electric (28.2%)’. However, this year shows a noticeable rise in the preference for gasoline vehicles. While hybrid vehicles continue to show consistent popularity, electric cars have seen a decline in preference compared to two years ago, largely due to insufficient charging infrastructure and various environmental factors.
When asked about methods for purchasing vehicles, an overwhelming majority, ‘searching and purchasing through used car online/apps (72.8%)’, was indicated. This reveals that many consumers prefer to verify and compare various brands, models, years, and mileage on reliable used car platforms before transacting.
As the largest used car platform, with 1.2 million registrations annually, Encar offers various consumer-centered services for buying and selling used cars, including ‘Encar Home Service’, ‘Encar Trust (MEET-Go)’, and ‘Encar Comparison Quotes’.
An official from Encar stated, “To get a sense of consumer car sales and purchase plans for this year as we enter the new year, we conducted this survey. The continued popularity of SUV/RVs and the resurgence of gasoline as the preferred fuel type, along with the decline in interest in electric cars, are interesting insights we have gathered.”
Lee Sang-jin daedusj@autodiary.kr