EGT Consulting

Vehicle Market Executive Summary

EGT Consulting needs a concise summary and the most compelling parts of your analysis of your motor vehicle. 

South Korea has a population of 48,860,500 million people, who live mostly in Seoul,  and GDP per capita at $31,700. Despite the financial crisis in 1980's, South Korea managed to get out of it. South Korea is one of the Asian Tigers, who experienced the high industrialized growth rate in 1960 and 1990. Currently, South Korea is one of highly developed economies in Asia. I firmly believe that South Korea is a great place to do business and most people are affordable to buy motor scooters, sedan, but not as much towards limousines market.

The motor scooter highly appeals to people who have the affordable means of transportation to get around places with ease and comfort, especially in Changwon, the 8th populous city in South Korea. Changwon is a industrial city where it is mostly green and electric motor scooters are accessible for the middle class. 300,000 electric motor scooters were sold per year since 1962. It is also sold in places like Spain, France, Germany, England, and Italy.

The Sedan is also affordable for middle-upper class men because the price varies from time to time. People have the income to buy a Sedan. However, the limousine appeals to some middle-class but mostly upper class since only 1~2% of South Koreans like CEO's or ambassadors, or business owners who can afford to buy the vehicle themselves.

To conclude, I believe that motor electric scooters, and Sedan are the most viable option to sell in South Korea and not so much in limousines.