Ryoo Won-ha, executive vice president of Hyundai Motor Co., holds a press briefing on the company’s used car sales program at a company facility in Yangsan, 301 kilometers southeast of Seoul, on Oct. 19, 2023. (Image courtesy of Yonhap)
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co. said Thursday it plans to launch a program to sell refurbished used cars produced by the company and its luxury brand Genesis, with a goal to sell 5,000 certified secondhand models within the year.
Hyundai said it will begin sales of used models next Tuesday under the program named “Hyundai Certified.” The company said it has established two dedicated “commercialization centers” to collect and improve the quality of secondhand models in Yangsan, 301 kilometers southeast of Seoul, and Yongin, south of the capital.
Hyundai said it plans to establish such centers in other regions as well after reviewing consumer demand.
Spanning some 32,000 square meters, the center is responsible for carrying out detailed diagnoses and inspections of used Hyundai and Genesis models to improve their quality. Hyundai models will undergo the testing of 272 parts and Genesis units 287 parts.
The company said it aims to establish a healthy ecosystem for the used car market, which has been criticized for selling low-quality products. Hyundai said it will treat customers of used models on the same level as those of newer models.
This photo provided by Hyundai Motor Co. on Oct. 19, 2023, shows used cars produced by the company that have been refurbished for resale. (Image courtesy of Yonhap)
Hyundai was registered as a used car operator in January of last year and has set up related infrastructure, spanning from those involving the sourcing of used units to refurbishment, logistics and sales.
According to Hyundai, the number of used car transactions in South Korea totaled 2.38 million last year. Hyundai and Genesis models accounted for 38 percent of secondhand deals last year.
(Yonhap)
