SEOUL, Oct. 24 (Korea Bizwire) — Hyundai Motor Co. on Tuesday began selling refurbished used cars produced by the company and its luxury brand Genesis, with a goal of selling 5,000 certified secondhand models within the year. The company launched its “Hyundai Certified” and “Genesis Certified” initiatives under which customers can purchase secondhand models that [...]
SEOUL, July 13 (Korea Bizwire) — In response to growing consumer concerns about the possible sale of flood-damaged secondhand cars during this summer’s rainy season, South Korea’s used car platforms have launched compensation programs to alleviate consumer anxiety. K Car announced on Wednesday that it will launch of a compensation program designed to address consumer [...]
SEOUL, Dec. 29 (Korea Bizwire) — Users of secondhand car transaction apps are largely satisfied with the diversity of cars on sale but are less satisfied with the purchasing experience, a consumer rights agency said Wednesday. The Korea Consumer Agency conducted a survey of 1,340 consumers who had bought used cars on five major online [...]
SEOUL, Oct. 4 (Korea Bizwire) — Eco-friendly vehicles such as hybrid cars and electric vehicles (EVs) are enjoying rising popularity not only in the South Korean passenger vehicle market, but also in the used car market this year, data showed Monday. According to Transport Ministry data analyzed by the Carisyou Data Lab, the number of [...]
SEOUL, April 7 (Korea Bizwire) — Six out of 10 South Korean consumers prefer buying a used car as their first car, a logistics unit of Hyundai Motor Group said Wednesday. According to a survey conducted by Hyundai Glovis Co. of 1,148 visitors to the company’s online secondhand car transaction platform ‘Auto Bell,’ 64 percent [...]
SEOUL, Dec. 27 (Korea Bizwire) — Without waiting for the government’s final decision, South Korean carmakers have declared that they will launch used car businesses starting from next month. Hyundai Motor Co. and affiliate Kia Corp. are set to launch full-scale preparations for a launch into the used car market from next month, according to [...]
SEOUL, Oct. 26 (Korea Bizwire) — In the South Korean used car market, the share of transactions taking place directly between sellers and buyers turned out to be higher than that of transactions through dealers, indicating that consumer distrust of used car dealers is significant, a local industry association said Monday. The number of used [...]
SEOUL, July 1 (Korea Bizwire) — Online car sales and sales of eco-friendly cars have been bright spots in the used car market this year. K Car, a major secondhand car seller, picked three keywords to describe used car sales between January and June: e-commerce, seniors, and green. The company reported that online car sales [...]
SEOUL, Dec. 26 (Korea Bizwire) — Consumers who are buying the first car of their life are increasingly turning to used cars. According to an online survey of 314 men and women conducted by K-Car, a South Korean used car dealer, 67.5 percent of the respondents chose used car as their first car when asked [...]
SEOUL, Aug. 24 (Korea Bizwire) — Used car dealer SK Encar released a report on August 23 that showed that the Kia Ray and Mercedes Benz E-Class were the fastest-selling cars in their respective categories. The company combed through its website data from the past two months to compare the amount time from when a [...]