SEOUL, Oct. 20 (Korea Bizwire) – The Korea Insurance Development Institute (KIDI) announced on Thursday that it will provide a ‘Car History’ information service for used cars being shipped from South Korea to the Middle East. The new service, a result of collaboration with CARSEER, the first car accident history service company in the Middle East, will [...]
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 [...]
SEOUL, June 5 (Korea Bizwire) — A majority of South Korean drivers prefer Hyundai Motor Co.’s Avante compact car when searching for a used vehicle priced at around 10 million won (US$7,640), data showed Sunday. KB Cha Cha Cha, a financial platform for secondhand cars, analyzed viewership data from May of last year to April [...]
SEOUL, Oct. 19 (Korea Bizwire) — “Used but nearly new cars” are drawing attention due to lengthy delivery delays for new cars resulting from the prolonged disruption in the supply of chips for automobiles. According to used car platform Encar, the share of “nearly new cars” among overall sales of used cars has been on [...]
SEOUL, March 7 (Korea Bizwire) — As the shortage of semiconductors for automobiles is delaying shipment of new cars, secondhand markets, particularly for electric vehicles (EVs), are gaining popularity. EVs are selling immediately after they are put up on the secondhand market. Prices for newer models of EVs on the second-hand market tend to be [...]
INCHEON, Jan. 27 (Korea Bizwire) — Libya was ranked as the biggest import country for South Korean used cars last year, data showed Wednesday. 433,024 used cars were exported via the Port of Incheon last year, of which 26 percent or 112,747 cars were shipped to Libya, according to the Incheon Main Customs. The Middle [...]
SEOUL, Oct. 5 (Korea Bizwire) — With the production and sales of new cars stagnating due to a global chip shortage, an increasing number of foreign consumers are turning their eyes towards Korean used cars, with the nation’s used car exports and trade volume both showing robust growth. According to the Korea Customs Service and [...]
SEOUL, Oct. 28 (Korea Bizwire) — Internet searches for “new and used cars” have been on a steady decline over the past three years, while the number of “rental and lease cars” searches has been on the rise, a recent report has showed. According to U.S. digital marketing solutions firm SEMrush, the search volume for [...]
SEOUL, May 7 (Korea Bizwire) — South Korea saw a significant rise in used car exports in the first quarter of this year, with Libya becoming the largest importer of South Korean used cars. South Korea exported 107,321 used cars in the first quarter, which was a 42.9 percent jump from the same period last [...]
SEOUL, Sept. 27 (Korea Bizwire) — The market for secondhand cars in South Korea has expanded rapidly, doubling in just 10 years. Experts say the adoption of car diagnostic services and auction systems that have allowed consumers to have more faith in secondhand vehicles have contributed to the recent growth of the industry. Moreover, the [...]