The Tiguan 2.0 TDI has the lowest depreciation rate of 37.64 percent among all imported cars in South Korea. (image: Wikimedia)
SEOUL, Oct. 21 (Korea Bizwire) – The Tiguan manufactured by Volkswagen reportedly has the highest used-car value in the auto market. A boom in its cumulative sales from January to September in 2014 might positively result in a value increase of second-hand Tiguans.
According to SK Encar, Korea’s leading used car trading company, the Tiguan 2.0 TDI has the lowest depreciation rate of 37.64 percent among all imported cars in South Korea, followed by BMW X6 30d (38.35%) and Audi Q5 2.0 TDI Quattro Dynamic (38.87%). The lower the depreciation rate, the higher the used-vehicle value. Since the Tiguan produced in 2011 were sold at the price of 43.3 million won, or about US$ 4,849.10, its pre-owned price now costs approximately 27 million won.
This year, 6,255 units of the vehicle made by Volkswagen were sold, ranking No. 1. “Its popularity leads to the high demand for its used cars. High demands for X6 and Q5 models and low supplies of them make their prices higher,” an official of the company said.
When it comes to vehicle types, used-car values of SUVs are higher than any other types of cars. Its depreciation rate is 44.94 percent, much lower than midsize cars (51.45%) and large-size cars (57.63%). Contrary to SUVs, used-vehicle values of Luxury sedans are quite low. The price of the Lexus LS460L declined to 62.45 percent of the total price, which means that the value halved only within three years.
“Unlike in the past when German sedans drew huge popularity, a lot of drivers prefer SUVs recently, especially SUVs made in Germany,” an official added.
By Veronica Huh (veronicah@koreabizwire.com)
