According to the used car market price in February 2021, released by Enka.com, the largest automobile trading platform in Korea on the 5th, the overall price of SUV models in February was lower than in January. The used car market price released this time is the 2018 popular used car market price of Korean finished car brands such as Hyundai Motor Company, Kia, Renault Samsung and Ssangyong and imported car brands such as Mercedes, BMW and Audi.
The SUV with the largest drop in terms of average price was the Volvo XC60 2nd generation, which fell by an average of 2.35% from January. Since then, Hyundai Palisade (2.33%), Ssangyong G4 Rexton (2.01%), Land Rover Range Rover Evoque (1.75%), Ford Explorer (1.53%), and Jeep Renegade (1.58%) showed high declines.
With the release of new SUVs one after another, it seems that used car prices were affected as each company strengthened promotions for new car sales. At the end of the year and the beginning of the year, competitive SUVs such as the GV70, All-New Rexton, and The New T-lock have been hitting the market one after another, and are receiving great response.
Park Hong-gyu, head of the business division of Enka.com, said, “If you are considering purchasing a large or semi-medium SUV, we recommend that you purchase it in February before entering the peak season of the used car market.”
Unlike SUVs, sedans showed an increase in used car prices, mainly domestic cars. Hyundai Motor Company’s Grandeur IG, whose minimum price fell to 10 million won last month, rose the most to 6.73% (based on the minimum price).
Hyundai Sonata New Rise and Avante AD showed a sharp rise at 4.59% and 5.97%, respectively, based on the maximum price. The Genesis G70, which was launched at the end of last year, also showed an average market price increase of 1.74%.
The market price of Imports fell by an average of 0.53% compared to the previous month. The model with the largest decline in the market price is the Mini Cooper, which declined by an average of 3.02% from the previous month, turning to weakness, allowing purchases in the range of 19 million to 24 million won.
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