Is It Time to Buy a Used Kia Carnival? Prices Drop Significantly!

It’s a good time to buy a used ‘Carnival’, the representative model of family cars. With increasing supply and a slowdown in demand, prices have dropped by about 2 million KRW over the past three months.

K Car reported on the 12th that both the All-New Carnival and the New Carnival, the flagship used car models of Kia, are seeing continuous price declines.

K Car analyzed average prices for over 740 models released within the last 12 years circulating in the domestic used car market, revealing that the All-New Carnival (2014-2018) decreased from 20.66 million KRW in January to 19.99 million KRW in February, 18.94 million KRW in March, and 18.79 million KRW in April. The successor model, the New Carnival (2018-2020), also saw a decline from 29.92 million KRW in January to 28.79 million KRW in February, 27.47 million KRW in March, and 27.16 million KRW in April. Both primary models have dropped significantly by about 2 million KRW over three months.

The 4th generation Carnival, which was launched in 2020 and currently considered the latest model, dropped from 38.45 million KRW in January to 37.92 million KRW in February. It experienced a slight rebound to 38.20 million KRW in March and 38.33 million KRW in April. However, this is mainly due to the strong sales of higher-priced gasoline models and the introduction of 2023 models. The primary diesel models are still analyzed to be underperforming.

This price drop is attributed to an increase in the supply of Carnivals in the used car market. Current inventories are estimated to have increased by about 30% compared to the previous quarter. The popularity of large SUVs as alternative models and the news of a new Carnival launch in the second half of the year contribute to the slowdown in sales of older models.

Lee Min-goo, Senior Analyst of K Car’s PM1 Team, explained, “Since there are various options available in the market for Carnivals, you can find desirable offers at good prices. For consumers considering buying a Carnival, now is a favorable time.”

Lee Sang-jin daedusj@autodiary.kr