K Car has analyzed the average prices of like-new used cars for major popular models launched in 2023 with less than 10,000 km driven. The results indicate that many models have maintained stability with a slight upward trend compared to the previous month as of the 16th.
Up until early this year, prices for like-new used cars have been high, matching those of new cars due to prolonged delivery delays from semiconductor supply shortages. Recently, as new vehicle supply has become relatively smooth, the prices of like-new used cars are expected to settle into a normal price range while maintaining a slight upward trend.
Among domestic vehicles, the new 4th generation Carnival (3.0%), K8 Hybrid (2.0%), and G80 (RG3) Electrified (1.7%) are anticipated to see price increases in May due to the special demand of Family Month. SUVs such as the Palisade, Sorento, Santa Fe, and Seltos are expected to maintain a strong stability with a price change of 0% from last month. Conversely, commercial vehicles like the Porter2 (-1.5%) and Staria (-1.6%) are expected to see price declines.
For imported cars, the BMW 5 Series and the Mercedes-Benz E-Class are projected to rise by 1.5% and 1.2%, respectively. Particularly, due to the Red Sea logistical disruption causing delays in the supply of the new E-Class, the recent surge in prices for the BMW 5 Series is expected to stabilize as the backlog issues regarding the E-Class are gradually resolved.
Lim Min-ku, the Chief Analyst of K Car PM Team and Adjunct Professor of Future Mobility Design at Gyeonggi University of Science and Technology, stated, “Except for some hybrid models, the new supply of cars is becoming smoother, and the backlog issues for imported vehicles caused by the Red Sea logistics crisis are gradually improving, indicating that the supply issue for new vehicles is getting better.” He added, “As the previously overheated prices of like-new used cars are now entering a stabilization phase, consumers who have been hesitant to purchase during this period should consider making a purchase.”
Lee Sang-jin daedusj@autodiary.kr