Compact cars and subcompact vehicles with reasonable price points are gaining immense popularity in the used car market.
K Car has analyzed the sales period of over 740 models released within the last 12 years from February to April. They revealed on the 23rd that the Casper was sold in an average of just 14 days, making it the fastest-selling vehicle. The analysis was based on models that sold over 200 units during this period.
All five positions from first to fifth are occupied by compact and subcompact vehicles. The analysis suggests that their attractive price and low maintenance costs contribute to their economic viability, alongside their practicality. The Casper, which ranks first with an average sales period of 14 days, is Hyundai’s first mini-SUV that enjoys great popularity in both new and used car markets, particularly among younger consumers and those preferring smaller cars.
Chevrolet’s New Spark, which achieved second place with a sales duration of 15 days, is a vehicle that strikes a balance between economy and practicality, making it a popular choice in the urban driving and parking segment. The Next Spark, which shares second place, is the successor to the New Spark and maintains high popularity with improved features and design.
The only subcompact sedan in the lineup, the Hyundai Avante (CN7), ranked fourth with an average sales duration of 17 days. As a representative model of subcompact sedans, the Avante CN7 is popular across various age groups due to its excellent performance and reasonable pricing.
Ranked fifth, the New Morning retains steady popularity due to its outstanding economy and practicality. Especially favored by first-time car buyers, the New Morning managed an average sales period of 18 days to secure its fifth position.
K Car has also shared tips for online open running using their ‘My Car Purchase Home Service’ for those wanting to buy these competitive and popular models. If the desired model isn’t found on the K Car website or app, users can check current vehicles being prepared for sale under the ‘Ready for Sale Vehicles’ menu and apply for arrival notifications. The ‘Home Service Time Deal’ menu allows users to check newly registered vehicles and offers free delivery benefits.
Jo Eun-hyung, an analyst at K Car PM Team, stated, “Compact and subcompact cars are attractive models not only for their economic benefits but also their practical utility in daily life.” She added, “Though recent releases of vehicles equipped with high specs and the latest technologies continue, the demand for cost-effective compact cars is likely to persist.”
K Car plans to leverage its 24-year experience in the used car market to establish systematic and accurate price analysis and forecasting systems for purchasing and selling vehicles. As competition intensifies in the used car market, they aim to lead the industry by sharing market price information.
Contact: Lee Sang-jin daedusj@autodiary.kr