The No.1 Residual Value of Domestic Multipurpose Vehicles is the 'Kia Carnival'

[Asia Economy Reporter Changhwan Lee] Recently, Hyundai Motor's Staria, which surpassed 10,000 pre-orders on the first day, and representative models from Japanese brands, known as minivan leaders, have been released one after another, leading to a forecast that the annual sales volume of the domestic minivan market will exceed 100,000 units.

Accordingly, as the popularity of multipurpose vehicles with space utilization and convenience increases, attention is also focused on residual value, which greatly influences consumer psychology from the initial purchase decision to used car sales.

Encar.com announced on the 29th that based on big data analysis of the residual values of five domestic multipurpose vehicle models, the residual value of the Kia 4th generation Carnival was found to be the highest.

The residual value survey targets were the 2020 model year accident-free Kia 4th generation Carnival, Hyundai The New Grand Starex, Renault Samsung Master (3 models), and the 2019 model year accident-free Toyota Sienna and Honda Odyssey (2 models).

The top domestic minivan model was the Kia 4th generation Carnival, with the popular 9-seater diesel model recording a high residual value of 101.51%. The 4th generation Carnival, which ranked third in cumulative sales from January to April this year following the Porter and Grandeur, is regarded as the key player leading the revival of the domestic minivan market, which had briefly stalled.

It continues to be popular as a family car among the 30s and 40s age group, and the ability to purchase a nearly new vehicle without a waiting period is analyzed to have contributed to its high residual value. Additionally, for popular models released less than a year ago, even considering option prices, high demand sometimes causes used car prices to exceed new car prices.

The Renault Samsung Master van model has a residual value of 90.00%, and Hyundai Staria's predecessor model, the Starex, recently released, has a residual value of 87.97%. Both models are reasonably priced and are suitable not only for commercial purchases but also for camper van conversions, which seems to influence their residual values by attracting buyers who enjoy car camping and outdoor activities.

Among imported cars, the 2019 Honda Odyssey model showed a residual value of 72.09%, and the 2019 Toyota Sienna model showed 66.12%. Imported minivans tend to have relatively high new car prices and appear to be affected by boycott movements.

An Encar.com official said, "With the prolonged COVID-19 pandemic and increased outdoor activities, interest in used multipurpose vehicles as family transportation and leisure vehicles is rising again," adding, "Minivan models, which are often purchased as family cars, are popular listings on the non-face-to-face purchase service 'Encar Home Service,' which allows customers to test drive for seven days before making a purchase decision, enabling families to fully experience the vehicle before buying."

Meanwhile, Encar.com is the largest automobile trading platform in Korea, with about one million used cars registered annually and over 750,000 daily visitors online and via mobile.

This content was produced with the assistance of AI translation services.