Heydealer "August Off-Season, Used Car Price Increase Stops"
[Asia Economy Reporter Changhwan Lee] The used car market has entered its low season in August, and the rate of price increase has significantly slowed down.
On the 7th, Heydealer announced that an analysis of its transactions revealed that the used car prices, which had been continuously rising due to delays in new car deliveries caused by semiconductor shortages, have now turned to a downward trend.
The vehicle with the largest price drop was the Chevrolet ‘All New Malibu,’ which fell by -4.1%. Following that, the ‘The Next Spark’ dropped by -2.7%, the Genesis G80 by -2.1%, and both the Audi A6 (C7) and G4 Rexton by -1.9%, respectively.
Among imported cars that had benefited from the semiconductor supply instability, only the Mercedes-Benz E-Class (W213) showed a slight price increase.
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Park Jinwoo, CEO of Heydealer, stated, “Used car prices, which had steadily risen due to semiconductor shortages, seem to have slowed down due to decreased demand during the summer vacation season. It is highly likely that many vehicles will continue to show a downward trend until demand recovers before Chuseok.”
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