Entering the Used Car Off-Season in December: "Price Decline"

[Asia Economy Reporter Changhwan Lee] Encar.com announced on the 11th that the average prices of domestic and imported used cars in December fell by 0.59% compared to the previous month after analyzing the major used car prices for December.

December is known as the off-season for the used car market because the number of listings increases as more people sell their cars before the new year, and there are many discount promotions from automakers, which reduces the demand for used cars.

The average price of domestic cars fell by 0.62% compared to the previous month, with sedan models showing an average decline of 1%, which was more pronounced than the decline in SUV (Sports Utility Vehicle) models.

The model with the largest drop was the Hyundai Avante AD, whose average price fell by 1.54%. The Hyundai Sonata New Rise dropped by 1.32%, the Kia All New K7 by 1.14%, and the Genesis G80 by 1.29% on average.

While the overall average price of domestic cars declined, the models that saw price increases were all SUVs. The Ssangyong Tivoli Armor rose by 0.62% for the second consecutive month, and the G4 Rexton rebounded by 0.19%. The Kia The New Sorento saw a slight increase of 0.60% in average price. On the other hand, the Renault Samsung QM6 and Hyundai Kona fell by around 1%.

The average price of imported cars fell by 0.56% compared to the previous month. Among them, the Chevrolet All New Malibu's average price dropped significantly by 2.35%, and based on the minimum price, it fell by 3.13%, making it possible to purchase in the 12 million KRW range.

The Jeep Renegade fell by 1.51%, the Volkswagen Tiguan 2nd generation by 1.68%, the Mercedes-Benz E-Class W213 by 1.20%, and the BMW 3 Series (F30) by 1.21% on average.

Meanwhile, Audi was the only German brand to see a price increase. The sedan models New A6 and A4 (B9), which had fallen in price last month, rebounded by 2.42% and 0.18% respectively. The hybrid models Lexus ES300h 7th generation and Toyota Camry (XV70) also saw slight average price increases of 0.37% and 0.27% respectively.

An Encar.com official said, "December is a period when many listings come out due to model year changes, and prices tend to fall, making it an appropriate time to purchase a desired used car." He added, "On the other hand, price defense for domestic SUVs is relatively higher than for sedans, so consumers who own SUVs and are considering selling their vehicles before the year ends might want to consider the year-end period."

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