Used Carnival, 2 Million Won Drop in 3 Months... Buy Now If You Want One

K Car Analyzes Average Market Prices of Over 740 Models

The used price of Kia's large recreational vehicle (RV) Carnival has dropped by about 2 million KRW over the past three months. This is due to a large supply of used Carnival cars in the market and a decrease in demand ahead of the release of the new Carnival model in the second half of this year. Some analyses suggest that now is an opportune time to buy a used Carnival.

Directly operated used car platform company K Car announced on the 12th that the market prices of used Carnival models, including the Kia All New Carnival (2014?2018 models) and The New Carnival (2018?2020 models), have been continuously declining. Prices have fallen by about 2 million KRW over the past three months.

K Car analyzed the average market prices of approximately 740 models released within the last 12 years circulating in the domestic used car market. The used price of the All New Carnival (2014?2018 models) dropped steadily from 20.66 million KRW in January this year to 19.99 million KRW in February, 18.94 million KRW in March, and 18.79 million KRW in April.

The New Carnival (2018?2020 models), which was released as the successor model, also fell from 29.92 million KRW in January to 28.79 million KRW in February, 27.47 million KRW in March, and 27.16 million KRW in April. Both main models depreciated sharply by about 2 million KRW over three months.

Carnival Used Car
Photo by K Car

The latest model, the 4th generation Carnival released in 2020, dropped from 38.45 million KRW in January to 37.92 million KRW in February. It then slightly rebounded to 38.20 million KRW in March and 38.33 million KRW in April. A K Car official analyzed, "The rebound is due to the relative strength of gasoline models with higher prices and the introduction of the 2023 model year," adding, "The main diesel models continued to show weakness."

This price decline is attributed to an increase in Carnival supply in the used car market. K Car identified that as of the first quarter of this year, the inventory of used Carnival cars in the market increased by about 30% compared to the previous quarter. The popularity of 9-seater large sport utility vehicles (SUVs) as alternative models to the Carnival, combined with news of the new Carnival release in the second half of this year, has caused sales of older models to slow down.

Lee Mingu, Senior Analyst of K Car's PM1 Team, explained, "Since there are various Carnival units available in the market with different options (convenience features), consumers can purchase vehicles with their desired conditions at good prices," adding, "The current time is advantageous for consumers considering purchasing a Carnival."

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