Danggeun Used Cars Sees 120% Surge in Electric Vehicle Transactions

Danggeun Used Cars Analyzes Changes in Electric Vehicle Transactions

On May 20, Danggeun announced that, according to an analysis of transaction data from March to April this year on its used car platform, Danggeun Used Cars, the number of electric vehicle transactions increased by 120.4% compared to the same period last year. This figure is more than double the overall transaction growth rate of Danggeun Used Cars during the same period, which stood at 55.8%.

The most notable change was in the 'transaction speed.' During this period, the average time to complete a transaction for electric vehicles was 16.7 days, shortened by 8.1 days from 24.8 days in the same period last year. In comparison, the average transaction completion time for internal combustion engine vehicles remained nearly the same, moving from 14.9 days to 14.6 days, highlighting the significant change in electric vehicle transactions.

Last year, electric vehicles took an average of 9.9 days longer to sell than internal combustion engine vehicles during the same period, but this year, the gap narrowed to just 2.1 days. Analysts attribute this trend to the growing demand for electric vehicles, which have lower maintenance costs amid high fuel prices, making used electric vehicles as popular and quickly traded as internal combustion engine vehicles.

By vehicle model, Tesla Model Y ranked first in transaction volume, followed by Hyundai Ioniq 5, Tesla Model 3, and Kia EV6. Transaction prices were also spread across a wide range. While the average transaction price for the top-selling Model Y was 42.16 million won, the eighth-ranked Twizy was around 1.72 million won, showing a difference of nearly 24 times.

In response to this trend, Danggeun Used Cars has recently introduced a new feature that allows sellers to input battery condition information when listing electric vehicles, further enhancing its services to cater to the characteristics of electric vehicle transactions. A representative from Danggeun Used Cars said, "Based on the data, electric vehicles are no longer just niche listings but are becoming a mainstream category in the used car market," adding, "We plan to continue upgrading our service so that users can trade used electric vehicles even more conveniently."

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