Domestic average falls 0.5%, imports down 0.9%

Kia only automaker to post gain, up 0.1%

K3 up 4.6%, K5 up 4.5%; hybrids also strong

Domestic diesel down 0.8%; BYD EVs fall 1.3%

K Car's September used-car market price data [Provided by K Car]
K Car's September used-car market price data [Provided by K Car]

Used-car prices for both domestic and imported vehicles fell across the board last month, but Kia bucked the trend with a modest gain. Price increases spread across multiple model lines — sedans, the Carnival and Seltos, hybrids and electric vehicles — lifting the brand's overall average.

Used-car platform K Car analyzed average September market prices for major vehicles sold in South Korea, releasing the findings Friday. Domestic models fell 0.5% from the previous month and imports dropped 0.9%, but Kia was the only domestic automaker to post a gain, with its average used-car price edging up 0.1%.

Sedans led the gains. The All New K3 averaged 11.32 million won ($8,350) in September, up 4.6% from a month earlier, while the New K5 3rd Generation rose 4.5% to 24.69 million won. The New Carnival 4th Generation and the New Seltos each climbed 1.1%.

Hybrid models also performed strongly. The K5 3rd Generation Hybrid rose 2.6% from the previous month, while the New K5 3rd Generation Hybrid and the K8 Hybrid each gained 1.8%. The All New Sportage Hybrid edged up 0.9% and the Sorento 4th Generation Hybrid added 0.4%. K Car attributed the hybrid strength to sustained demand from buyers who prioritize fuel efficiency and practicality.

Diesel models, by contrast, continued to weaken. The average used-car price for domestic diesel vehicles fell 0.8% from the prior month. The New Mohave posted the steepest drop at 6.6%, followed by the New i40 at 6.2% and the QM6 at 5.3%. The Santa Fe TM and the New Carnival also declined, falling 2.9% and 2.6%, respectively.

In the electric vehicle segment, results varied by brand. Kia's average EV price rose 0.3% from the previous month, while Hyundai Motor and Tesla were flat. Among Kia models, the EV4 gained 2.9%, the EV5 rose 2.6%, the EV9 climbed 1.9% and the EV3 added 1.7%.

BYD moved in the opposite direction. The Atto 3 fell 3.8% over the month and the Dolphin dropped 2.2%, pulling the brand's average price down 1.3%.

Among imported vehicles, the Mercedes-Benz C-Class stood out. The C-Class W206 averaged 40.5 million won in September, up 5.4% from the previous month. The BMW X5 fell 2.1%, the Mercedes-Benz E-Class dropped 1.4% and the Mercedes-Benz GLE declined 1.3%.

"The September used-car market was broadly stable, with solid momentum centered on Kia's popular models and hybrids," said Jo Eun-hyeong, an analyst on the PM team at KG Mobility's platform unit. "Since price trends differ by fuel type and generation even within the same model line, buyers should compare both the price and running costs of their candidate models against their budget and driving needs."

Meanwhile, Kia's sales momentum has carried over into the new-car market. The automaker sold 281,984 vehicles at home and abroad in September, up 5.1% from the same month a year earlier. For the third quarter of this year, Kia sold 846,764 units — its best third-quarter performance since the company's founding in 1962.


kwater@heraldcorp.com