Used-Car Price Declines Narrow as Chuseok and Fall Peak Season Approach...Popular Models Rise
TECHWORLD ·
✦ AI Summary
Encar released used-car price trends for September 2026.
The analysis covered popular 2023 models and used accident-free vehicles with 60,000 km of mileage as the benchmark.
The average price of major representative models in September fell 0.82% from the previous month, while domestic cars fell 0.95% and imported cars fell 0.65%.
Encar released used-car price trends for September 2026. The released prices are based on analysis of Encar big data.
The analysis covered popular 2023 models from brands including Hyundai Motor, Kia, Renault Korea Motors, KG Mobility, Mercedes-Benz, BMW, and Audi. The comparison benchmark was a vehicle with no accident history and 60,000 km of mileage.
Encar described September as a time after the summer vacation off-season and before the Chuseok holiday and fall outings, when demand for vehicle purchases increases. It also said September is when the used-car market regains momentum. During this period, price fluctuations are not large, and trading in popular models tends to be active.
According to Encar, the average price of major representative models in September fell 0.82% from the previous month. The overall average price trend came in as a mild softness of less than 1%. The average price of domestic cars fell 0.95% from the previous month, while the average price of imported cars fell 0.65%.
Last August, the overall average price fell 1.43%, while the price decline rate for domestic cars was 1.77% and that for imported cars was 0.99%. Compared with those figures, the overall pace of price declines has recently narrowed.
Amid this trend, interest in some popular models in the new-car market has recently increased, and as a result, there have also been cases where used-car prices rose. In particular, the Tesla Model Y Long Range AWD rose 4.31% from the previous month, marking the largest increase among the models surveyed.
The Tesla Model Y Long Range AWD rose for a second straight month after also gaining 3.05% in last August. The Model 3 Long Range AWD also rose 2.24% this month, recording a second consecutive monthly price increase.
The Model Y ranked first in total domestic sales in Korea last August, including domestic and imported vehicles, and its popularity in the new-car market continues. As a result, strong interest was analyzed to have affected demand in the used-car market as well.
Hybrid models continued to rise in both domestic and imported categories. The Kia The New Sorento 4th Generation HEV 1.6 2WD Gravity rose 0.30% from the previous month, recording a second straight monthly price increase. The Hyundai Santa Fe HEV 1.6 2WD Calligraphy rose 1.50% from the previous month, turning upward after a decline last month.
Imported hybrids also showed an upward trend. The Lexus ES300h 7th Generation Executive rose 0.25%, extending its gains to a second straight month.
By contrast, among domestic cars overall, price declines were centered on SUV and RV models. The Chevrolet Trax Crossover 1.2 LT Plus fell 3.44% from the previous month, recording the largest decline among domestic cars. The Kia Carnival 4th Generation 9-Seater Prestige fell 1.78%, and the KG Mobility Torres 1.5 2WD T7 fell 1.38%.
Sedans showed relatively small price fluctuations even when they moved up or down. The Genesis G80 2.5 Turbo AWD rose 0.11%, while the Kia K5 3rd Generation 2.0 Noblesse fell 0.03%.
In the imported-car market, both SUVs and sedans showed different price directions depending on the model. Imported SUV prices were mixed by model, with the Audi Q5 45 TFSI Quattro Premium rising 3.85% from the previous month. By contrast, the Mercedes-Benz GLE450 4MATIC fell 3.53%, the BMW X5 xDrive 30d xLine fell 2.98%, and the Volvo XC60 B5 Ultimate Bright fell 2.93%. In imported sedan prices, the BMW 520i M Sport edged up 0.29%, while the Mercedes-Benz E350 4MATIC Exclusive fell 3.33%.
Encar explained that September is a period when demand for used-car purchases rises again after the summer off-season ends. It also said the pace of price declines has narrowed from the previous month, and gains have appeared centered on some popular models.
Encar said that if demand during the fall peak season continues, prices may rise going forward. It also recommended that prospective buyers compare listings, focusing on models whose current prices have fallen or remained flat.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407205
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Source: TECHWORLD
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