Encar: October Is a Good Time to Buy Family, Outdoor SUVs and RVs as Popular Models See Price Declines
TECHWORLD ·
✦ AI Summary
Encar released its used-car price data for October 2026.
The average price for all major models in October fell 0.72% from the previous month, while the average prices of domestic and imported cars also fell 0.76% and 0.66%, respectively.
Major SUVs and RVs such as the Sportage, Palisade and Carnival fell, while domestic sedans saw relatively limited price swings.
Encar released its used-car price data for October 2026. Encar said October is the fall peak season, when demand for used cars rises after the Chuseok holiday, but that overall price fluctuations are usually limited in October. It also said some popular family and outdoor-oriented SUV and RV models often tend to rise in October, but that this year the used-car market broadly remained slightly weak. In particular, prices for major SUVs and RVs such as the Sportage, Palisade and Carnival fell, while some domestic sedans were relatively stable, resulting in mixed price trends by vehicle type this October.
Encar said October is a good time to buy family and outdoor SUVs and RVs. The price data it released were based on Encar big data analysis and covered used 2023-model popular vehicles from domestic automakers such as Hyundai Motor, Kia, Renault Korea Motors and KG Mobility, as well as imported brands such as Mercedes-Benz, BMW and Audi. The analysis criteria were vehicles with 60,000 km of mileage and no accident history.
The average price for all major models in October fell 0.72% from the previous month. The average price of domestic cars fell 0.76% month on month, while the average price of imported cars fell 0.66%.
The overall average price fell 0.82% in September, so October's decline was slightly smaller than in September. As a result, the overall average price remained in slight decline, staying below 1% for a second consecutive month.
In the domestic car segment, price declines in SUVs and RVs stood out. SUVs and RVs are popular family and outdoor vehicles in the fall.
Encar said Sportage, Palisade and Carnival posted declines of more than 1%, making this month's prices worth watching for consumers considering a purchase. The Kia Sportage 5th-generation 2.0 2WD Noblesse fell 1.64% from the previous month, marking the steepest decline among domestic cars. The Hyundai The New Palisade 2.2 2WD Calligraphy fell 1.58%, and the Kia Carnival 4th-generation 9-seater Prestige fell 1.34%.
Among SUVs, a range of models showed declines. The Genesis GV80 2.5T AWD fell 0.97% month on month, while the GV70 2.5T AWD fell 0.81%. The Renault Korea The New QM6 2.0 LPe RE Signature 2WD also fell 1.20%.
Some hybrid SUVs also turned downward after recent gains, according to the analysis. The Kia The New Sorento 4th-generation HEV 1.6 2WD Gravity had risen for two consecutive months in August and September, but fell 1.40% this month. The Hyundai Santa Fe HEV 1.6 2WD Calligraphy also rose 1.50% last month before falling 0.17% in October.
By contrast, domestic sedans showed relatively limited price swings compared with SUVs, centered on some models. The Hyundai Grandeur 2.5 gasoline 2WD Calligraphy fell 0.06% month on month, the Avante 1.6 Inspiration fell 0.31%, and the Genesis G80 2.5 turbo AWD fell 0.56%.
In the imported car market, price declines were seen mainly in some SUVs. In particular, the Audi Q5 45 TFSI quattro Premium rose 3.85% in September, but fell 3.37% this month, recording the steepest decline among imported cars.
Other SUV models also weakened. The Mini Cooper Countryman Classic 2nd generation fell 2.67% from the previous month, and the Mercedes-Benz GLE450 4MATIC fell 2.22%. The Volvo XC60 B5 Ultimate Bright also fell 1.55%.
By contrast, declines in imported sedans were generally not large. Among imported sedans that fell, the Mercedes-Benz C300 4MATIC AMG Line declined 2.11% from the previous month. The Mercedes-Benz E350 4MATIC Exclusive fell 0.01%, staying roughly flat, and the BMW 320i M Sport also fell 0.18%, showing a near-flat trend.
Some imported sedans extended their upward trend. The Tesla Model 3 Long Range AWD rose 1.51%, posting gains for a third consecutive month, and the Lexus ES300h 7th-generation Executive also rose 0.45%, extending its three-month winning streak.
Encar noted that October is seasonally the fall peak period for active used-car trading, but said this year's used-car market overall has remained slightly weak. It added that in this trend, prices for some popular models, including SUVs and RVs, are falling, and that prices for the Sportage, Palisade and Carnival are also declining. Encar advised consumers considering these models to check prices for the vehicles they are interested in and compare a range of listings.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=408372
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Source: TECHWORLD
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