Encar Dotcom Saves Average Sales Days for 'Five Series Palisades' K Used Car Rebellion
Jun 18, 2025
|
Recently, uncertainties such as tariff policies such as the U.S. have been increasing in the new car market, while the used car market is attracting attention as a new growth engine as the export market continues to grow. In particular, after the Russian-Ukraine war, overseas demand for used cars in Korea has increased, and used car exports continue to grow.
Used car exports rose more than 37% to about 630,000 as of 2024, according to the trade association's trade statistics. Between January and April this year, 296,637 units were exported, showing unprecedented growth. Even if the upward trend in May eases somewhat, the used car export market is expected to grow year-on-year this year.
In this trend, the average sales day of some models reflecting export demand seems to have been shortened at Encar. In fact, English promotional phrases with export in mind such as "Tax 100%," "No Paint," and "2Keys" have also appeared in some model sales such as Palisade and X5.
As a result of analyzing the average sales days of the 22-year-old representative popular models traded through its platform between January and May this year, it was confirmed that the average sales days of domestic large SUVs such as Hyundai The New Palisade and Kia Mohave The Master and BMW's representative models such as BMW 5 Series (G30) and X5 (G05) were shortened.
In particular, the average sales day was the shortest in April, and although it increased slightly in May, it was still trading faster than earlier this year.
Kia Mohave the Master changed from an average of 38.41 days in January to 20.30 days in April and 23.87 days in May, while Hyundai The New Palisade was shortened from 55.40 days in the same period to 36.03 days in April and 28.22 days in May.
Some popular imported cars showed a similar trend. BMW 5 Series (G30) decreased from 57.68 days in January to 23.30 days in April and 24.88 days in May, while X5 (G05) changed from 42.49 days to 19.87 days and 32.31 days in the same period, X6 (G06) changed from 55.04 days to 22.58 days and 32.85 days, and X7 (G07) changed from 57.27 days to 18.98 days and 36.79 days in the same period. The Mercedes-Benz E-Class (W213) was also shortened from 52.74 days on January to 40.33 days on April and 46.03 days on May.
As a result, the flow of the market price increase of some models is also confirmed. The market price of the 22-year-old BMW X5 (G05) xDrive 30d xLine rose 7.11 percent month-on-month to 80.99 million in June, up nearly 5.4 million won. Another popular model, BMW 5 Series (G30) 520i M Sports, rose 4.40 percent to 44.96 million won, and Hyundai The New Palisade 2.2WD Calligraphy, rose 4.61 percent to 41.68 million won, showing a market increase of around 1.9 million won.
Recently, used cars in Korea have shown high preference in the export market due to their abundant options and systematic management history. In particular, the recent three-year internal combustion engine model that utilizes the depreciation rate at the end of the warranty period is popular. While used cars with poor marketability were exported abroad in the past, the biggest trend of change is that not only new cars but also vehicles with excellent marketability of two to three years have been traded recently.
"The noticeable shortening of the average sales day of the model will have several demand factors, including the waiting period for new cars, but it is analyzed that the recent changes in the used car export market have had a significant impact," said an official from Encar. "In particular, used cars of domestic large SUVs, premium imported sedans and SUV models are considered popular in overseas markets."
Editor Song Moon-cheol mc.song@carguy.kr
This article was translated by Naver AI translator.
