K Car's new name 'KG Mobility Platform', used car prices for August announced... average prices decline

*This content was translated by AI.

According to an analysis of the average used car prices for August released by KG Mobility Platform (K Car), the average prices for domestic and imported vehicles fell by 1.6% and 1.7%, respectively, compared to the previous month. However, popular models in the new-car class with high customer demand recorded rising or stable trends.

Popular vehicle types centered on SUVs and RVs maintained their market prices after undergoing price adjustments, entering a price range with high cost-performance. By model, the average price of 'The All New CelloToss' rose by 2.9% compared to the previous month, 'The New Sorento 4th Gen HYBE Ride' increased by 1.3%, and 'The New Kia Ray EV' rose by 0.2%. Meanwhile, 'The New Grandeur (GN7)', 'The New Avante (CN7)', and 'The All New Santa Fe HYBE Ride' showed stable trends. 'The All New Palisade HYBE Ride' and 'Sonata D-Edge HYBE Ride' declined by only 0.1% and 0.4%, respectively.

In contrast, mid-size sedans showed a downward trend as supply of vehicles such as the previous Grandeur and K7 increased due to deliveries of the new Grandeur. 'Grandeur IG' fell by 4.1% compared to the previous month, 'The New Grandeur' dropped by 3.9%, while 'All New K7' and 'K7 Premiere' declined by 3.7% and 3.3%, respectively.

Average prices for electric vehicles fell by 0.4% compared to the previous month, maintaining a level similar to July's decline of 0.3%. Specifically, prices for electric commercial vehicles such as 'ST1' (6.2%), 'The New Bongo III Truck EV Cargo' (5.5%), and 'Porter 2 Electric' (0.9%) rose. Additionally, imported electric vehicles like 'Model 3 Highland' (2.6%) and 'Model 3' (2.0%) also showed upward trends.

Meanwhile, KG Mobility Platform is the new name adopted in April this year after KG Group acquired K Car. KG Group purchased a 72.19% stake in K Car from private equity firm Han & Company for approximately 550 billion won, with the total transaction size including K Car Capital reaching about 750 billion won. KG Group has thus completed a mobility value chain spanning from automobile production to distribution and finance. K Car now boasts an extensive network with 48 direct stores and an online distribution system. The market is closely watching what moves K Car will make in the export sector in the future.

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*This content was translated by AI.