Features
19 Mar 24

Hyundai Motor Company Launches Domestic Certified Used Car Business

Hyundai Motor Company marked a significant remarketing milestone with the launch of its certified used car business in Korea, underlining its commitment to playing an active role in the domestic used car market. Wonha Yoo, Vice President of Hyundai Motors Asia Region, emphasized the company's dedication to customer satisfaction, stating, “Made by us, Cared by us,” encapsulating their philosophy towards the certified used car business. Unique news, as OEM-initiated second hand networks are no as common as in, e.g., Europe or the US.

Targets

Hyundai Motor Company aims to bridge the gap between new and used car markets, ensuring that used car customers receive the same level of care and attention as new car buyers. This initiative comes after almost 2 years of preparation, including the establishment of dedicated infrastructure for the second-hand network.

In light of the increasing demand for used cars in South Korea, Hyundai Motor Company sets an ambitious sales target of 5,000 units for 2023, with plans for further expansion in the coming years.

Certified

The introduction of ‘Manufacturer Certified Pre-Owned’ vehicles by Hyundai Motor Company sets a new standard in the market, offering consumers reliable used vehicles backed by manufacturer certification. These certified used cars undergo thorough quality inspections, consisting of 272 items for Hyundai vehicles and 287 items for Genesis, setting the highest standards in Korea.

In addition to stringent quality checks, Hyundai Motor Company wants to provide transparency in the used car transaction process. Through innovative platforms like ‘Hi-LAB’ and ‘AI Pricing Engine’, consumers gain access to vehicle information and transparent pricing.

Targets

To support the certified used car business, Hyundai Motor Company has established state-of-the-art commercialization centers dedicated to ensuring the highest quality standards. These centers, equipped with cutting-edge facilities, aim to commercialize 15,000 used cars per year, contributing to the establishment of a certified used car hub base.

Hyundai Motor Company’s online sales channels offer a seamless buying experience, allowing customers to complete the entire purchasing process from quotation to delivery online. Moreover, the introduction of the ‘Sell My Car’ service enables customers to sell their existing vehicles, regardless of brand, further streamlining the buying process.

Picture Credit: Hyundai Korea Newsroom

Authored by: Yves Helven