If an ordinary office worker wants to buy an imported car that makes a "billion" sound, he needs to ..- Residual Value

‘Property List No. 2’ Prices of Used Electric Vehicles Plummet There’s a degree to which it’s less valuable. It’s too much of a “do” to treat you like a fish you’ve caught. Used Car Value-EV ‘Tuk’ and HEV ‘Suk’

Sorento and Mercedes-Benz EQE SUV [Photo source = Kia, Mercedes-Benz/Editing = Reporter Choi Ki-sung Maekyung]

If an ordinary office worker wants to buy an imported car that makes a “billion” sound, he needs to be “spirited.”

In some cases, I give up buying a house for Foam Saint Foam Co. (living in Foam and dying in Foam). I’m also determined to become a car-por.

How would you feel if you saved all the money you had and bought a new car and it dropped to half price in a year or two?

It’s “Lightning”. It’s because the value of the property has plummeted. In general, the second most expensive “Property List No. 2” car after the house is a movable property that can be cashed in relatively quickly unless it is scrapped.

Of course, unlike apartments, cars lose their value over time. From the moment it is shipped, it becomes ‘used’.

If you get a more comfortable, more fashionable, and better successor or competitive model, your value may plummet.

Instead, there is also a ‘degree’ of depreciation. The time when the value of the new car falls by about half is four to five years after it was released. If it’s half the price in a year or two, it’s too much.

Cascism + Phobia, Used Electric Vehicle Value Tackling

Benz electric car fire that caused electric car phobia [Photo source = Yonhap News]

For consumers who have purchased Mercedes-Benz and Tesla electric vehicles (EVs), it is a reality. This is the result of comparing the market price of used cars in December last year by requesting used car company Enka Dotcom on the 2nd.

The market price of the Mercedes EQE 305+2022, a car that caused ‘electric vehicle phobia’ last year, is 50.42 million won.

The price of the new car was 103 million won. This means that the residual value has fallen by 48.9%, less than half of the new car’s value in two years.

Compared to the market price of 6.3 million won in January last year, 12.66 million won was reduced in less than a year. In other words, the price of Kia Morning has disappeared.

Mercedes-Benz EQE, whose value plunged due to electric car phobia [Photo by = Benz]

In the case of Mercedes-Benz EQE, the value of used cars continued to fall due to steep discounts to escape from the electric car catharsis (demand stagnation).

On top of that, the Mercedes-Benz EQE fire, which turned an apartment building in Incheon into a mess in August last year, and the issue of Chinese-made batteries were combined to cause a plunge in value.

The Mercedes-Benz EQE SUV was also hit by a stray bullet. EQE 350+ 4matic SUV The market price for December 2023 is 77.13 million won. The new car costs 199.9 million won.

The residual value was tallied at 70.1%. Considering that the residual value of imported cars that have been shipped one to two years ago is in the 80% range, the value drop is large.

Tesla Model 3, which sparked controversy over its value [Photo source = Tesla]

Tesla Model Y, the country’s top-selling electric vehicle, also saw its prices plummet. The market price for December 2022 was 53.63 million won, with a residual value of only 55.4% compared to the new car price of 96.65 million won.

The Model 3 Long Range, which caused the Tesla craze in Korea, also had a residual value of only 53.1 percent as of December.

Tesla Model 3 has become notorious for its ‘value’ of raising and lowering prices like rubber bands. Pricing makes it impossible to value used cars properly. If the price is lowered significantly, the value of used cars will also drop significantly.

If the used car market price goes back and forth, demand decreases. Consumers delay their purchases in anticipation of further drops. They turn to other models because they believe that they can lose money due to a drop in value after purchasing.

In the case of Tesla Model Y, demand for new cars increased due to the input of Chinese models, but the value of used cars was hurt. [Photo source = Tesla]

The biggest reason why the value of the Model Y, which is the No. 1 electric vehicle sales in Korea and imported cars, has fluctuated is that the Chinese Model Y, whose price has been more than 10 million won lower than the existing “American” Model Y, has been sold since July 2023.

The fact that it is not easy to distinguish from the US-made Model Y and the price is low has positively affected the sale of new cars, but it has adversely affected the value of used cars. It’s a flash for a buyer who bought an American Model Y at a high price.

The value of Hyundai and Kia electric vehicles has also fallen due to the influence of Cas, but they are ‘relatively’ higher than those of Mercedes-Benz and Tesla electric vehicles.

Based on the 2022 formula, the residual value was 58.03% for Hyundai Motor’s Ioniq 5 Long Range Prestige and 58.13% for Kia EV6 Long Range Earth.

The flow of wholesale prices calculated through CAR STAT, the only one in Korea that calculates residual value and market price using used car wholesale and retail data, was similar.

Comparing the average wholesale price in January and October last year, Mercedes-Benz EQE, which has been released for about 16 months and has a mileage of less than 15,000 kilometers, fell 6.22 million won from January.

Mercedes-Benz EQE SUV, which has been released for about 12 months and has a driving distance of less than 10,000 kilometers, plunged 21.31 million won.

Tesla Model Y, which is 31 months old and has a 45,000km mileage, also fell by 8.9 million won.

Unlike electric cars, which have plunged in market prices, hybrid cars (HEVs) that have regained the top spot of eco-friendly cars have been highly valued.

Honda CR-V Hybrid with high used car value [Photo taken = Choi Ki-sung, reporter for Maekyung.COM]

The residual value of 2022 hybrid cars from Hyundai Motor, Kia, Honda and Toyota stood at around 80% as of December’s market price, according to Encar. The residual value of Mercedes-Benz and Tesla electric vehicles was only around 50%.

The vehicle with the highest residual value is Kia Sorento, which has a severe factory congestion in the new car market. Sorento HEV 1.62WD Gravity 2022 has a residual value of 86.5%.

Hyundai’s Santa Fe HEV 1.64WD calligraphy was 81.8% and Grandeur HEV LeBlanc was 82.0% with high residual value as well.

Toyota Camry HEV 2.5 XLE is 80.2% and Honda CR-V HEV 2.0 Touring 4WD is 81.3%.

Unlike electric car owners, owners of these hybrid cars do not suffer property damage. You can get a good price when you sell it as a used car.

overstating the value of a customer

Benz EQE sold at a huge discount [Photo source = Benz]

The residual value of used cars also affects the sale of new cars. Many consumers value the value of buying a new car later when selling it as a used car. Sales of new cars will also be hit if the value of used cars is lower than competing vehicles.

This is why new car brands should pay attention to maintaining the value of used cars. This is why imported car brands such as BMW, Mercedes, Lexus, and Porsche, as well as domestic car brands such as Hyundai Motor and Kia, have entered the “certified used car market.”

The value of used cars affects not only the popularity of new cars, but also service quality and price. If the popularity of new cars is high, the value of used cars generally increases, but if the service is inconvenient and repair and inspection costs are high, it is an empty payment.

The convenience and cost of service also contributes to the slow decline in the value of used cars of Hyundai Motor and Kia compared to Mercedes-Benz and Tesla.

The value of used cars also affects the sale of new cars. Sorento Hybrid with High Used Car Value [Photo Source = Kia]

Whenever I see a car whose used car value has plummeted beyond “the degree”, I’m worried that the idea of “that’s it after selling” is underlying it.

As the saying goes, “You don’t feed the fish you’ve caught,” it’s like treating existing buyers blindly to the gains in front of you right now.

The sharp drop in used car value caused by steep discounts to increase new car sales is tantamount to taking away even the remaining food.

Imported car brands can offset losses with more expensive repair costs and financial programs than domestic cars, but existing buyers are bound to suffer damage. Loyalty increases only when the property value of existing buyers is protected.

It is proof that existing customers are considered a pushover if they do not give food such as service benefits and take away existing food with excessive discount promotions or value.

Toyota Skill Contest Scene to Improve Service Quality [Photo Source = Toyota]

Will consumers who have been treated like a pushover want to buy another model of the brand next time?

Late, “We loved each other hotly, how does love change?” If you hang on to the crotch of your pants, it’s like waving your hands after leaving the bus.

“I’ve been waiting in line for people who like me other than you” is not just for people.

If an ordinary office worker wants to buy an imported car that makes a “billion” sound, he needs to ..

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