Kia Enters the Certified Used Car Market, Covering Electric Vehicles as Well
Seoul (Yonhap Infomax) – Kia Motors is set to venture into the certified used car business, expanding its offerings to include both internal combustion engine vehicles and electric vehicles. At the Kia Certified Used Car Media Day, held at the Sebitseom Floating Island Convention in Seocho-gu on the 25th, the company announced its plans to buy and sell its own brand of used cars, starting from the 1st of next month.
Hyuk-ho Kwon, the vice president and head of Kia’s domestic business department, stated that by providing a reliable used car buying service to Kia’s new car buyers, the company aims to establish a virtuous cycle that connects customers interested in both new and used cars. Kwon emphasized that this move will enhance the brand’s credibility and increase customer satisfaction, ultimately leading to an increase in sales.
The domestic used car market sees an annual transaction volume of approximately 30 trillion won, with last year’s number of transactions reaching 2.38 million units, surpassing the number of registered new cars by 1.4 times. Kia is positioning itself as the first domestic car brand to supply high-quality “manufacturer certified used cars” to the market, encompassing not only regular vehicles but also electric ones.
To ensure quality and transparency, Kia has introduced a comprehensive “finished vehicle quality control system” that covers multiple sectors including body parts, moving parts, interior and exterior, chassis, electronics, and powertrain. Additionally, the company is supplying certified used electric vehicles (EVs) to the market, making sure to disclose battery performance and status information to potential buyers. Through these efforts, Kia aims to make second-hand EVs more accessible and contribute to the advancement of electric mobility.
While the new electric car market in South Korea has experienced significant growth, accounting for 10% of the domestic finished car market, the used electric car market lags behind, representing only 0.7% of all used car transactions. The lack of objective performance evaluation and standardized price calculation for used electric vehicles has led to the majority of transactions occurring between individuals, reaching 64% in 2021.
In response, Kia has developed a unique quality inspection and certification system specifically for electric vehicles. The company has introduced a used electric vehicle quality rating system, consisting of five levels. The assessment considers factors such as battery remaining life and stability, which significantly impact the vehicle’s residual value, as the battery accounts for about half the price of the vehicle.
To accurately evaluate EV performance, Kia utilizes its “Smart EV Solution” diagnostic device, which allows for precise assessment of key electric vehicle systems including the high voltage battery management system, high voltage charging system, high voltage distribution system, and conversion system power. Based on this evaluation, Kia only sells vehicles rated level 3 or higher, ensuring that customers receive high-performing electric vehicles.
A Kia official emphasized the importance of objective residual values for used electric vehicles in accelerating the era of electric mobility. By establishing clear standards, Kia aims to revive transactions and create a favorable environment for selling and purchasing used electric vehicles.
Kia has also pioneered a direct online transaction channel within the used car sector. Through this platform, customers can easily search, compare, and proceed with all aspects of buying or selling their car, including quotes, contracts, payments, delivery, and vehicle collection. The direct online channel operates exclusively online, relying on data evaluation rather than face-to-face interactions. Kia has developed its own used car pricing engine based on comprehensive big data analysis.
Furthermore, Kia offers a 7-day satisfaction guarantee, allowing customers to request a refund if they are not satisfied with the vehicle they purchased, even after driving it. The company is committed to providing a seamless and reliable user experience.
Looking ahead, Kia plans to establish a “Kia Certified Pre-Owned Car Experience Area (CPO Experience Park)” in the metropolitan area by 2025. This area will serve as an omni-channel platform, incorporating cutting-edge services such as a digital vehicle search service and a large exhibition area showcasing up to 700 high-quality certified pre-owned cars and various vehicle accessories.
Kim Ji-min, Executive Director of Kia’s Domestic Business Strategy Office, emphasized the company’s commitment to providing used car services that align with customers’ lifestyles. Kia seeks to establish trust and credibility in the system, further solidifying its position as a provider of sustainable mobility solutions in the domestic market.
In conclusion, Kia’s entry into the certified used car market, including electric vehicles, signifies a significant step for the company. By offering high-quality certified used cars and implementing transparent evaluation systems, Kia aims to enhance customer satisfaction and contribute to the growth of the electric mobility industry.
Only vehicles that have passed the 200-item certification inspection are sold.
(Seoul = Yonhap Infomax) Reporter Lee Yun-gu = Kia is entering the certified used car business, which covers everything from internal combustion engine vehicles to electric vehicles. A list of EV6 certified used cars is shown[출처:기아]
Kia held the Kia Certified Used Car Media Day at the Sebitseom Floating Island Convention in Seocho-gu on the 25th and announced that it would start buying and selling its own brand of used cars starting from the 1st of next month.
Hyuk-ho Kwon, vice president and head of Kia’s domestic business department, said, “By providing Kia new car buyers with a stable used car buying service, we are building a virtuous cycling system that connects new car and used car customers , and provides all the mobility services customers want from new to used cars, thereby increasing brand reliability and “We will increase royalties,” he said.
The annual transaction volume of the domestic used car market is about 30 trillion won, and the number of transactions last year reached 2.38 million units, which is about 1.4 times the number of registered new cars.
Kia is the first domestic car brand to supply high quality ‘manufacturer certified used cars’ to the market, including not only regular vehicles but also electric vehicles.
The sales targets were limited to accident free vehicles within 5 years and 100,000 km of new vehicle delivery.
In particular, Kia introduced a ‘finished vehicle quality control system’ that covers six main sectors, including body parts and moving parts, interior and exterior, chassis, electronics, and power train. We supply certified used EV (electric vehicle) cars to the market and transparently disclose the battery performance and status information of used electric vehicles.
Through this, the plan is to lower the threshold for access to second-hand electric vehicles and contribute to moving the age of electric mobility forward.
The new electric car market has grown to account for 10% of the domestic finished car market from last year, but the used electric car market accounts for just 0.7% of all used car transactions. hand
In addition, due to the lack of objective performance evaluation and price calculation standards for used electric vehicles, the share of transactions between individuals reached 64% by 2021.
Kia has established a quality inspection and certification system unique to electric vehicles and introduces a used electric vehicle quality rating system that includes a total of five levels.
In the case of electric vehicles, the remaining life and stability evaluation of the battery, which accounts for about half the price of the vehicle, are decisive in calculating the residual value.
With its ‘Smart EV Solution (diagnostic-specific device)’, Kia accurately diagnoses the four systems of electric vehicles: ▲ high voltage battery management system ▲ high voltage charging system ▲ high voltage distribution system ▲ conversion system power, etc. ■ calculate the current performance and condition level of the battery.
In addition, the range available on a single charge is measured and the actual performance compared to the mileage on a new car charge is rated, and then given a final EV quality rating that combines a the battery and the mileage rating on. one charge.
After such a precise EV performance evaluation, Kia only sells to customers vehicles judged to be level 3 or higher, which corresponds to the lowest performance standard.
A Kia official said, “Consumers buy new cars considering the used car price they can receive when selling a used car,” and added, “If the era of electric mobility is to accelerate, it is essential to revive transactions by forming objective residual values. for used electric vehicles.” .
Certified second hand Moha, Sorento, Sportage cars on display[출처:기아]
Kia was the first to introduce a direct online transaction channel in the used car sector.
Through the direct online channel, you can search and compare products as well as the whole process of ‘buying your car’ such as quote, contract, payment, and delivery, and the whole process of ‘selling your car’ including check the market price of your car, detailed quote, and vehicle collection.
Only accident-free Kia brand vehicles eligible for purchase are less than 5 years old and have a mileage of less than 10 km.
It is 100% non-face-to-face and evaluates vehicles based on data only, and the purchase price is calculated by also reflecting vehicle photos taken by the customer and vehicle information held by Kia. Kia has developed its own used car pricing engine based on big data.
In addition, even if a customer has received and driven the vehicle they ordered, if they are not satisfied with it, they can refund it within 7 days.
Kia is building a ‘Kia Certified Pre-Owned Car Experience Area (CPO Experience Park)’ in the metropolitan area with the aim of opening in 2025.
It is being built as an omni channel that combines cutting-edge services such as a digital vehicle search service as well as a large exhibition area where up to 700 high-quality certified pre-owned cars and various vehicle accessories can be glimpsed.
Kim Ji-min, Executive Director of Kia’s Domestic Business Strategy Office, said, “To become a provider of sustainable mobility solutions in the domestic market, it is essential to provide used car services that match customers’ lifestyles. “We will will further increase the general trust in the system,” he stressed.
Inspect the underside of the vehicle during the final delivery inspection[출처:기아]
yglee2@yna.co.kr
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This article was published at 11:00 on the Infomax financial information terminal.
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