Tesla, Hybrids Buck Korea’s Used-Car Price Slide in September
AI-summarised brief · reviewed before publication
In September, South Korea’s used‑car market saw a near‑flat decline, with average prices dropping only 0.82% month‑to‑month. Tesla models led the rebound, with the Model Y Long Range AWD up 4.31% and the Model 3 Long Range AWD up 2.24%, reflecting strong new‑car demand and the rollout of Full Self‑Driving on older vehicles. Hybrid SUVs also gained modestly, while conventional internal‑combustion models fell. The shift toward electric and hybrid vehicles coincides with rising oil prices and a 113.6% jump in first‑half EV sales.
💡 Why It Matters
- · The surge in Tesla and hybrid prices signals a pivot in consumer preference toward low‑emission vehicles, reshaping the domestic used‑car landscape and challenging traditional automakers.