26 November 2013

Global Used Car Marketplace, leads to “Korean Wave” in auto industry


Access to over 186 countries to Korean used car web, Sales increased dramatically.

“I’d like to trade this car (Veloster) to my country, Mongolia. 
How much will be the estimated total charge for it?” (Mongolia, ID: gunbileg)
“I’m interested in your bus. Please give me the best price for this vehicle.” (Russia, ID:tooktook)

Those are the few examples of buyer’s inquiries from Autowini.com, which belongs to SK C&C. CO. LTD. Encar, the No.1 used Car Company in Korea. The number of Autowini buyers (15,527 members) was three times more than the number of Autowini Sellers (4,781 members). The number of access to the keyword, “Korean Used Car” is nearly equivalent to the number of the member states of the United Nations.

Mr. Choi, the director of SK C&C Encar Global Division said “The overseas demand for Korean used vehicles has been sharply increased. Aftermarket Auto Parts are in great demand from developed countries. On the other hand, Korean Sedan and sport utility vehicles are popular from the emerging markets.”


Korea auto exports faced 54% raise demand from around 161,500 units (2006) to 248,000 units within 5 years. The best selling items are Hyundai Avante XD, Hyundai Grand Starex (Russia) and Kia Morning (Vietnam). 
Hyundai Equus Limousine has been sold to German by air shipment.

In fact, more than 1,000 used car companies in Korea used to sell their products to the buyers in their yards. However, since the emergence of B2B Used vehicle online marketplace, the importers and exporters were able to get provided a simple and manageable process covering every step of international supply & demand chain.

Besides, the Japanese used car export companies jump into this online trading market. They post information of the products (Toyota, Honda & Nissan) on Autowini and get inquiries from the international buyers online. SK Encar said, “This happens because there is no such platform as Autowini.com in Japan. Not only will the sales of used car, but also of spare parts be dramatically increased in the near future.”

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Reference: Biz.chosun.com