"Seeking Cars Under 100,000 km and 20 Million Won" High Oil Prices and Economic Downturn Drive Reversal in Consumer Trends

K Car Analyzes Retail Sales Data for First Half of 2026
Clear Trend Toward Value-Conscious Consumption
Increase in Share of Compact and Lower Midsize Cars

K Car, a company operating a direct used car platform, announced on July 2 that its analysis of retail sales data for the first half of 2026 indicates a clear trend toward value-driven consumption in the used car market. This shift appears to be the result of continued economic uncertainty, with consumers increasingly opting for rational consumption by choosing vehicles that are nearly new but more affordable, instead of brand-new cars.

By sales price segment, vehicles priced under 20 million won showed strong demand. In the first half of the year, cars sold for less than 10 million won accounted for 23.5% of total retail sales, up 3.5 percentage points from 20.0% in the same period last year. Vehicles priced between 10 million and 20 million won also rose to 40.9%, up 0.8 percentage points from 40.1% a year earlier.

Analysis of K Car's Retail Sales Data for the First Half of the Year. K Car

Looking at mileage, vehicles with 50,000 kilometers or less accounted for 36.8% in the first half of this year, down 5.1 percentage points from 41.9% in the same period last year. In contrast, vehicles with mileage between 50,000 and 100,000 kilometers accounted for 47.7%, up 2.5 percentage points from a year ago, and those between 100,000 and 150,000 kilometers rose to 14.9%, also up 2.5 percentage points.

This trend is analyzed to be linked to a weakening in consumer sentiment due to factors such as soaring oil prices and the impact of ongoing wars. In addition, as new car prices continue to rise, the burden of purchasing nearly new used cars has increased, leading more consumers to choose vehicles priced under 20 million won with mileage around 100,000 kilometers. As vehicle durability and quality have improved, even cars with higher mileage are increasingly seen as reasonable choices if they are well-maintained and competitively priced.

By fuel type, there is a noticeable preference for eco-friendly vehicles. The share of electric vehicles in sales reached 1.7%, more than doubling from 0.7% a year earlier, representing an increase of 1.0 percentage point. Hybrid vehicles also rose to 8.6%, up 0.3 percentage points from the previous year. On the other hand, the share of diesel vehicles dropped to 14.1%, down 2.3 percentage points from 16.4% last year.

By vehicle type, the share of SUVs, compact cars, and lower mid-sized cars increased. SUVs maintained the highest share at 34.2%, up 0.3 percentage points from 33.9% in the same period last year. Compact cars rose to 15.4%, up 1.2 percentage points, while lower mid-sized cars increased to 13.3%, up 0.8 percentage points. In contrast, large cars and mid-sized cars declined to 15.7% and 13.2%, down 1.1 percentage points and 0.9 percentage points, respectively. This suggests that demand has shifted toward compact and lower mid-sized cars due to their lower maintenance and purchase costs.

The most sold vehicle at K Car in the first half of this year was the Casper, which ranked 10th in sales during the first half of last year. The New Grandeur and Avante AD followed, and within the top 10 were also The New Ray, The Next Spark, and The New Kia Ray, highlighting the increased popularity of compact cars.

In-Kuk Jung, CEO of K Car, stated, "In the used car market during the first half of this year, consumption patterns clearly show consumers seeking to reduce price burdens while maintaining satisfaction. We will continue to secure a stable supply of used cars across a wide range of prices and model years so that consumers can rationally choose vehicles that best fit their budgets and needs."

This content was produced with the assistance of AI translation services.