SEOUL, Oct. 19 (Yonhap) — Hyundai Motor Co. declared Thursday that it intends to launch a program to offer refurbished used vehicles produced by the company and its luxury brand Genesis, with the objective of selling 5,000 certified pre-owned models within the year.
Hyundai said it will begin sales of used models next Tuesday under the program named “Hyundai Certified.” The company said it has established two exclusive “commercialization centers” to collect and improve the quality of secondhand models in Yangsan, 301 kilometers southeast of Seoul, and Yongin, south of the capital.
Hyundai said it plans to set up such centers in other areas as well after evaluating consumer demand.
Ryoo Won-ha, executive vice president of Hyundai Motor Co., holds a press briefing on the company's used car sales program at a company facility in Yangsan, 301 kilometers southeast of Seoul, on Oct. 19, 2023. (Yonhap)
Covering some 32,000 square meters, the center is responsible for conducting detailed diagnoses and inspections of used Hyundai and Genesis models to improve their quality. Hyundai models will go through the testing of 272 parts and Genesis units 287 parts.
The company said it aims to build a healthy ecosystem for the used car market, which has been criticized for selling low-quality products. Hyundai said it will treat customers of used models on the same level as those of newer models.
Hyundai was registered as a used car operator in January of last year and has established related infrastructure, ranging from those involving the sourcing of used units to refurbishment, logistics and sales.
According to Hyundai, the number of used car transactions in South Korea totaled 2.38 million last year. Hyundai and Genesis models accounted for 38 percent of secondhand deals last year.
This photo provided by Hyundai Motor Co. on Oct. 19, 2023, shows used cars produced by the company that have been refurbished for resale. (PHOTO NOT FOR SALE) (Yonhap)
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