This year, the used car market has seen a significant increase in average transaction prices due to rising demand for eco-friendly vehicles, which have lower maintenance costs amid high fuel prices.
On July 14, Carrot's used car service, Carrot Used Cars, analyzed transaction data for the first half of 2026, revealing that the average transaction price for used cars rose approximately 30% (2.44 million won) from 8.22 million won last year to 10.66 million won this year. By vehicle type, the average transaction price for internal combustion engine vehicles (diesel and gasoline) was 9.84 million won, while eco-friendly vehicles (hybrids, electric vehicles, hydrogen, etc.) averaged 25.19 million won. The total number of listings increased by 96% compared to the same period last year.
Notably, the transaction volumes for electric vehicles (up 111%) and hybrids (up 132%) more than doubled compared to the previous year, indicating a rapid shift in demand towards eco-friendly vehicles. In contrast, the transaction volumes for diesel and gasoline vehicles increased by 51% and 58%, respectively, suggesting a quicker transition to lower-maintenance eco-friendly options.
Interest from users has also shifted towards eco-friendly vehicles. In the first half of the year, the total views for hybrid listings increased by 54% compared to last year. In May, the BMW i3 saw a staggering increase of 3,251% in views, while in June, the Hyundai All-New Santa Fe HEV experienced a 2,659% rise, reflecting a broadening interest in eco-friendly vehicles from older to newer models. The number of 'favorites' also surged for electric models, with the Casper EV (up 180%), Model Y (up 53%), and Ioniq 5 (up 31%) showing significant increases.
In terms of transaction rankings, commercial trucks and compact cars continue to dominate the market. The top two spots for transaction volume in the first half of the year remained unchanged from last year, held by the Hyundai Porter II and Chevrolet Spark. The Kia All-New Morning and New Morning took the third and fourth spots, while the Hyundai Grandeur HG ranked fifth. A notable rise in rankings was seen for the Mercedes-Benz E-Class, which saw a 128% increase in transaction volume, moving up from 33rd to 18th place, while the Carnival KA4 jumped from 19th to 12th with a 101% increase.
Earlier this year, Carrot Used Cars reported that the average transaction price for compact cars was approximately 4.76 million won, reflecting a 23% increase from the previous year.
A representative from Carrot Used Cars stated, "Analyzing the data from the first half of the year, it is clear that practical consumption, considering maintenance costs, has been the biggest trend in the used car market this year, from electric and hybrid vehicles to compact cars. We will continue to expand information and transaction convenience to help users make more rational choices and conduct safe transactions amid changing external conditions."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.