Hyundai Motor Company has introduced a trade-in scheme that allows consumers to buy electric vehicles as if they were electronic devices. The aim is to reduce the price burden on consumers who want to buy a new electric vehicle and increase EV sales in the domestic market. The programme allows customers to sell their existing car through a certified used car service and buy a new Hyundai EV model (Ioniq 5-6, Kona Electric). The sale of certified pre-owned EVs will also start this month.Trade-in is a method used mainly in the smartphone market to reduce the price burden on consumers. Consumers can buy a new product at a lower price than the factory price in exchange for returning their old product as used. Consumers who wish to trade-in can sell their old car through the Sell My Car service on the Hyundai-Genesis Certified Pre-Owned Car application or website 15 days prior to the delivery of the new car.Special offers are available for consumers who trade-in to purchase a new electric vehicle. For example, if you own a Hyundai Genesis electric vehicle and sell it to a certified used car service, you will receive a reward in addition to the sale price. The reward can be up to 2% of the sale price. If you buy a new Hyundai electric car, you will also receive a 500,000 won discount on the price.There are also benefits for those who trade in an internal combustion engine or hybrid car for a Hyundai EV model. If you sell your old car, including other brands, to a Hyundai Certified Used Car Service, you can get up to 41 TP3T of the sale price as compensation. Plus, if you buy a new Hyundai EV model, you can get an additional 300,000 won off the price.
There are also measures in place to reassure consumers who may have concerns about used electric vehicles. The 'Battery Rating System' is one example. It is an evaluation based on battery condition and driving range per charge, and was developed in collaboration with Hyundai Motor Group's R&D Centre. The battery grading system determines whether the high-voltage battery has failed, and if the driving range does not pass a certain standard, it is judged as a defective product. Only EVs with a battery rating of 1-3 can be sold as certified pre-owned vehicles.Sales of EV certified pre-owned vehicles will begin this month. Hyundai will only sell EV-certified used cars with a mileage of 60,000 kilometres or less and within two to three years of new car registration. In addition, Hyundai plans to enhance customer satisfaction by guaranteeing EV-specific parts for up to 10 years and 160,000 km of mileage after new vehicle registration and high-voltage batteries for up to 10 years and 200,000 km of mileage after new vehicle registration.Hyundai Motor said, "The certified pre-owned vehicle business allows us to provide consumers with a wider range of choices by defending the residual value of EVs, and we will continue to provide various benefits to establish Hyundai Certified Pre-Owned as a trusted EV trading platform for customers."
Article by Roadtest Editorial (kyuyongk98@gmail.com)Photo Hyundai Motor Company