Hyundai’s vehicles’ resale value in the Malaysian second-hand market has apparently seen a significant rise over the last five years, thanks to increasing demand for the Korean brand’s pre-owned cars, according to sole distributor Hyundai-Sime Darby Motors (HSDM).
HSDM’s says that the increase in demand locally is in line with the brand’s rising market share globally, as a result of Hyundai’s wins in a series of global awards for its cars.
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The perception that Hyundai cars have substantially lower resale value is wide off the mark, says HSDM Managing Director Low Yuan Lung. “The difference in the selling price of a five-year-old Hyundai model in comparison with the likes of a Japanese
model is marginal. The same goes for the depreciation value of both makes after five years, which is about 10% per year.”
“Hyundai has come a long way to prove itself to be a reliable car brand that is of superior quality. Hyundai models today are not just good-looking, but they are also equipped with the latest innovation that is at par with premium continental brands, which is why they are in demand,” he added.
The best indicator of the demand can be seen from HSDM’s own pre-owned car programme, Hyundai Promise; the company says that all the models on the programme have sold out soon after being listed.
All models that are listed on the Hyundai Promise programme have passed stringent and rigorous inspections to ensure that they are in optimal electrical and mechanical condition, and are major accident-free and only equipped with genuine parts.
Additionally, all approved and certified Hyundai Promise vehicles come with an extended warranty of between two and five years, and some even come with free service maintenance packages.
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Customers who would like to sell, trade-in, or purchase a car from Hyundai Promise can contact Sime Darby Auto Selection via its website, linked here.
