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Hyundai Motor Group officially launched its trade-in program for electric vehicles in South Korea this month. The automaker will also start selling used EVs.
Offering Affordable Vehicles via Trade-Ins
Hyundai Motors' new EV trade-in services will allow customers to buy brand-new electric vehicles at lower prices. The scheme is simple: car owners can get huge discounts by exchanging their old or used vehicles for new ones, as per The Korea Times.
On Thursday, the Korean car manufacturer said it implemented the trade-in program to lessen the burden on people who would like to purchase brand-new environmentally friendly vehicles. This move will also benefit the company since it can increase its share in the EV market through the program.
Availing Hyundai Motor's Trade-In Offer
Hyundai Motor's EV trade-in offer is now available, and the company hopes that many locals will be encouraged to buy and boost domestic EV sales. This service is open to customers who sell their vehicles to the company's certified used vehicle service and buy Hyundai's EV models, the Ioniq 5 and 6 or the Kona Electric.
The Korea Herald reported that those selling their used Hyundai or Genesis EV units will get an additional incentive discount of up to two percent of their car's sale price. They will also enjoy a KRW500,000 or $377 discount when they purchase any of the brand's EVs.
Customers who own other brands of vehicles can still sell their used units and receive an extra compensation of up to four percent of their unit's sale price. An additional KRW3,000 discount is given if they buy a new Hyundai Motor-branded electric car.
"By defending the salvage value of EVs through the certified used vehicle business, we will be able to give consumers more options to choose from," HMG said in a statement. "We plan to provide various benefits in the future so that the Hyundai-certified used vehicles service can become a trusted EV trading platform."
Photo by: The Punisher/Unsplash
