By Baek Byung-yeul Hyundai Motor and other domestic carmakers have been facing difficulties launching their own used car businesses, as drawn-out negotiations with the used car industry have been going nowhere.
The used car industry demanded that the two carmakers sell only 110,000 used cars per year, while Hyundai Motor and other car brands demanded to be able to sell 250,000 cars per year.
Given the fact that overseas car brands such as BMW, Mercedes-Benz and Lexus are operating pre-owned certified car businesses, repairing used cars of their brands and selling them back to customers, calls have been growing over the need for Korean brands to enter the used car market.