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THE INVESTOR
May 28, 2022

Market Now

Hyundai Glovis launches online platform for used car purchases

  • PUBLISHED :January 21, 2022 - 11:35
  • UPDATED :January 21, 2022 - 11:35
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(Hyundai Glovis)

Hyundai Glovis, Hyundai Motor Group’s logistics arm, said Thursday that it has launched Autobell, an online platform for used car sales and purchase, to diversify its business portfolio.

Hyundai Glovis has been operating a used car business since 2001, mostly focused on B2B sales of secondhand cars through auctions.

Its parent company Hyundai Motor sought to enter the certified used car market lately, but it seems blurry whether the automaker can launch B2C business as planned this month, after the ministry put a halt on the business launch temporarily earlier this week.

According to Hyundai Glovis, to enhance transparency for customers, it has newly adopted a regulation to permanently forbid dealers with a history of fraud from using the platform.

Via the Autobell app, customers can compare the vehicle’s price and market price real-time, check exterior and interior of the vehicle through VR viewer and review the inspection result conducted by vehicle evaluation professional.

Hyundai Glovis said based on its decades-long data accumulated from secondhand car auction, customers can also calculate the future price of his or her car, as the industry first. The company said it will help the customer to choose the right timing to sell off.

Customers can also confirm purchase after three day-long test driving, when the car is delivered to the doorstep through online home service.

“Based on our accumulated history of market know-how and expertise, we will continue to offer diversified secondhand car platform,” said a Hyundai Glovis official.

According to the company, on average, some 10,000 secondhand vehicles go on auction monthly through Hyundai Glovis, while some 2,200 companies participate in the auction.

By Kim Da-sol (ddd@heraldcorp.com)

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