Providing Purchase and Sale Services to Used Car Dealers
Opportunity for Consumers to Buy Actual Available Vehicles
[Asia Economy Reporter Dongwoo Lee] Hyundai Glovis is launching a used car brokerage platform called ‘Autobel.’ Dealers who have won vehicles at Hyundai Glovis’s existing used car auction centers can now sell directly to consumers through the newly introduced Autobel platform.
According to Hyundai Glovis on the 20th, the slogan for this service is ‘A used car platform created by experts who know cars.’ The goal is to provide sales channels to used car dealers and offer consumers a trustworthy purchasing service, creating a ‘win-win’ opportunity for both parties.
Users can access Autobel via the internet and a dedicated mobile application (app) to use key services such as buying my car, selling my car, and checking my car’s market price.
Reduced Concerns Over False Listings
Hyundai Glovis adheres to strict operational methods to ensure transparent transactions on the Autobel platform while providing customized services to registered used car dealers.
Dealers (sellers) wishing to use the Autobel service must submit their dealership’s business registration certificate and employee ID card. Used car dealers who participate in auctions held at Hyundai Glovis’s Bundang, Siwha, and Yangsan auction centers and win vehicles can immediately sell these cars to consumers through the ‘Smart Auction Certified Vehicles’ menu within the Autobel platform. The company stated that consumers can confidently purchase vehicles transparently distributed through certified auction members without worrying about false listings.
Hyundai Glovis verifies the actual availability and sales status of vehicles registered on the platform by linking data with its operating used car auction centers. The company’s used car auctions list about 10,000 vehicles monthly on average, with approximately 2,200 dealers participating.
Hyundai Glovis has also established regulations to permanently revoke membership for dealers caught selling false listings. Autobel comprehensively analyzes auction data and actual transaction prices of vehicles traded on the platform to provide dealers and consumers with accurate real-time current market prices for all vehicle models.
Consumers wishing to purchase used cars can check 360-degree rotating virtual reality (VR) photos showing the vehicle’s interior and exterior and review 112 diagnostic results conducted by professional appraisers through the ‘Live Studio’ menu under Autobel’s ‘Buy My Car’ section. Additionally, an online home service is available, allowing customers to have the purchased vehicle delivered to their home, test drive it for three days, and then confirm the purchase.
Consumer-Customized Selling Services and Expanded Convenience Including Future Used Car Price Predictions
For consumers wanting to sell their cars through Autobel, three services are offered: professional appraiser visit sales, highest price sales through comparative quotes, and no-appraisal sales.
Visit sales involve entering simple vehicle information into Autobel, after which a used car professional appraiser visits the customer to provide on-site consultation, sales, and ownership transfer, handling all procedures in a one-stop service. Comparative quote sales allow customers to input vehicle information and photos into the platform, after which competitive bidding among used car dealers occurs over 24 hours, and the customer sells the vehicle to the dealer they select.
The no-appraisal sales service, introduced for the first time domestically, uses actual transaction price information to allow customers to sell their cars on Autobel by simply uploading photos without complicated procedures such as appraisal or bidding. This service is available only for accident-free vehicles registered as new cars within 33 months and with mileage under 30,000 km.
Hyundai Glovis measures and provides customers with expected used car prices for 3 months, 6 months, and 1 year ahead by considering auction data it holds, new car release schedules, average mileage, vehicle model characteristics, and price depreciation over time.
A company representative said, “Autobel will secure consumer trust based on the know-how and expertise accumulated through operating used car auctions and other businesses, and by offering relatively low fees and various convenient features, it will grow into the largest used car online platform in Korea.”
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