K Car, a company operating a direct-managed used car platform, achieved its highest-ever quarterly sales and operating profit. Sales from its used car auction business grew by nearly 30% year-on-year, driving the record performance.
On May 12, K Car announced that its sales and operating profit for the first quarter of 2025 reached 604.7 billion won and 21.5 billion won, respectively. Both sales and operating profit marked the company's highest quarterly figures ever. Compared to the same period last year, sales increased by 0.04% and operating profit rose by 21.8%.
K Car explained, "Despite the contraction of the used car market due to sluggish domestic consumption, we were able to achieve strong results by strengthening our fundamentals through systematic operations such as AI-based demand forecasting and price estimation."
In particular, auction business sales increased by 28.1% compared to the same period last year, leading to the strong performance. Last month, K Car continued to invest in strengthening its auction business competitiveness, such as expanding parking space at the Sejong No. 2 auction center. In retail sales, the stabilization of used car installment interest rates led to increased demand for high-priced, near-new vehicles, while at the same time, economic uncertainty drove up demand for efficient, low-priced vehicles, resulting in a polarized market trend.
Jung Inguk, CEO of K Car, said, "The first quarter 2025 results clearly demonstrate the positive momentum brought by K Car's data-driven AI capabilities and the restructuring of the used car market. K Car will continue to propose innovative services and customized solutions, and will continuously enhance corporate value through stable financial performance."
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