Hyundai Glovis, which runs three auction houses across the country – Sihwa, Bundang and Yangsan -- launched its vehicle auction service in 2001.
From 2012 to 2018, the company recorded an average of 4.8 percent rise in the number of used cars sold via auctions annually. Its accumulated number of auctioned cars hit 1,000,382 in November 2018.
The company attributed the constant popularity of its used car auction service to its network comprising some 1,800 members including franchisees and approved buyers.
Autobell has been expanding its auto auction service, enabling online bidding platform and a mobile vehicle inspection process for submitted cars.
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