Hyundai’s hydrogen-powered SUV, the Nexo, emerged as the fastest-selling vehicle in South Korea’s used car market last month, according to industry data.
Despite a new car price exceeding 70 million Korean won and a real-world purchase cost of around 40 million won even with government subsidies, used Nexos are now attracting buyers at dramatically lower prices—near-new, fully equipped models are trading for as little as 15 million won.
K Car, the country’s largest direct-operated used car platform, reported on March 10 that the Nexo had the shortest average sales period in February at just 16.9 days. This outpaced popular models such as the compact “The New Ray” (18.7 days), the subcompact sedan “The New K3” (18.2 days), and the “LF Sonata” (22.1 days), which typically see strong demand from first-time buyers in their 20s and 30s.
Industry analysts attribute the rapid turnover of the Nexo to its steep price drop. While hydrogen vehicles often lag in resale due to limited refueling infrastructure and safety concerns, February’s surge in used car demand created a rare opportunity for buyers.
The significant markdown has repositioned the Nexo—from a symbol of cutting-edge hydrogen technology to a highly cost-effective SUV option in the secondhand market.
Compared to conventional internal combustion engine vehicles, which generally depreciate 10–15% per year, hydrogen models like the Nexo are seeing unusually fast price adjustments. This trend reflects growing consumer interest in alternative fuel vehicles as affordability becomes a key factor in the used car segment.
