Kia Motors "Sorrento Hybrid Tax Benefits Covered by Company"... Up to 2.3 Million KRW

[Asia Economy Reporter Kiho Sung] Kia Motors has decided to directly compensate for tax benefits related to the new Sorento Hybrid model, for which pre-orders were suspended due to failure to meet government energy consumption efficiency standards. The company plans to cover the full amount corresponding to the tax benefits (individual consumption tax, education tax, acquisition tax, etc.) granted to eco-friendly vehicles at the previously announced price.

On the 6th, Kia Motors announced a notice under the name of President Han-woo Park on its website, stating, "We will bear the tax benefits received by eco-friendly vehicles for customers who pre-ordered the new Sorento Hybrid."

Kia Motors added, "We believe the disappointment felt by customers who eagerly awaited the new car launch is very significant," and "All Kia Motors employees will renew their determination and do their best to ensure that such customer inconvenience does not occur again."

Accordingly, Kia Motors will guarantee tax benefits for approximately 13,000 pre-ordered Sorento Hybrid units. The tax benefits amount to up to about 2.3 million KRW. This includes approximately 1.43 million KRW for individual consumption tax, education tax, and VAT combined, and up to 900,000 KRW for acquisition tax.

Kia Motors stated, "We will provide detailed individual guidance on our compensation plan and expected delivery schedule at the contracted dealerships to pre-order customers," and "The timing for resuming Sorento orders will be carefully reviewed and announced later."

This content was produced with the assistance of AI translation services.