Chevrolet Supports 7% Acquisition Tax for Malibu, Trax, and Equinox in April

[Asia Economy Reporter Suyeon Woo] Chevrolet will implement a 'Tax Free Event' that supports acquisition tax in addition to the government's individual consumption tax reduction for the month of April.

On the 1st, Chevrolet announced that customers purchasing a Spark (excluding LS and Van trims) with the combo installment program will receive 1 million KRW, equivalent to 10 years of automobile tax. Additionally, customers purchasing Malibu, Trax, and Equinox will receive support for 7% acquisition tax.

Furthermore, for customers purchasing Spark, Malibu, Trax, and Equinox, Chevrolet offers a 36-month full interest-free installment program or a 'Happiness for 10,000 KRW' installment program that allows vehicle purchase with a minimum monthly payment of 10,000 KRW for the first year.

This installment program is a customized plan for customers who feel burdened by initial purchase costs, requiring monthly payments of 10,000 KRW for the first year, followed by installments at a 4.5% interest rate for the next three years.

Baek Beom-su, Executive Director of Domestic Sales at Korea GM, stated, "Despite the socio-economic difficulties caused by the novel coronavirus, Chevrolet's efforts to provide maximum benefits to customers will continue," adding, "We hope customers can experience various popular Chevrolet models through the individual consumption tax reduction, Chevrolet's acquisition tax support, and various installment programs."

Meanwhile, Chevrolet is offering installment programs with interest rates ranging from 1.9% to 2.9% for up to 72 months for customers purchasing Traverse and Colorado. Continuing from last month, the 'New Start Promotion' will also be held in April, providing additional benefits of 200,000 KRW for Spark and 300,000 KRW for Malibu, Trax, Equinox, Colorado, and Traverse.

The New Start Promotion supports customers who fall under nine categories from January 1, 2019, to April 30, 2020, including new students and graduates, new hires and retirees, newlyweds, families with childbirth or pregnancy, new license holders, and new business owners.

Support for customers owning old vehicles and special promotions for business owners will continue this month as well. Through this, additional benefits of up to 700,000 KRW are provided depending on the ownership period of the existing vehicle (5 years, 7 years, 10 years), and up to 700,000 KRW benefits are offered to customers purchasing Damas and Labo.

Various installment programs remain unchanged. Bolt EV customers receive up to 3 million KRW in cash support or a 60-month full interest-free installment benefit, while Camaro SS customers receive up to 10% cash support or a 50-month full interest-free installment benefit. Damas and Labo customers are offered long-term installments up to 72 months at a 3.9% interest rate and the 'Happiness for 10,000 KRW' installment benefit.

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