"Domestic Demand is Hope"... Three Mid-sized Car Companies Launch Aggressive Promotions for May

[Asia Economy Reporter Kiho Sung] The three major domestic automakers are launching large-scale promotions in May. Due to difficulties in securing overseas supply caused by the novel coronavirus disease (COVID-19), they are placing their hopes on the domestic market.

According to the automotive industry on the 10th, Korea GM is conducting a COVID-19 overcoming support campaign in May, providing special support of 200,000 to 300,000 KRW per vehicle model to medical personnel, delivery workers, and public officials. Additionally, public officials and medical workers who own Korea GM vehicles and visit one of the 419 service centers nationwide from the 4th to the 29th will receive eight types of free vehicle safety inspections and indoor sterilization and deodorization services.

Also, in celebration of Family Month and Teachers' Day, Korea GM offers 200,000 to 300,000 KRW support per vehicle model to customers such as those with multiple children, multicultural families, newlyweds, teachers, and school staff. Customers purchasing the Spark who use the 'Combo Installment Program' will continue to receive 1,000,000 KRW, equivalent to 10 years of automobile tax, following last month’s support. Customers purchasing Malibu, Trax, and Equinox will receive a 7% acquisition tax support.

Renault Samsung Motors offers new XM3 buyers installment plans of up to 72 months at 3.9% interest or 36 months at 5.5% interest. Additionally, Renault Samsung provides up to 60 months of interest-free installments for electric vehicle SM3 Z.E. buyers. Cash purchasers receive a dramatic discount of 6,000,000 KRW. Buyers of the ultra-compact electric vehicle Renault Twizy can receive up to 700,000 KRW worth of accessory purchase costs or 500,000 KRW in cash support.

Renault Samsung applies low-interest benefits of up to 36 months at 1.9% or up to 72 months at 3.9% for SM6 and QM6 vehicles purchased via installment plans. Furthermore, SM6 contract customers will receive a vehicle of a higher trim than the selected grade, enjoying benefits up to 2,450,000 KRW. QM6 customers can choose between purchase cost support worth up to 1,500,000 KRW or cash support up to 500,000 KRW, and customers owning vehicles over 10 years old will receive an additional 300,000 KRW discount.

In addition, among SM6 and QM6 buyers, medical institution workers will receive an additional 500,000 KRW discount. This expands the benefits previously applied only to public officials, school staff, and national veterans.

SsangYong Motor is offering up to 10% price discounts and interest-free installments in May. Especially, for vehicles produced in March and April, a limited quantity of 3,000 units will be sold with up to 10% discount. Interest-free installments are applied to SUVs such as the G4 Rexton, Korando, and Tivoli.

Additionally, customers can choose between a maximum 1,000,000 KRW discount or the 'THANK U Gift' package, which includes a 10-year/100,000 km warranty period, a black box, and premium tinting.

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