Domestic Sales Decline in Complete Car Industry, September Discount Event for Hangawi

[Asia Economy Reporter Ki-min Lee] Due to the shortage of automotive semiconductors, finished car manufacturers whose sales volume has slightly decreased are launching discount promotion campaigns for Chuseok this month.

According to the industry on the 5th, domestic finished car manufacturers whose sales volume decreased last month due to the semiconductor shortage will continue to run discount promotions this month as well.

Hyundai Motor Company, Kia, Korea GM, Ssangyong Motor, and Renault Samsung Motors sold 106,247 units in the domestic market last month, about 5% less than the same period last year. Among them, Korea GM, Hyundai Motor, and Ssangyong Motor saw decreases of 40.1%, 7.6%, and 3.6% respectively compared to the same period last year. In the case of Renault Samsung Motors, overall sales increased by 16.8% year-on-year thanks to XM3 export volumes, but domestic sales decreased by 24.6% year-on-year. Among the five domestic finished car companies, only Kia saw a 6.6% increase in domestic sales due to the new Sportage effect.

Domestic finished car manufacturers are conducting promotions this month to boost the decreased domestic sales again. Hyundai Motor, the eldest brother, is running a 'period delivery condition' event where customers who purchase major models produced before July can get a 300,000 KRW discount if purchased between September 1?10, and a 150,000 KRW discount if purchased between September 13?17. Kia is also launching a Stinger exclusive purchase program offering 2.5% low-interest installment payments over 36 months, exemption from early repayment fees, and up to 320,000 KRW annual fuel discounts for those who buy the Stinger. Additionally, a 200,000 KRW discount benefit continues for those purchasing the Bongo LPG.

Ssangyong Motor, which is undergoing a sale process, is running a promotion that supports travel expenses along with discount benefits. Customers who take delivery in September can receive up to 1,500,000 KRW discount or 60-month interest-free installment benefits. If customers purchase the sale festa models Tivoli & Air or Korando with a lump sum payment, they receive up to 1,500,000 KRW discount per model and 500,000 KRW travel expenses. Also, customers purchasing with the no down payment Double-Up Special Installment Plan (3.9% interest, up to 72 months) receive 1,000,000 KRW travel expenses. Customers who purchase the All New Rexton and The New Rexton Sports & Khan with the special installment plan will receive 500,000 KRW travel expenses.

Korea GM is offering a 36-month interest-free installment benefit to customers purchasing the Traverse, Trailblazer, and Malibu through the 'Healthy and Happy Autumn with Chevrolet' promotion. Especially, if customers choose the combo installment plan combining installment and cash support, they receive 2,500,000 KRW for Traverse, 1,800,000 KRW for Malibu, and 800,000 KRW for Trailblazer.

Renault Samsung Motors is extending the ‘SM6 Free Upgrade’ event, which offers benefits up to 2,160,000 KRW, until the end of this month. For the Renault Master, they plan to run the 'Happy New Master Bus 15-seater Special Benefits' promotion, which includes gifts such as Smart Connect III, HD rear camera, passenger seat lamp main switch, and provides up to 1,500,000 KRW vehicle insurance support, totaling benefits worth up to 2,880,000 KRW.

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