'Sharp Decline in Sales' Complete Car Industry, Promotion Keywords 'Autumn·With Corona'

Expanding Discount Benefits and Providing Cash Support for Travel Expenses

[Asia Economy Reporter Ki-min Lee] Due to the prolonged shortage of automotive semiconductors caused by the COVID-19 pandemic, finished car manufacturers whose performance declined have unveiled autumn and with-COVID sales strategies this month.

According to the industry on the 4th, last month's sales volume of five domestic finished car manufacturers?Hyundai Motor, Kia, Korea GM, Renault Samsung Motors, and SsangYong Motor?recorded 539,236 units, down 20.7% compared to the same month last year. In the domestic market, sales decreased by 33.7% year-on-year, and overseas sales also dropped by 17.3%.

While September last year was a period when vehicle demand, suppressed by COVID-19, increased, last month’s sales decline is analyzed to be due to production disruptions caused by the prolonged semiconductor supply shortage.

Therefore, finished car manufacturers chose a strategy to prevent sales loss by offering discounts and installment benefits to customers purchasing vehicles this month. Hyundai Motor, through a partnership with Hyundai Card, offers discounts of 300,000 to 500,000 KRW on key models. Additionally, customers who have waited more than three months for the dedicated electric vehicle Ioniq 5 and switch models upon delivery receive a 1,000,000 KRW discount on the Nexo and a 300,000 KRW discount on the Avante HEV, Sonata HEV, The New Grandeur HEV, The New Kona HEV, and The All New Tucson HEV.

Kia is also conducting events for showroom visitors this month, providing ▲LG dishwasher Objet Collection (1 winner) ▲Samsung Galaxy Watch4 (10 winners) ▲Kyobo Bookstore gift certificates worth 30,000 KRW (300 winners) ▲Ediya Americano coupons (100% winning rate) ▲Kia contract deposit support coupons worth 100,000 KRW (3,000 winners), among others. Customers wishing to purchase compact cars receive contract deposit support coupons with a 100% guarantee.

In particular, the three foreign-affiliated companies offer travel expenses and cash support for autumn trips along with discount benefits, while also running COVID-19 related promotions.

Chevrolet offers discounts of up to 3,100,000 KRW and 2,100,000 KRW for customers purchasing the Traverse and Malibu, respectively. It also provides 36-month interest-free installment plans, and when purchasing through a combo installment plan combining cash support and installments, customers receive 2,500,000 KRW cash for the Traverse and 1,800,000 KRW for the Malibu.

Renault Samsung Motors provides various benefits for models such as the QM6 and Renault Master. The 'QM6,' introduced last month as the 2022 model, offers discounts of 1,500,000 KRW for the GDe model and 500,000 KRW for the LPe model through convenience features, accessories, and warranty extension purchase support. The mid-size sedan SM6 offers 2,000,000 KRW cash support when purchasing the 2021 model. Adding the 1,000,000 KRW special stock discount for the 2021 SM6, customers can receive up to 3,200,000 KRW in benefits.

SsangYong Motor also runs a 'Customer Appreciation Event' offering prizes to showroom visitors and a 'Customer Appreciation Festival' providing various benefits depending on the purchased model. Customers who visit the showroom for consultation by the 24th of this month will be entered into a draw to win prizes such as ▲iCamper outdoor kitchen set (10 winners) ▲SsangYong Adventure Nordic-style cotton tarp (40 winners) ▲SsangYong Adventure picnic package (400 winners) ▲Tous Les Jours mobile coupons (550 winners), totaling 1,000 prizes.

Additionally, customers who purchase the Korando or Tivoli & Air with a lump-sum payment will receive either the state-of-the-art safety driving system Deep Control package or a 500,000 KRW discount. When purchasing with a special installment plan without a down payment (3.9%, up to 72 months), customers receive 800,000 KRW for autumn travel expenses. Purchasing the All New Rexton and The New Rexton Sports & Khan with the special installment plan provides a 500,000 KRW benefit.

In particular, Chevrolet supports 300,000 KRW and 100,000 KRW for customers purchasing the Traverse and Malibu, respectively, upon submitting proof of COVID-19 vaccination this month. SsangYong Motor also runs a business owner success event offering an additional 200,000 KRW discount for small business owners and self-employed individuals purchasing The New Rexton Sports & Khan, who may be struggling due to COVID-19.

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