GGM's 'Casper' Recovers to 4,000 Units per Month... Zooming After Promotion

Gwangju Global Motors' compact SUV 'Casper' is showing signs of recovery, selling around 4,000 units per month.

It is interpreted that aggressive promotions, including an ultra-low interest rate event of 0.9%, have had an impact.

According to Hyundai Motor Company on the 31st, a total of 20,866 Casper units were sold in the first half of this year (January to June).

Monthly sales were ▲3,070 units in January ▲3,164 units in February ▲3,248 units in March ▲3,420 units in April ▲4,064 units in May ▲3,900 units in June.

After the new car effect wore off and the compact car market downturn coincided, sales fell to the low to mid 3,000s but recently reached 4,000 units, showing a favorable trend.

It is analyzed that Hyundai Motor's special promotional event with various benefits boosted demand.

The special promotion offers a minimum installment interest rate of 0.9% (36 months) when contracting a Casper vehicle. For 48 months, the benefit is 1.9%, and for 60 months, 2.9%.

Additionally, a basic discount of up to 1.2 million KRW per vehicle is available. As of this date, vehicles with the maximum discount applied are sold out.

Until September 30, customers who contract Casper (including Casper Van) will receive a fuel discount benefit of 1,000 KRW per liter, provided monthly for 20 liters over one year.

Launching the cost-effective option 'The Essential Light' also played a role in appealing amid weakened consumer sentiment due to high inflation.

This trim includes convenience features such as ventilated driver's seat, heated front seats, leather steering wheel (with heating), push start & smart key, and synthetic leather seats as standard, priced at 14.9 million KRW.

A GGM official said, "If the current momentum continues, we expect to achieve this year's target of 45,000 units."

Of course, GGM's maximum annual production capacity is 100,000 units, and the break-even point is said to be around 70,000 units. There is still a long way to go.

Attention is focused on whether the Casper electric vehicle model, scheduled for mass production next year, will become a new breakthrough. Securing maximum driving range and price competitiveness are key.

Meanwhile, Casper was launched in September 2021 and sold about 48,000 units last year, ranking first in the compact car segment. In terms of sales volume, it is close to the mid-size SUV Palisade (49,737 units). Based on new car registrations, it ranked 8th among domestic passenger cars.

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