Hyundai Motor and Kia, along with the domestic finished car industry, launched large-scale discount events for major popular models in December, when the special consumption tax cut is applied for the last time.
Hyundai Motor said on the 1st it will run a "Last Chance Promotion" for popular models including the Grandeur. With the temporary cut in the special consumption tax ending at the end of the year, Hyundai Motor is offering customers who purchase the Grandeur (including the hybrid) either a 2 million won discount on the vehicle price or an interest-free benefit on standard mobility installment plans regardless of term. Hyundai Motor said customers can save about 4.98 million won in interest expense with the interest-free option.
Hyundai Motor and Genesis popular models also come with discounts. The Kona EV has a basic 3 million won benefit, and the Ioniq 5 offers 2 million won. The Sonata (including the hybrid) comes with up to 2 million won in price benefits, and the Porter EV combines a 1.5 million won vehicle discount with 500,000 won in charging points. The Genesis GV80 offers up to 5 million won, the Genesis G90 up to 4 million won, and the G80 and GV70 up to 3 million won.
Kia will offer a 3 million won discount on the EV9 produced in November this year. It will also continue the EV Festa, targeting the Niro EV and EV6. They come with discounts of 3.5 million won and 2.5 million won, respectively. Customers who purchase the Bongo EV can receive up to 4.5 million won off. For customers buying the recently launched purpose-built vehicle (PBV) PV5, Kia will provide about 400,000 won in utility support funds.
Renault Korea will provide special consumption tax benefits worth 400,000–1.6 million won depending on the model. For the Grand Koleos, there are additional benefits of 1 million–2.6 million won by trim. Including loyalty benefits for customers with prior Renault Korea purchases and flood damage support, customers can receive up to 5.4 million won in benefits.
KG Mobility (KGM) will expand the models eligible for its residual value guarantee financial product, the "Slim Pay Plan Installment Program." It is a financial product that recognizes future used-car value up front to reduce monthly installments. The program initially applied only to the Torres and Actyon hybrid, but starting next month it will be expanded to include the Rexton New Arena.
GM Korea will run special financing and discount promotions for all Chevrolet and Cadillac models throughout December. Cadillac will offer a choice of 60-month zero-interest installments (0% down payment), 60-month zero-interest leases (7% security deposit), or 17 million won toward the down payment or security deposit when using partner financing for the brand's first all-electric SUV, the Lyriq.
Customers who purchase the 2025 The New Escalade (including ESV) will receive benefits such as free engine oil changes for life. In particular, for the ESV model, customers can choose year-end special financial options such as a 3.8% low interest rate (60 months, 30% down payment). The Trailblazer and Trax Crossover are also eligible for low-interest, long-term financing programs.