Korea's finished car industry on Apr. 1 announced April discounts for electric vehicles and popular models. The features include discounts for switching to EVs and, in an era of high oil prices, fuel cost discounts.
Hyundai Motor last month expanded the Ioniq 9 discount to as much as 6.1 million won, and decided to keep it this month. To mark its triple crown in the domestic automobile awards, it is offering a 1 million won discount. The Ioniq 6 and Ioniq 5 are eligible for maximum discounts of 3.5 million won and 3.2 million won, respectively. The Porter EV also has a discount of up to 5.15 million won. For the Grandeur, customers who take delivery of models produced before Mar. will get a 2 million won discount, for total benefits of up to 3.9 million won. The same applies to the Grandeur Hybrid.
Kia's purchase benefits this month consist of EV-focused discounts and fuel cost support. Customers who buy the EV3 or EV4 will receive special benefits worth 1.5 million won for those two models. The EV9 comes with basic benefits worth 3 million won. These three models and the EV5 also qualify for a 1 million won EV Change discount when switching to an electric vehicle. For the PV5 Passenger, models produced in Feb. get a 1 million won discount and those produced in Mar. get a 500,000 won discount.
Renault Korea, in response to high oil prices, will offer a special fuel cost support of 500,000 won for customers purchasing the Grand Koleos. The amount increases to 1 million won when buying the 2.0 gasoline turbo. It is also running a 36-month interest-free installment product, "My Way," for customers purchasing vehicles to which monthly production promotions worth 500,000 to 2 million won apply. Interest-free terms apply up to an installment principal of 20 million won. For Filante buyers, the company will provide the "R:assure" program, which focuses on used car price guarantees, at no cost.
KG Mobility will offer the Slim Pay Plan program this month to customers purchasing the Musso, Actyon Hybrid, Torres Hybrid, Torres EVX, and Rexton New Arena. The program allows buying a vehicle over 60 months with a minimum monthly payment in the 170,000 to 190,000 won range. There are also financial promotions such as 12 months interest-free when the down payment ratio is 50%. Customers purchasing the K5, K8, and K9 will also receive special fuel cost support of 500,000 won and 1 million won, respectively.
General Motors Korea (GM Korea) has introduced a fuel cost support installment program for all models. For Trax Crossover buyers, low-interest installments and fuel cost support are provided. Based on 36 months, an annual interest rate of 3.5% and 500,000 won in fuel cost support apply; if choosing a 60-month plan, an annual rate of 4.0% applies along with a 300,000 won cash discount. When purchasing the Trailblazer, a 36-month annual rate of 4.0% and 500,000 won in fuel cost support are provided. There is also a special 300,000 won discount for Family Month.