As BMW's core models, the midsize sedan 3 Series and the full-size-leaning 5 Series, hold a solid share in Korea's import market, attention is turning to whether the compact sedan 2 Series will succeed. If sales of the 2 Series also rise, BMW could lead each segment in the imported sedan market. BMW Korea rebounded by rolling out financing products for the 2 Series.
On the 21st, according to the Korea Automobile Importers & Distributors Association (KAIDA), cumulative sales of the BMW 5 Series this year reached 5,624 units, up 1% from the same period last year (5,571 units). Cumulative sales of the 3 Series totaled 3,138 units, a 54.7% jump from a year earlier (2,029 units). The flagship 7 Series also improved, recording 1,430 units. As a result, BMW ranked No. 1 in sales across several segments, making it the German brand that sells the most sedans.
Sales of the fully redesigned 1 and 2 Series, newly launched in July, are gradually increasing but still trail BMW's other sedans. Aiming to expand sales, BMW Korea plans to broaden promotions for first-time import car buyers, as the two models serve as entry-level offerings.
BMW Korea set its target for the fully redesigned 1 and 2 Series at customers in their 20s and 30s purchasing an import car for the first time in Korea. That is why features typically found in higher-end models—such as active cruise control with stop-and-go, steering and lane-keeping assist, and automated parking—were included in the entry-level 1 and 2 Series.
The 1 and 2 Series also gained improved interior space and performance with the full redesign. For the BMW 1 Series, overall height increased by 25 mm and length by 42 mm, creating a roomier cabin. Cargo space expands from 380L (liters) to as much as 1,200L. The 2 Series Gran Coupe also adopts a four-door layout that is rare in the compact segment, enhancing convenience.
The same goes for driving performance. A four-cylinder gasoline engine with higher output than the previous generation and a 7-speed transmission are standard. Peak output for the BMW 120 and 220 is 204 horsepower, with maximum torque of 30.6 kg‧m. The 228 xDrive features an engine delivering 245 horsepower and 40.8 kg‧m of torque, paired with all-wheel drive. The M135 and M235 are equipped with engines producing 317 horsepower and 40.8 kg‧m of torque.
To boost sales of the two models, BMW Korea introduced a new financing product, "BMW Smart Installment." The core is to lower monthly payments for customers purchasing the 120 M Sport Package (42.5% down) and the 220 Gran Coupe M Sport Package (46% down). With this plan, the monthly payment is about 300,000 won. An additional subsidy worth about 3,000,000 won is also offered, and a general product with an interest rate in the 0% range has been launched.