The auto industry is launching large-scale discount events in September as fall arrives. It aims to boost sales with major discounts during the peak season.
On the 1st, according to the auto industry, Hyundai Motor(005380) ended the "Summer Festa," which had run through last month, and is rolling out a new discount event with changed eligible models and benefits.
First, the flagship sedan The New Grandeur, which was released in May and began its first discount event last month, will see the maximum discount increase from 2.8 million won to 3.3 million won. The maximum discount for the hybrid model is 800,000 won.
The previous model Grandeur and the Grandeur Hybrid are eligible for maximum discounts of 5.8 million won and 4.3 million won, respectively.
The compact sedan The All New Avante, launched last month, and the midsize sedan Sonata The Edge are eligible for maximum discounts of 700,000 won and 2 million won, respectively, regardless of powertrain.
For sport utility vehicles (SUVs), the same discount amount is applied by model regardless of powertrain. The large midsize SUV Palisade and the midsize SUV Santa Fe are eligible for maximum discounts of 4 million won and 4.1 million won, respectively.
The compact SUV Tucson and the small SUVs Venue and Kona are eligible for maximum discounts of 1 million won and 1.2 million won, respectively. The hydrogen electric SUV Nexo gets up to 4.7 million won off.
Electric vehicle discounts are up to 4.8 million won for the Kona Electric and the N Line of the Ioniq 5 and 6, and up to 4.6 million won for the Ioniq 5 and The New Ioniq 6. The maximum discount for the Ioniq 9 is 6.5 million won.
The leisure vehicle (RV) Staria offers discounts of up to 3 million won, and the ST1 offers 4.1 million won. The commercial Porter II offers up to 3.9 million won off, and the Porter II Electric offers 4 million won.
Genesis is offering up to 2 million won off the compact sedan G70 and purchase benefits of up to 6.71 million won and 4.43 million won for the compact SUVs GV60 and GV70, respectively.
The midsize sedan G80 is eligible for purchase benefits of up to 6.45 million won, and the midsize SUV GV80 offers discounts of up to 7.33 million won. The large midsize sedan G90 is discounted by up to 16.04 million won.
Kia(000270) is also rolling out discounts, led by up to 5.5 million won off the large midsize sedan K8. The midsize sedan K5 offers up to 3 million won off.
The small SUV Niro is eligible for up to 1.8 million won off, and the midsize SUV Sorento is discounted by up to 2.1 million won. The commercial Bongo LPG truck offers up to 3 million won off, and the Tasman pickup truck offers up to 7 million won off. The RV Carnival is discounted by up to 1.8 million won.
Renault Korea is leading its event with up to 3 million won off the midsize SUV Grand Koleos (varies by production month). The large midsize crossover Filante is discounted by up to 1.5 million won, and the coupe-style SUV Arkana is discounted by up to 3 million won.
Chevrolet is offering discounts on the small SUVs Trailblazer and Trax through the small-car owner program (1 million won discount) and fuel cost support.
KG Mobility is running discount events through the residual-value guaranteed installment program "Slim Pay Plan" and benefits for repeat purchases.