"Breaking Through COVID-19" Imported Cars Flood the Market with New Models

"New Car Releases Continue Focused on High-Interest Vehicle Types and Popular Models"

The New Audi Q8 (Photo by Audi Korea)

[Asia Economy Reporter Kim Ji-hee] The domestic imported car industry is attempting to boost demand, which has been subdued due to the novel coronavirus infection (COVID-19), by introducing new models. Although offline events are being restrained due to ongoing concerns about COVID-19, the atmosphere is gradually shifting toward resuming the launch of new cars that had been postponed.

According to the industry on the 29th, Audi introduced the ‘Q7 45 TDI Quattro’ at the end of this month and will launch the ‘Q8’ in the domestic market on the 1st of next month. Audi, which was hampered by a shortage of inventory last year, has announced an offensive with new models this year aiming to restore its reputation in the imported car market.

The New Audi Q7 45 TDI Quattro is a second-generation facelift model of the large sports utility vehicle (SUV) Q7, equipped with a 3.0ℓ V6 diesel direct injection turbocharger (TDI) engine and an 8-speed Tiptronic transmission. One week after the launch of the new Q7, on the 1st of next month, the New Audi Q8 will be introduced. The Q8 is the top-tier model newly added to Audi’s SUV lineup, the ‘Q series,’ and is a coupe-style SUV based on the Q7. These models are particularly attracting attention as premium SUVs, a market segment that has recently surged in popularity.

BMW recently released the plug-in hybrid electric vehicle (PHEV) model of the X3, the ‘New X3 xDrive30e,’ and the New 2 Series Gran Coupe. The New X3 xDrive30e is the first plug-in hybrid model of the X3, featuring a gasoline engine and a high-voltage lithium battery that combine efficiency and driving pleasure. The New 2 Series Gran Coupe is BMW’s first 4-door coupe model in the compact segment. Previously, BMW Korea canceled media unveilings and test drive events for the 1 Series and 2 Series due to concerns over the spread of COVID-19, but new model launches continue.

2020 Tiguan 4Motion Prestige (Photo by Volkswagen Korea)

Volkswagen, which introduced the large SUV Touareg last month, launched the new Tiguan this month. The existing lineup, centered on front-wheel-drive models such as the 2.0 TDI Premium and 2.0 TDI Prestige, has been expanded with the addition of the all-wheel-drive model ‘2.0 TDI 4Motion Prestige,’ completing a total of three lineups.

Japanese brands are also starting to launch new models again. Honda introduced the 2020 Accord Turbo and Odyssey to the domestic market, and in mid-month, Lexus RX450hL (3-row seats, long body) and Toyota Prius C Crossover were released simultaneously.

An industry insider said, “Initially, the imported car industry had so many planned new models that there was even a forecast that the most new cars in history would flood the domestic market this year,” adding, “Since the launch plans cannot be postponed indefinitely, they will gradually introduce new models to recover sales that have declined due to the impact of COVID-19.” He added, “Especially for models such as premium SUVs and large SUVs, which attract high market interest, missing the right timing could lead to losing competitiveness, so there is a strong atmosphere to actively resume new model launches centered on these lineups.”