'Sales Resumed' Sorento Hybrid Sells Well Even Without Tax Benefits

Nearly 4,000 Units Contracted on the First Day of Renewal

Sorento Hybrid (Photo by Kia Motors)

[Asia Economy Reporter Kim Ji-hee] Kia Motors has resumed contracts for the 4th generation Sorento Hybrid after five months. During the pre-contract period in February, over 12,000 units were contracted in just one day, confirming the demand for hybrid sport utility vehicles (SUVs). The Sorento Hybrid recorded nearly 4,000 contracts on the first day of this contract resumption as well.

According to industry sources on the 11th, 3,941 units of the Sorento Hybrid were contracted within one day of the contract resumption on the 9th. It surpassed 3,000 units within just one hour of the contract start, demonstrating high popularity.

This performance is significant considering it was achieved without the benefit of eco-friendly vehicle tax incentives. The Sorento Hybrid had previously halted contracts in February due to its fuel efficiency of 15.3 km/ℓ, which fell short of the 15.8 km/ℓ standard required for tax benefits. Kia had priced the vehicle anticipating government tax incentives, making a price increase inevitable compared to the previously announced price.

Although there are no eco-friendly vehicle tax benefits, the Sorento Hybrid meets the emission standards for the second class of low-emission vehicles, allowing it to qualify for various fee reduction benefits. These include a 50% discount on public parking fees (based on the Seoul metropolitan area) and at 14 airport parking lots nationwide, as well as exemptions from congestion charges depending on local governments.

Additionally, Kia has increased its company contribution to offset the price increase (approximately 1.43 million KRW) resulting from exclusion from eco-friendly vehicle tax benefits to maintain competitiveness. The price of the Sorento Hybrid ranges from 35.34 million to 41.62 million KRW depending on the trim. Compared to the pre-contract price announced with a 3.5% individual consumption tax, the price has increased by about 490,000 KRW. Compared to the normal price without tax benefits in February, it is priced 910,000 KRW lower.

The Sorento Hybrid combines a 1.6ℓ Smartstream gasoline turbo hybrid engine with a drive motor to deliver a system maximum output of 230 PS and maximum torque of 35.7 kgf·m.