Up to 31.9% Discount... Imported Cars Enter Price Competition

[Asia Economy Reporter Kiho Sung] The imported car industry has started discount competition from the beginning of this year. The individual consumption tax reduction policy, aimed at resolving the consumption sentiment slump caused by the COVID-19 pandemic, has been extended, leading the imported car industry to engage in price competition to recover demand.

According to the new car purchase information platform 'Getcha' on the 17th, the BMW 2 Series Active Tourer, a minivan-style vehicle, is being sold at a 31.9% discount this month for 30.9 million KRW. The BMW 1 Series is being sold at 31.4 million KRW with a 20.3% discount applied.

Along with this, the Citro?n C5 Aircross, a compact mid-size sport utility vehicle (SUV), is available for purchase at 34.27 million KRW with a 13% discount applied.

In the compact SUV segment, the Audi Q3 and BMW X2 can be purchased in the low 40 million KRW range with discounts of 11% and 18.7%, respectively. The Volkswagen Tiguan Allspace is sold at 43.54 million KRW with a 12.4% discount, and the facelifted mid-size sedan Volkswagen Arteon is being sold at about 47 million KRW with a 20.2% discount.

Additionally, premium mid-to-large sedans such as the Jaguar XF, Audi A6, and BMW 5 Series are being sold at 50 million KRW in the mid-to-high range with discounts of 28.1%, 12%, and 12.9%, respectively. The mid-size SUV Q5 is also available for purchase in the 50 million KRW range with a 13% discount.

The Mercedes-Benz E220d 4MATIC AMG Line is receiving a 6.1% discount. The Volkswagen Touareg can be purchased for 71.85 million KRW with a 14.4% discount.

In the large sedan category, the BMW 730d xDrive DPE is available at about 24 million KRW cheaper with a 17.3% discount, and the full-change model Mercedes-Benz S-Class is selling S560e stock vehicles with about a 20 million KRW discount.

Jung Yucheol, CEO of Getcha, said, "January is usually not recommended for new car purchases, but the policies of companies and the government to relieve the consumption sentiment depressed by the COVID-19 pandemic are changing the situation," adding, "If you were thinking about buying a new car, purchasing in January 2021, when depreciation can be reduced, would also be good."