Saturday, March 11, 2006

Korean Car Wars: Incentives Korean Style

I'm always looking at the domestic Korean car's a list of promotions to boost sales in Korea

South Korean carmakers went into a marketing war this month to fight the slumping domestic demand, giving discounts of up to $6000 and extending the term for free maintenance service.

GM Daewoo Auto & Technology Co. cut the price of its Statesman large sedans for those who are paying in regular installments and another $3000 off for cars that were brought into the country before September last year.

Current owners of GM Daewoo cars can pay $400 less for the Statesman and get an additional discount of $500 by using an Auto Save credit card issued by the Industrial Bank of Korea.

Kia Motors Corp. expanded its drawback to all models this month. A $200 discount is given for the new Lotze midsize which was released in November. The popular Sportage sport-utility vehicle is also marked down by $100 won for the first time. Other models are subject to discounts of up to $900.

Hyundai Motor Co. is offering a $200 discount for the new Santa Fe for the first time as well. The nation's largest automaker cut prices by between $100 and $500 off for most vehicles except for the most popular Sonata and Grandeur [Azera].

Renault Samsung Motors Co. provides rollbacks of $200 for the SM5 midsize and between $300 and $500 for the SM7 sedan.
{the SM5 and SM7 are trumped up Nissans].

..This is interesting...
Special promotions targeting certain occupations are also on the rise.

Teachers or school staff members who buy a Renault Samsung SM3 can pay $200 less this month with the beginning of a new semester. The carmaker gave $300 discounts for soldiers and police officers in May and June last year around Memorial Day on June 6. [ The SM3 is Renault Samsung low end car].

Our marketing strategy of focusing on a selected group of customers for each season has shown significant effects, said a Renault Samsung official.

Kia Motors gives $200 discounts for doctors who buy an Opirus large sedan and school staff members who purchase a minivan.

All automakers are providing a rollback for those who have recently acquired a driver's license because the brand of a first car tends to decide their preference for a lifetime.

No. 2 and No. 3 carmakers chasing Hyundai are trying to win customers' faith in their quality.

GM Daewoo lengthened its Tosca Promise Program to the end of this month, allowing those who sign up for the newly-launched midsize to exchange their cars or get a refund if they are not satisfied with the vehicle. The opportunity is given within 30 days after delivery or before driving 1,500 kilometers or more.

Kia Motors also extended the terms for free maintenance service.

Those who buy a Kia car (trucks and buses excluded) by June will get engine and powertrain repair services for five years or a mileage of 100,000 kilometers, up from three years or 60,000 kilometers.

Luring with gifts is another trend.

Here's one for you...
Kia presents complimentary endoscope checkup for those who buy a Lotze this month to highlight the car's hidden performances such as the engine, transmission and fuel economy.

Instead of giving discounts, Ssangyong Motor Co. invites 125 buyers of the New Chairman luxury sedan to the Don Giovanni opera this month.

The nation's No. 4 carmaker is adding a free front passenger airbag and an anti-lock brake system featuring electronic brake force distribution worth 1.56 million won for customers of the New Rexton SUV. Curtain airbags worth up to $500 are given free of charge to those who buy a Kyron or an Actyon.

Renault Samsung gives digital cameras that can play MP3 music to customers of the SM3 and Toyota Motor Korea presents LS430 customers with a family trip package to Jeju Island.

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