Kia Offers Huge Discounts In China To Attract Customers
In an effort to boost sales of older models before the release of newer vehicles, Kia Motors has began offering discounts of up to 40% on some of its automobiles in China.
Kia has sold 6.3% fewer vehicles in China from January to July. One of Kia’s main competitors in China–Volkswagen–has taken some of Kia’s customers by reducing prices of popular VW models. Kia sales were also reportedly hurt by the Middle East Respiratory Syndrome (MERS) outbreak this year in South Korea.
Kia officials have said this was the first time it slashed vehicle prices in China by 10% or more.
Kia will be releasing its new K5 sedan later this year in China, along with the 2016 Kia Sportage. The all-new Sportage comes with the choice of a 2.4-liter inline four-cylinder engine or a more powerful 2.4-liter turbocharged inline four-cylinder engine.
To make room for the new Sportage, Kia has reduced the price of the 2015 Sportage in China by 9.4 million won.
News Source: Korea Times