In a bold move to grab the attention of European buyers, South Korean automaker KGM has slashed prices on its popular SUVs.
Facing fierce competition from an influx of electric and hybrid vehicles, KGM is making affordability its new selling point by offering significant discounts on its Korando and Torres models.
Significant Discounts Make KGM SUVs More Affordable
Depending on the model and country, shoppers can now find KGM’s Korando and Torres SUVs for up to €5,000 less than before.
For example, in Germany, the Korando starts at €23,990 with a turbocharged 163-horsepower gasoline engine paired with a manual gearbox.
The newer Torres SUV is priced from €28,990 in its base trim, featuring a 1.5-liter turbocharged engine.
Extra Incentives Sweeten the Deal for Buyers
Dealers aren’t stopping at just lower prices. Many are throwing in perks like extended warranties, free maintenance for up to three years, and trade-in bonuses to make the offer even more appealing.
These extras are part of KGM’s plan to attract buyers looking for reliable, practical vehicles packed with modern features but without the high price tag.
Modern Safety and Tech Features Come Standard
Both the Korando and Torres have been upgraded with several standard features that today’s drivers expect.
Autonomous emergency braking, lane-keeping assist, and rear parking sensors come as standard safety equipment.
On the tech side, the SUVs include digital instrument displays and seamless smartphone connectivity with Android Auto and Apple CarPlay.
KGM Responds to Rising Competition from Chinese Automakers
Analysts believe KGM’s price cuts are a direct reaction to the growing presence of Chinese car manufacturers in Europe.
These newcomers offer similarly equipped vehicles at competitive prices, forcing established brands like KGM to rethink their strategies.
By lowering prices and adding value, KGM aims to protect its market share in a crowded and fast-changing segment.
Potential Expansion of Discounts Beyond Europe
For now, these price reductions apply only to Europe.
However, experts think that if this strategy proves successful, KGM might roll out similar discounts in other key markets such as Latin America and the Middle East.
KGM’s Strategy: Affordable Quality in a Shifting Auto Market
With this new pricing approach, KGM is positioning itself not just as a serious player in the compact and mid-size SUV market but also as a brand that offers quality vehicles at a cost-effective price.
As the global automotive landscape continues to evolve, KGM is betting on value and practicality to keep its customers coming back.