Renault Korea's new car contract numbers for this month have reportedly surged by about 40% compared to the previous month. This is attributed to the upcoming end of the special consumption tax reduction at the end of this month.
Renault Korea announced on the 13th that the new car contract numbers for all vehicle models have increased by approximately 40% compared to the previous month based on data from the previous day. The purchase rate of customers visiting Renault Korea showrooms nationwide was also recorded to have increased by 35% compared to the 12th of last month.
This is because the flexible rate of the special consumption tax applied to new car purchases will end on the 30th of this month. The current rate of 3.5% will rise to 5% afterward. The 70% reduction benefit on the special consumption tax for replacing old cars will also end at the end of this month.
To capitalize on demand seeking the benefits of the special consumption tax reduction, Renault Korea is offering purchase benefits by vehicle model. Customers purchasing the Renault Korea Grand Kolios or Arkana, SM6, or QM6 during this month can choose benefits worth between 500,000 to 600,000 won in options, accessories, or extended warranties. Alternatively, it is also possible to receive a free coupon for three engine oil exchanges.
Hwang Jae-seop, Executive Director in charge of sales and network at Renault Korea, noted, "As more customers visit showrooms to take advantage of the last special consumption tax benefits in June, the sales scene is also becoming lively," and added, "We are also making efforts to ensure that as many customers as possible can benefit from the special consumption tax reduction through production."