SEOUL — South Korea’s imported car market is currently at the center of a heated discount war. As brands head into the fourth quarter, a crucial period for hitting year-end sales targets and clearing inventory, promotional offers have soared to their highest levels this year, with some discounts reaching over 30%. This aggressive price competition is reshaping the market landscape, making premium imported vehicles more accessible to consumers.
According to data from the new car purchasing platform Getcha and various dealerships, Jeep is leading the charge with an unprecedented 32.1% discount on its new electric SUV, the Avenger. This translates to a massive saving of about 17 million Korean Won (KRW). The discounted price for the Avenger Longitude trim, originally 52.9 million KRW, drops to an attractive 35.9 million KRW, making it even more affordable than many comparable domestic electric vehicles. Beyond the Avenger, Jeep is also offering significant discounts on other popular models, including a 22.2% discount on the Grand Cherokee 4XE and up to 8.3% off the Wrangler.
Mercedes-Benz and BMW, the two perennial leaders in the Korean imported car market, are not holding back either. Mercedes-Benz has boosted its discounts, offering up to 18.7% (around 14 million KRW) off on some trims of its flagship E-Class. The E200 Avantgarde trim, with a list price of 75 million KRW, is now available for 61 million KRW. Additionally, discounts on the popular GLE SUV reach up to 10%, depending on the trim.
In response, BMW is fighting back with its own substantial promotions. The 5 Series is being offered with a discount of up to 12.9% (around 9 million KRW). With the discount, the real purchase price for the 520i Package 2 drops to around 60.8 million KRW. Its electric counterpart, the i5, is also seeing a hefty discount of up to 18.3%, or about 17 million KRW.
Audi is also participating aggressively in the promotional frenzy. The electric SUV Q4 e-tron is being sold with up to a 20.8% discount, which amounts to about 14.65 million KRW. Even Audi’s flagship large sedan, the A8, has seen its discount rate climb to a remarkable 18.0%, a savings of nearly 29.23 million KRW.
These heightened discounts are a strategic move by imported car brands to meet their annual sales targets and clear out existing inventory before the year-end. The fourth quarter is historically a peak sales season, with a rush of new model releases and aggressive promotions that fuel intense competition.
According to the Korea Automobile Importers & Distributors Association (KAIDA), the imported passenger car market grew by a healthy 13.3% year-over-year through August, with a total of 192,514 units sold. The cumulative sales ranking by brand through the end of August shows BMW at the top with 51,228 units sold, followed by Mercedes-Benz (41,379 units), Tesla (34,543 units), Lexus (10,212 units), and Volvo (9,095 units). The current discount frenzy suggests that this positive sales momentum is likely to continue into the final months of the year, potentially setting new records for imported car sales in South Korea.
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