Jump to content
Create New...
  • William Maley
    William Maley

    German Luxury Brands Are Cheaper Than The Korean Luxury Vehicles

    By William Maley

    Staff Writer - CheersandGears.com

    May 21, 2013

    This maybe somewhat hard to believe, but German luxury models are cheaper than their Korean counterparts in South Korea. For example, a BMW 528i is around $64,000 in South Korea while Kia's flagship K9 is around $76,400. A difference of $12,400. Consumers in South Korea are taking notice of this and are going towards the Germans.

    Why are the German vehicles much cheaper? Lowered tarrifs. Thanks to a trade pact introduced back in 2011, duties on European products dropped from 8 to 3.2 percent. This means automakers such as BMW, Audi, and Mercedes-Benz have seen an sales increase of 25 percent in the first quarter. Meanwhile Hyundai saw its share in luxury vehicles drop 4..7 percent.

    “Customers who were loyal to the brand for over 20 years are breaking away. It shows that imported brands are now perceived as something accessible,” said Kim Pil Soo, professor of automotive engineering at Daelim College in South Korea and an adviser to the government.

    Source: Bloomberg

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    There are no comments to display.



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search