Buy Santa Fe, get Accent free: How dealers in this country are luring buyers

Free cars and down payments as low as $20 a vehicle are up for grabs in the Philippines as dealers seek to recover from a record drop in sales brought on by the coronavirus pandemic.

Newly assembled Toyota Vios sedans are seen at a stockyard of the Toyota Philippines manufacturing plant in Sta Rosa, Laguna, south of Manila August 11, 2014. (File photo) (REUTERS)
Newly assembled Toyota Vios sedans are seen at a stockyard of the Toyota Philippines manufacturing plant in Sta Rosa, Laguna, south of Manila August 11, 2014. (File photo)

Kia Motors Corp. Picanto hatchbacks are available for an upfront payment of just 1,000 pesos ($18), while select customers can make down payments of 18,000 pesos for K2500 commercial trucks, the automaker’s unit in the Philippines said in a statement.

Also Read : Several Chinese cities launch 'Get paid to buy cars' scheme

A Hyundai dealership in the capital region is offering a free Accent or Reina sedan, which retails for at least 683,000 pesos, for every purchase of its 2.5-million-peso Santa Fe SUV this month, according to a report by online car magazine Top Gear Philippines.

San Miguel Corp., the local BMW distributor, also slashed prices of its luxury 5, 6 and 7 Series models by roughly a third this month, according to its Facebook page.

Strict stay-at-home restrictions in the Philippines from mid-March and a record rise in unemployment resulted in an 85% plunge in sales in May from a year earlier to 4,788 vehicles. In April, the sales figure was just 133 units, an unprecedented low according to data compiled by Bloomberg.

First Published Date: 10 Jul 2020, 11:02 AM IST
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