“We will provide competitive cars that customers can access.”
Sasha Askidjian, President of Volkswagen Korea, stated this during a press conference celebrating the 1st anniversary of the ID.4 launch at Cafe 109 in Gapyeong, Gyeonggi Province on the 26th.
The global increase in interest rates and rising prices have created a difficult economic situation. The domestic economy faces challenges from the instability of the real estate market and price increases, putting additional pressure on the automotive market.
As of September this year, import vehicle sales amounted to 197,742 units, a slight decrease of 1.2% compared to the same period last year, which saw 200,210 units. Volkswagen, which continues to play a vital role in the import car market, has faced a significant decline with sales dropping by 30% from 10,056 units during the same period last year to 6,966 units. This drop highlights the struggles of major brands in the import market due to the economic downturn.
In response, Sasha Askidjian expressed confidence in the company’s electric vehicle, the ID.4. He remarked, “With interest rate increases and inflation, as well as instability in exports and the real estate market, the domestic automotive industry is facing difficulties.” He emphasized that “the competitive car that customers can access is the ID.4,” reflecting confidence in its value amid challenging economic circumstances.
Askidjian added, “The ID.4 benefits from government subsidies, and while the average interest rate for imported vehicles is around 7-8%, you can own a vehicle with rates in the 0% range. You can own an ID.4 for as low as 290,000 won a month.” He also noted that due to rising costs of car ownership, the brand is aiming to help reduce ownership costs by offering Kakao T Points.
Lee Sang-jin daedusj@autodiary.kr