BMW Korea lures Young Customers with Reasonable Pricing

BMW Korea is setting a new price strategy for its cars, mainly to lure more young consumers.

Last week, BMW started selling its special edition “320i” models at reasonable prices. It is basically to capture the customers who seek for practicality in purchasing new vehicles. BMW Korea Chief Executive Kim Hyo-joon said, “We expect the special edition will be popular among youngsters who go for practicality.”

Though BMW has retained the desirable performance of the original model, the special edition comes out with several additional features, including the cruise control device and anti-glare EC interior mirror.

Based on an article in koreatimes.co.kr, “This cheaper option brought the price of the 320i special edition down to 41.8 million won ($46,187), some 3.4 million won lower than the original model priced at 45.2 million won.”

This strategy of lowering down prices is not solely adopted by BMW but by other foreign-made car dealers as well, as they seek to attract the interest of South Korean drivers.

According to the Korea Automobile Importers & Distributors Association (KAIDA), the sale of imported cars reached 4,984 units last October. That would mean the highest in a single month, showing that the strategy is definitely effective.