Hyundai Motor Co., the country's largest carmaker by sales, has cut the prices for its i40 models to boost sales amid a prolonged economic slowdown, the company said Thursday.
For this year's models, Hyundai Motor said in a statement that the prices of the i40 wagon and i40 sedan have been slashed by up to 1 million won ($880) starting Thursday.
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Hyundai i40 wagon (Yonhap file photo) |
After the price cuts, the 2.0-liter gasoline-powered i40 wagon and sedan are selling at 24.2 million won to 26.6 million won each.
The 1.7 diesel-fueled i40 wagon and sedan carry price tags between 26.7 million won and 29.1 million won, the company said.
In the January-March period, Hyundai's passenger car sales fell 2.9 percent to 696,000 units from 739,000 autos a year earlier, it said.
Its net profit plunged 21 percent in the first quarter to 1.406 trillion won from 1.768 trillion won a year ago due to the won's strength and declining sales in China. (Yonhap)
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