Carmakers Lower Prices on Old Models as New Models Roll Out

Carmakers have rolled out a series of new models while simultaneously cutting the prices of old models ahead of Chuseok or Korean Thanksgiving.

Renault Samsung on Tuesday released the new SM7 Nova, a partly modified version of the full-size luxury sedan.

On the same day, GM Korea started selling its 2015 Chevy Malibu mid-size sedan with a diesel engine.

Marking its 60th anniversary, Ssangyong launched the Rexton W SUV and Korando Turismo.

To stay competitive with new cars, some carmakers are offering discounts on old models.

Kia Motors has reduced the price of the old Sorento SUV by W1.5 million and K7 by W200,000. The 2013 Hyundai Grandeur is now W2 million cheaper, while GM Korea is offering a W1.5 million discount on the 2014 Alpheon. 

englishnews@chosun.com / Sep. 03, 2014 10:08 KST