Hyundai Motor said Thursday it will launch a “rental car partnership special promotion” offering purchase incentives to help strengthen the competitiveness of new and small rental car companies.
The program includes eased discount requirements, a wider range of eligible models and larger discount amounts, as well as a rental-car-focused residual-value-guarantee financing product.
Hyundai said it expanded eligibility for discounts. Previously, incentives were available only to companies that bought at least 12 Hyundai vehicles in the year before purchase. Under the promotion, discounts apply regardless of the prior year’s purchase volume.
Hyundai also expanded eligible models from eight to 12 by adding the Staria and Genesis models — the G80, GV70 and GV80 — to the Tucson, Santa Fe, Kona, Ioniq 5, Ioniq 6, Sonata, Grandeur and Solati.
The company raised the maximum discount to 1 million won per vehicle to reduce the burden of buying new cars and improve fleet supply stability.
For the Tucson, Santa Fe, Kona, Ioniq 5, Ioniq 6, Sonata, Grandeur and Staria, Hyundai said it will offer 100,000 won off for one vehicle; 300,000 won for buying two to three at once; 400,000 won for four to five; and 500,000 won for six or more.
For the Solati, the discount is 200,000 won for one vehicle and 1 million won for buying two or more at once.
For Genesis models (G80, GV70, GV80), Hyundai said it will offer 200,000 won off for one vehicle; 400,000 won for two to three; 600,000 won for four to five; and 1 million won for six or more.
Separately, Hyundai said it will begin offering a “rental-car-focused residual-value-guarantee financing product” jointly developed with Hyundai Capital starting Monday.
Hyundai said installment rates for 24-, 36- and 48-month terms will be lowered by 0.3 to 0.8 percentage points from existing levels. At contract end, customers can return the vehicle, repay by making a lump-sum payment of deferred amounts, or extend the loan, it said.
Linked to Hyundai’s certified used-car business, the product is designed to sharply reduce residual-value risk and upfront operating costs for rental car companies, Hyundai said. It guarantees a used-car price of up to 61% of the new-car price when the vehicle is returned.
“In a changing rental car market, we strengthened a partnership support program so small operators and new companies can grow sustainably,” a Hyundai official said. “We will continue close cooperation with the broader rental car industry to support stronger competitiveness and improved customer service.”
* This article has been translated by AI.
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