April 25, 2024

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[THE INVESTOR] All 120 units of the Chinese SUV Kenbo 600 -- which began sales here last month as the first Chinese automobiles to be introduced in the Korean market -- have sold out, the distributor of the Chinese vehicle said on Feb. 15.

According to China-Korea Motor Co., the model’s exclusive local importer and distributor, contracts for the first round of the Kenbo 600 will be completed by this week. The company has placed orders for another 200 units.

 

The Kenbo 600. China-Korea Motor Co.

The SUV was officially launched on Jan. 18 and deliveries began on Feb. 1.

The Chinese SUV is marketed as a mid-size SUV that comes with a more affordable price tag than an average compact SUV.

Its local importer and distributor highlighted SsangYong Motor’s best-selling compact SUV Tivoli and Hyundai Motor’s iconic compact sedan Avante as models that compete with the Kenbo 600, during an official launch event last month.

The model comes in two trims: the modern trim, which is priced at 19.99 million won ($17,466), and the luxury trim at 20.99 million won.

According to China-Korea Motor, some 99 percent of customers chose to purchase the luxury trim, as there is a relatively low price difference between the two trims.

As for the customer base, individual buyers accounted for 65 percent of the first batch and corporate buyers 35 percent, the company added.

China-Korea Motor has set the company’s sales target for this year at 3,000 units.

To reach its goal, the local handler plans to introduce a compact SUV and a van by the end of the year as well as a pure electric vehicle model next year.

China-Korea Motor is also eyeing to enter the local car rental service and the car sharing markets to expand its presence.

By Kim Bo-gyung/The Korea Herald (lisakim425@heraldcorp.com)