Hyundai Santa Fe / Kia Sorento 2024

[Fellows]

@Kiroskyz 2.08% interest rate so low for Hyundai SF? In April signed KIA NIRO also Maybank 2.68%

[Kiroskyz]

On 6/7/2024 at 6:20 PM, Fellows said:

@Kiroskyz 2.08% interest rate so low for Hyundai SF? In April signed KIA NIRO also Maybank 2.68%

I think it's really dependent on bank promo rate at that time

[Icebird]

On 5/23/2024 at 6:01 PM, thebestbees said:

@Kiroskyz sorento will probably price their higher specs in between 260-280k and their lower spec just slightly below 260k… “ thanks “ to komoco’s pricing they can price it at premium. No reason to reduce their profit margins 

For Kia, is 260k list price (and can still be discounted) or actual price (no further discount)? Cos for Merc GLB, list price is also about 260 k but usual discount will bring to $24Xk.

[Infernolord]

with 2k discount only.

probably will increase price after this promo.

[thebestbees]

@Icebird are there any news on the new sorento? 

[Kiroskyz]

On 6/8/2024 at 5:58 PM, thebestbees said:

@Icebird are there any news on the new sorento? 

I asked kia but they told me end q3. 

[Icebird]

On 6/8/2024 at 3:52 PM, Infernolord said:

with 2k discount only.

probably will increase price after this promo.

Does Kia give good overtrade like Merc then?

[thebestbees]

@Icebird not that I know of 

[GTO-1]

On 6/8/2024 at 11:20 PM, Icebird said:

Does Kia give good overtrade like Merc then?

No.  They won't overtrade at all.  I know because I tried and they refused.  They also can offer a loan rate of 2.08% with Maybank for serious buyers.  But obviously there are minimums you need to agree with (e.g. 5 year term).

[Infernolord]

How the test drive? And drop in price ?

[GTO-1]

The car is nice.  It's definitely oriented towards more comfort and has quite light steering.  Very smooth, very insulated, very continental like.  But you can feel the weight compared to my current ride.  Don't expect MX5 handling (ironically, the manufacturer codename for the Santa Fe is actually MX5).  Power is more than sufficient for Singapore roads.  

SA's are being very firm on their offers.  No overtrade, no additional discounts, standard freebies (camera + car mat).  If you signed an ITP, they're offering an additional $1k on top of the $2k (total $3k), but it's not available any longer unless you put down the $10k during the ITP phase.  If you sign up now, you get the same ITP offer, les about $2k in extra's (i.e. you miss $1k in vouchers and $1k in cash discount).

Test drives are booked back-to-back.  They have a 4-hour waiting time for a test drive in the weekend.  

 

[GTO-1]

Some extra's I learned about calligraphy:

- No 13-speaker bose sound system as other markets (even on Calligraphy).  Instead it's a stock 8-speaker system.  Reason they didn't bring it in was due to price.

- Has emergency repair kit, but no spare tyre.  Australia's hybrid model has a spare tyre.  I checked if can retrofit, but it looks like they've filled half the mounting holes with filler, so it can't be retrofit.  While spare tyre not so important in Singapore, it is more important if you travel to Malaysia.

- Electrically operated steering column that sync's to the memory seats.

- They have the colour swatches at the dealership if you want to look. 

- Don't have to take trade in or financing from Komoco, but must take insurance.

Also base model hasn't yet been homologated yet.  Arrival of Calligraphy is mid-July.  

Edited June 10, 2024 by GTO-1

[Fellows]

On 6/10/2024 at 2:22 PM, GTO-1 said:

Some extra's I learned about calligraphy:

- No 13-speaker bose sound system as other markets (even on Calligraphy).  Instead it's a stock 8-speaker system.  Reason they didn't bring it in was due to price.

- Has emergency repair kit, but no spare tyre.  Australia's hybrid model has a spare tyre.  I checked if can retrofit, but it looks like they've filled half the mounting holes with filler, so it can't be retrofit.  While spare tyre not so important in Singapore, it is more important if you travel to Malaysia.

- Electrically operated steering column that sync's to the memory seats.

- They have the colour swatches at the dealership if you want to look. 

- Don't have to take trade in or financing from Komoco, but must take insurance.

Also base model hasn't yet been homologated yet.  Arrival of Calligraphy is mid-July.  

Come to SG, their premium sound speakers from Bose or harman kardon for KIA and Hyundai is always remove even for top spec. That so sad when other countries come with it. Same for HUD come into SG this is remove too in some of their model. 

 

[GTO-1]

On 6/10/2024 at 2:52 PM, Fellows said:

Come to SG, their premium sound speakers from Bose or harman kardon for KIA and Hyundai is always remove even for top spec. That so sad when other countries come with it. Same for HUD come into SG this is remove too in some of their model. 

 

I think Kia had Bose standard in their Sorento SX Tech Pack.  Also had HUD as standard in their sole trim level for hybrid.

To be fair I think Komoco's did spec in some things that other markets don't have.  For example the AU Calligraphy hybrid doesn't come with:

1) Electric operated steering column.

2) Two pin electricity point (which I think is pretty cool).

I know minor, but at least something.  And there are some things that are totally pointless in this car, like heated seats for four seats and heated steering wheel.  I know they can't remove these features, but what a waste.  

[Infernolord]

On 6/10/2024 at 2:14 PM, GTO-1 said:

The car is nice.  It's definitely oriented towards more comfort and has quite light steering.  Very smooth, very insulated, very continental like.  But you can feel the weight compared to my current ride.  Don't expect MX5 handling (ironically, the manufacturer codename for the Santa Fe is actually MX5).  Power is more than sufficient for Singapore roads.  

SA's are being very firm on their offers.  No overtrade, no additional discounts, standard freebies (camera + car mat).  If you signed an ITP, they're offering an additional $1k on top of the $2k (total $3k), but it's not available any longer unless you put down the $10k during the ITP phase.  If you sign up now, you get the same ITP offer, les about $2k in extra's (i.e. you miss $1k in vouchers and $1k in cash discount).

Test drives are booked back-to-back.  They have a 4-hour waiting time for a test drive in the weekend.  

 

Additional 1k discount? CoE dropped 5k and probably trending down. They said will adjust accordingly. Hmm... I guess they are v confident can sell.

 

 

[GTO-1]

On 6/10/2024 at 3:10 PM, Infernolord said:

Additional 1k discount? CoE dropped 5k and probably trending down. They said will adjust accordingly. Hmm... I guess they are v confident can sell.

 

 

Right now I think the perceived demand is higher than their stock.  I've been told over 100 ITP's, and their first shipments are sold out.  There was a 4 hour wait time on test drive on both days this weekend.

Guarantee the price will come down at some point, but they're going to try maximise every dollar of margin They can.  

Demand is also high in other markets like US and Australia.  Most are selling at MSRP or higher.  Plus the car generally has been getting rave reviews.  The only blemish is the ongoing gearbox issues with the 8 speed DCT (which SG doesn't have).  To be honest, if you're waiting for a sudden decrease in price, you'll probably be waiting a while.  Even with COE drop in last round, they decrease the price, but also decrease my trade-in value by same amount.  So net-net, I still have same loan+cash outlay even if CoE drop.  

I think we will see a real price drop in 6 months.  But who knows.  Trying to estimate the Singapore car market is like trying to estimate the stock market.  If I knew what was happening in both, then I wouldn't be shopping Hyundai. I would be shopping for a Ferrari, Lambo, Bentley, Rolls Royce together in one shot.

Edited June 10, 2024 by GTO-1

[Infernolord]

If they locked at 160. Your trade in value drop with the falling COE and they are making wider margin. Unless u hv locked your trade in value aldy.

[GTO-1]

Has anyone firmed up their booking yet?