An Alpine A110 R Ultime automobile is displayed in the course of the media day on the 2024 Paris Auto Present in Paris, France, Oct. 14. Reuters-Yonhap
Alpine’s A110 sports activities coupe out there on the market by finish of 2024
By Lee Min-hyung
A bunch of worldwide carmakers — Renault, Volkswagen, Stellantis and Geely — are contemplating bringing their auto manufacturers to Korea amid the rising buying energy of native prospects and the rise out there share of imported automobiles right here, in line with information and business officers, Sunday.
Final month, Alpine CEO Philippe Krief made public its plan to faucet into the Korean market in 2026. The sports activities automobile model is beneath the umbrella of Renault Group. The corporate plans to promote 20 restricted A110 flagship sports activities coupes right here by the top of this 12 months forward of its full-fledged penetration right here.
Renault Korea is quickly bouncing again within the Korean market with its new Grand Koleos premium SUV. Gross sales for the automobile surged by 340 % in October from a 12 months earlier.
Volkswagen Group can also be rumored to be introducing its inexpensive model, Skoda, to Korea, in a bid to make up for Volkswagen Korea’s falling automobile gross sales. The native subsidiary of the German automaker offered some 6,000 automobiles between January and September, and the numbers for its 2024 annual auto gross sales listed below are extensively forecast to fall under 10,000 for the primary time in 5 years.
This isn’t the primary time that the carmaker has thought of launching the Skoda model right here. In 2015, the model ready for its debut right here, however the plan was protracted after Volkswagen Group was mired within the world emission scandal, higher generally known as Dieselgate.
Individuals stroll in entrance of a Zeekr 009 electrical automobile being showcased at SXSW Sydney, in Sydney, Australia Oct. 14. Reuters-Yonhap
Geely Auto Group’s premium electrical automobile model, Zeekr, can also be on its solution to making its debut right here round 2026. The carmaker is looking for dealerships right here, and just lately appointed a Korean gross sales knowledgeable as its head for the native workplace.
All eyes are additionally on whether or not Stellantis Group’s Alfa Romeo high-performance luxurious automobile model will likely be out there on the market right here. No specifics have to this point been confirmed, however the rumor continues to floor on Korean prospects’ robust buying energy, evidenced by the strong gross sales of German luxurious automobiles.
The rising choice of native prospects for imported automobiles can also be thought of one other key issue, attracting extra international auto manufacturers right here.
Based on information from the Korea Car Importers & Distributors Affiliation, greater than 270,000 imported vehicles have been offered right here final 12 months, accounting for nearly 20 % of the whole automobile market share. Again within the early 2000s, just some 20,000 imported automobiles have been offered in Korea.
“Costs for imported automobiles have develop into extra inexpensive up to now few a long time, which enabled extra prospects to think about buying abroad vehicles,” an official from a carmaker mentioned. “On prime of that, costs for home auto manufacturers have sharply elevated, so imported vehicles have been capable of achieve value competitiveness towards homegrown rivals.”
