Renault Korea said it had begun mass production of the Grand Koleos hybrid SUV at its plant in Busan in South Korea.
The South Korean Renault manufacturing subsidiary had been struggling with plunging volume in recent years as it had failed to keep up with increasing competition in the local market from other importers and from local automaker Hyundai Motor group. The company has also struggled with weak overseas demand for its aging models.
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The new Grand Koleos D-segment SUV is the first new model to be introduced at Busan in four years since the launch of the XM3. It is sourced in CKD form from Geely Auto in China which has become a key ally for Renault Korea.
The Grand Koleos, unveiled at the 2024 Busan Mobility Show last month, will be available with two powertrain options: hybrid, petrol turbo two wheel drive and petrol turbo four wheel drive (4WD). Local sales and deliveries are expected to begin in the next two months.
Renault Korea reported a 35% drop in global sales to 42,133 units in the first half of 2024, including a 10% decline in local sales to 11,073 units and a 41% plunge in overseas sales to 31,060 units.
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By GlobalData
