April 19, 2024

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[THE INVESTOR] Volkswagen Group said on April 18 it will launch five vehicles this year in Korea to regain customer trust.

The German carmaker launched the new Passat GT sedan in March and will begin sales of the new Tiguan SUV in Korea, with three other models scheduled to be gradually launched going forward, according to VW Korea.

To boost sales in Korea, the company has set prices at 43 million won (US$40,000) to 53 million won for the Passat GT model, which is actually lower than the sticker price of 54-66 million won for the same cars sold in Germany, VW Korea Managing Director Stefan Krapp said during a press conference.

The prices for models of the Tiguan SUV are also set at a competitive 39-48 million won, he said.

As for this year’s sales target, the executive expected demand for the Tiguan SUV to be on par with that reached in 2015 if the carmaker’s efforts to regain trust in the company makes headway.

The other three models are the Passat sedan; the Tiguan Allspace SUV, which is more spacious than the conventional Tiguan; and the four-door Arteon coupe, the company said.

Asked if Volkswagen Group has plans to add electric vehicles to its Korean lineup, he said it is closely monitoring market trends and is ready to jump into the “potential” market when conditions are ripe.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)