April 19, 2024
Automobiles
Renault Samsung aims for 10% share in LCV market
[THE INVESTOR] Renault Samsung Motors on Oct. 16 launched its Master van in Korea, with an aim to achieve 10 percent of the domestic light commercial vehicle market by 2020.
The country’s LCV market of 250,000-260,000 units a year is currently dominated by Hyundai Motor’s Porter and Starex and Kia Motors’ Bongo. The three models each have 1-ton cargo capacity, a Renault Samsung spokesman said.
The 1.3-ton Renault Master comes with a three-year or 100,000-kilometer powertrain and auto components warranty, the company said in a statement.
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The Master S version is priced at 29 million won (US$26,000) and the Master L version carries a price tag of 31 million won, the statement said.
“The van is unrivaled compared to the domestic rivals in terms of safety features though it sells at a higher price,” the spokesman said.
It is equipped with a lane departure warning and hill start assist system, and its fuel efficiency ranges from 10.5 kilometers per liter to 10.8 kpl for the different models.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
