South Korea's Renault Samsung unveils new model

25th January 2005, Comments 0 comments

SEOUL, Jan 25 (AFP) - Renault Samsung, the South Korean unit of French car maker Renault SA, unveiled a new SM5 sedan model on Tuesday in an effort to boost its share of a slumping domestic market.

SEOUL, Jan 25 (AFP) - Renault Samsung, the South Korean unit of French car maker Renault SA, unveiled a new SM5 sedan model on Tuesday in an effort to boost its share of a slumping domestic market.

The car is based on a new platform and represents a design makeover of the firm's 7-year-old SM5, although it retains the popular brand name, the car maker said.

The new SM5 with a 2,000-cc engine is priced from KRW 17.7 million (EUR 13,145, USD 17,045 dollars) to KRW 21.1 million (EUR 15,660, USD 20,460), it said.

Car manufacturers in South Korean have upped competition by launching a series of new models recently following a fall in domestic sales linked to high oil prices and weak consumer sentiment.

Renault Samsung said it had captured 25 percent of the mid-size domestic sedan segment in 2004

The firm last month introduced a bigger SM7 model with either a 3,500-cc or 2,300-cc engine.

Renault Samsung began operations in 2000 when Renault SA took over Samsung Motors, then a loss-making unit of Samsung Group.

© AFP

Subject: French News

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