Mitsubishi making 2nd stab at Korean market
Mitsubishi Motors is finally returning to the Korean market. The Japanese carmaker said yesterday it signed a partnership with CXC Motors to distribute its vehicles in the country.
Mitsubishi also unveiled its RVR small crossover vehicle at the Kintex center in Goyang, Gyeonggi, for the first time.
“Korea is a fast-growing market, and I believe it will be a good opportunity for us,” Mitsubishi President Osamu Masuko told the press. “There is a lot of competition, but if we continue to introduce a series of high-quality products and set up a strong repair services network, I believe we can succeed.
“Korea is a strategic market through which we are going to raise our brand’s recognition in Asia,” he said.
Cho Hyun-ho, chairman of CXC, the official distributor of the Mitsubishi brand, said the company wants to become the most recognized and best-selling foreign brand in Korea, as well as the automaker that delivers the highest level of customer satisfaction.
Cho is one of the grandsons of late Hanjin Group founder Cho Joong-hoon. Hanjin Group is the country’s joint-leading transportation group, along with Korean Air.
Mitsubishi also unveiled its Lancer and Lancer Evolution sports sedans, the Outlander and Pajero sport utility vehicles, and the L200 pickup truck.
The RVR is equipped with a 2-liter engine and has a fuel efficiency rate of 12.8 kilometers per liter (30 miles per gallon). It is priced at 31.9 million won ($28,330) for the two-wheel drive version and 34.9 million won for the four-wheel drive.
“In the near term, we will launch Mitsubishi’s electric cars, such as the i-MiEV and SUV-PHV, a plug-in hybrid, in the Korean market,” Cho said.
CXC has opened two dealerships in Seoul. It aims to sell 900 vehicles this year.
By Limb Jae-un [email@example.com]
More in Industry
Hyundai Heavy confirms bid to buy stake in Doosan Infracore
It's a wrap
Joining hands for MOU
Third-generation family members take key roles at LS Group