Stellantis Korea CEO Bang Sil speaks throughout an interview with The Korea Occasions on the carmaker’s headquarters in Seoul, Nov. 20. Courtesy of Stellantis Korea
Stellantis Korea is able to make long-awaited strides, after the carmaker spent the previous 12 months overcoming exterior headwinds and fully revamping its dealership community, CEO Bang Sil mentioned throughout a current interview.
Bang, who took up the place in February 2024, has moved for radical reform with a particular give attention to monetary construction to emphasise progress.
In keeping with Bang, 2026 will likely be a “golden 12 months” for Stellantis Korea, having spent the previous two years laying the groundwork essential to considerably develop its automobile gross sales.
“Quite a lot of exterior headwinds in politics and the economic system has had a major affect on our gross sales this 12 months, however after overcoming such dangers, we can give attention to gross sales of our strategic flagship fashions subsequent 12 months,” she instructed The Korea Occasions in the course of the interview on Nov. 20.
The challenges included the steep rise within the won-dollar trade price and ever-rising uncooked materials costs as a consequence of modifications in U.S. tariff insurance policies below the Donald Trump administration. As Stellantis Korea depends on imports, the strengthening greenback in opposition to the Korean received resulted within the rise of its automobile costs right here.
The Peugeot 3008 hybrid SUV / Courtesy of Stellantis Korea
Regardless of these points, the highest govt has carried out main work to develop engagement with prospects below the Stellantis Model Home technique, which mixes the gross sales and promotional networks of its two flagship manufacturers — Jeep and Peugeot.
“There have been 4 Stellantis Model Home showrooms in 2024, however now there are 10, and we’ll improve it to 13 by the tip of subsequent 12 months,” she mentioned. “The transfer is aimed toward rebranding the id of Stellantis Korea, thereby increasing automobile gross sales from the manufacturers.”
Bang is an skilled in advertising and public relations, having labored at world automakers comparable to Volkswagen Korea and Renault Korea as a key govt in control of the manufacturers’ general promotional actions for native prospects.
“We place an even bigger give attention to monitoring what number of prospects go to our showrooms, slightly than sticking to the variety of automobile gross sales, as sustainable progress is far more necessary for us,” Bang mentioned.
Stellantis Korea can also be present process a serious transition towards electrification. This 12 months, the corporate centered on maximizing gross sales of its Peugeot 3008 hybrid SUV as a part of a broader shift to eco-friendly mobility.
Stellantis Korea plans to launch all-electric 3008 SUVs in addition to hybrid and electrical variations of its 5008 giant SUVs subsequent 12 months in a transfer to soak up rising electrical automobile (EV) demand from prospects in additional numerous age teams.
“The most important problem for us is to defend their value degree for purchasers right here within the face of the strengthening greenback and the rising prime prices,” she mentioned. “Now we have to take care of acceptable costs for our prospects, whereas on the similar time making certain worthwhile progress in step with the coverage drive from our headquarters, which is rarely a straightforward process.”
Jeep Korea’s Gladiator pickup truck / Courtesy of Stellantis Korea
Main gross sales rebound for Jeep
Stellantis Korea has excessive hopes for reaching a serious gross sales rebound for Jeep, with a deliberate launch of its new Grand Cherokee subsequent 12 months. The carmaker was scheduled to launch a facelifted model of the flagship SUV in Korea this 12 months, however plans have been delayed to subsequent 12 months.
“SUVs are crucial phase for gross sales in Korea, with prospects’ rising choice for the automobiles,” Bang mentioned. “Now we have but to repair the worth for them right here, however as soon as we will provide it at an affordable value, the Grand Cherokee will function a serious gross sales driver for us subsequent 12 months.”
Stellantis Korea will give attention to three strategic fashions — the Wrangler, Gladiator and Grand Cherokee — for Jeep gross sales in 2026.
In keeping with information from the corporate, the variety of Jeep automobile gross sales stays virtually twice as excessive as that of Peugeot.
Stellantis Model Home in Busan / Courtesy of Stellantis Korea
Mounted-price system
Stellantis Korea is on observe to reinforce the transparency of auto costs by adopting a fixed-price gross sales mannequin. Beginning this 12 months, the corporate launched the mannequin for Peugeot by halting standard promotional campaigns for dealerships.
Bang mentioned it’s going to take extra time for Korean prospects to just accept the brand new mannequin, however in the long term, it’s a step in the suitable course.
“Beneath the brand new gross sales mannequin, sellers wouldn’t have to battle to clear their stock annually and provide promotional campaigns,” she mentioned.
“Stellantis Korea will take duty for the year-end stock. Even when some sellers could obtain smaller margins with the revamped gross sales system, they will focus extra on the gross sales themselves, which we imagine will construct a wholesome atmosphere for sellers. This may also be good for purchasers, as they will belief our costs.”
