Renault’s global strategy is held in high regard. Analysts pointed to Renault’s model of taking advantage of niche and untapped markets as proof that to be a big player in the industry one need’s not have the US market as a top priority.
The Samsung SM5, which currently holds 23 per cent of market share in South Korea, will be replaced by a new model later this year |
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One such is South Korea and Renault's interests in Samsung which is preparing to launch the next-generation SM5 early next year, a model that Renault senior executive Georges Douin hopes will boost the carmaker’s market share.
“In 2003 we reached 11,000 units in sales and in terms of market share the SM5 holds about 23 per cent, so it’s doing well. The SM3 has stronger competitors, so it’s doing less well, but it still holds around 15 per cent.
“The next step is the replacement of the SM5, which will appear by the end of this year, and for me it will be a main asset for us over there. It is on time and I’m very happy with the product and it should bring us additional market share.”
In the six months to the end of June, though, Renault Samsung experienced a 32.1% downturn in sales (40,312 units) in Korea although this has to be set against a sharp drop in the market there which was down by 29%.
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