GM Korea cuts All New Cruze prices to catch up with competitors

By KH디지털2

Published : March 9, 2017 - 10:46

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GM Korea Co. said Thursday it has lowered the price of its new compact car amid the delay in the production and delivery of the vehicles to address defective airbag parts.

The South Korean unit of USautomaker General Motors Co. cut the price range of the All New Cruze models to 16.9 million won ($14,616) and 23.4 million won, down from their earlier price range of 18.9 million won and 24.7 million won.

(Yonhap)

The original price tags were a bit higher than their competitors, Hyundai Motor Co.'s Avante and Kia Motors Corp.'s K3.

GM Korea had a record year in 2016 helped by the All New Malibu midsize sedan launched in May, with its local market share reaching more than 10 percent for the first time in nearly a decade.

"We've decided to lower the price tags by up to 2 million won as we are trying to listen to what the customers are saying," a GM official said. "We expect the All New Cruze will generate a sensation in South Korea just like the case in the United States."

GM sold 35,316 All New Cruze cars in the USfor the first two months this year, becoming the third biggest selling compact car only after Honda Motor Co.'s Civic with 50,134 and Toyota's Corolla with 45,520. Hyundai Motor's Avante, sold as the Elantra in the US, came fifth with 29,139.

GM Korea cuts All New Cruze prices to catch up with competitors

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