Renault Samsung aims to win 10 pct of light commercial car market by 2020

SEOUL, Oct. 16 (Yonhap) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., on Tuesday launched its Master van in Korea, with an aim to achieve 10 percent of the domestic light commercial vehicle (LCV) market by 2020.

The country’s LCV market of 250,000-260,000 units a year is currently dominated by Hyundai Motor Co.’s Porter and Starex and Kia Motors Corp.’s Bongo. The three models each have 1-ton cargo capacity, a Renault Samsung spokesman said.

The 1.3-ton Renault Master comes with a three-year or 100,000-kilometer powertrain and auto components warranty, the company said in a statement.

The Master S version is priced at 29 million won (US$26,000) and the Master L version carries a price tag of 31 million won, the statement said.

“The van is unrivaled compared to the domestic rivals in terms of safety features though it sells at higher prices,” the spokesman said.

It is equipped with a lane departure warning and hill start assist system, and its fuel efficiency ranges from 10.5 kilometers per liter to 10.8 kpl for the different models.

From January to September, Renault Samsung sold 171,895 vehicles, down 16 percent from 204,840 a year earlier. Renault has an 80 percent stake in Renault Samsung.

Its current lineup includes the SM3 compact, the all-electric SM3 Z.E. sedan, the QM3 small SUV, and the SM5, SM6 and SM7 sedans.

Renault’s Master van (Yonhap)