Share this article

Renault Samsung Motors confirmed on Tuesday it would go ahead with the launch of the redesigned XM3 SUV in South Korea next week as it needs to revive severely depressed sales.

The company, owned 80% by Renault, reported an almost 48% drop in global sales to 13,290 units in the first two months of 2020 while its domestic sales were down 21% to 7,976 units.

The automaker's sales performance was affected by weak global demand and also the outbreak of the COVID19 coronavirus which held back production at its Busan plant for four days in February.

The new XM3 will go on sale officially on Monday 9 March. It will be available with the TCe260 1.3-litre turbocharged petrol engine coupled to a seven speed, dual clutch transmission and, alternatively, with the GTe 1.6-litre petrol engine combined with a CVT transmission.

Both engines were developed by Renault and Daimler, the company confirmed.

New XN3 prices start at KRW17m (US$14,322) for the 1.3, rising to KRW25m for the 1.6 with all optional extras.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData