Jeep New Compass doubles down on price competitiveness
Jeep New Compass / Courtesy of Stellantis Korea
By Kim Hyun-bin
Global uncertainties are on the rise with inflation, the Russia-Ukraine war and rising raw materials prices, which are all taking a toll on global manufacturing, especially the automotive industry.
In this regard, Stellantis Korea is aiming for price competitiveness through the introduction of the Jeep New Compass, which aims to target the MZ generation, setting a reasonable price that is no different from that in the U.S. At the same time, this new offering possesses an enhanced interior that better appeals to the highly competitive Korean market.
The New Compass was launched at a competitive price. In the case of the Compass S 2.4 AWD, it is sold for $42,850 in the U.S., and with the current exchange rate of about 1,300 won/dollar, it comes out to 55.7 million won. This is only a difference of 700,000 won from the U.S. selling price. The limited 2.4 AWD trim is also sold for $40,360 in the U.S. market with the same specifications, which is a difference of 1.93 million won from the U.S. sales price.
Interior of Jeep New Compass / Courtesy of Stellantis Korea
The company was able to introduce new cars at the local price level by suppressing the factor of price increases as much as possible by improving the efficiency of management and logistics operations.
The New Compass is armed with changes such as a newly designed interior, the application of high-quality materials and an improved finish.
In addition to the price, the waiting period, which has emerged as the biggest issue when purchasing a new car due to global supply chain issues, has been optimized.
Recently, automakers are passing on the burden of price increases caused by delays in shipments to consumers.
Stellantis Korea plans to enhance customer satisfaction by implementing its immediate shipment system that is based on accurate and prompt demand forecasting.