Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Renault Korea expands sales into Latin America
Renault Korea's Grand Koleos SUVs are loaded for export to Mexico and Colombia at a port in Busan, Wednesday. Courtesy of Renault Korea
By Lee Min-hyung
Renault Korea is diversifying its export channels into Latin America, with the first shipment of its flagship Grand Koleos SUVs heading to Mexico and Colombia, the carmaker said Thursday.
According to the company, a total of 894 Grand Koleos vehicles were loaded for export to the two countries on Wednesday. The company also plans to gradually expand its export destinations to additional Latin American countries in the future.
The target nations for future exports include Brazil, Uruguay, Panama and the Dominican Republic.
In March, some Grand Koleos SUVs were preshipped to the Middle East before its full-fledged entry into the region.
The vehicle achieved immediate success in the Korean market following its debut last year. The Grand Koleos has since won multiple auto awards for its strong commercial value and unmatched safety features.
Renault Group identifies Korea as its strategic hub to drive its global exports. The Korean subsidiary of the French automaker runs a major production line in the nation’s southern port city of Busan.
The company is going all out to maximize its production capacity to meet surging demand for the vehicle. In January, the Busan factory completed building a dual production system capable of manufacturing not only vehicles with internal combustion engines, but also electric vehicles (EVs).
The manufacturing facility will also serve as a key base for the vehicle’s export to Latin America, the Middle East and Africa, according to the carmaker.
“Grand Koleos is a strategic model in Renault Group’s International Game Plan, a global initiative to launch eight new models outside Europe by 2027,” an official from Renault Korea said.
“The plan centers on five major production hubs in Korea, India, Latin America, Turkey and Morocco — with targeted exports to the Middle East, Latin America and Africa."
Renault Korea began selling the Grand Koleos in September last year, and the vehicle has since steadily gained popularity among customers here and abroad. The company's overall sales saw a significant rebound in April, rising 195 percent year-on-year, driven by solid demand for the Grand Koleos, which sold 4,375 units in that month.
The vehicle has received strong customer feedback for its robust body structure made with ultra-high-strength materials as well as its advanced safety and infotainment features, according to the carmaker.
The mid-size SUV recently won the highest ratings from the 2024 Korea New Car Assessment Program for its safety excellence.
The vehicle was developed under Renault’s group-wide “human-first” engineering philosophy.
“Korea is unarguably one of our most important strategic bases for exports,” the Renault official said.
“Our Busan plant will also enhance its identity as our hub for future mobility, as it will expand its production lineup from existing hybrids and gasoline-powered ones to EVs soon.”