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.
INTERVIEW Stellantis Korea ready for growth after overcoming external headwinds: CEO
Stellantis Korea CEO Bang Sil speaks during an interview with The Korea Times at the carmaker's headquarters in Seoul, Nov. 20. Courtesy of Stellantis Korea
By Lee Min-hyung
Jeep, Peugeot set to achieve sales rebound with new strategic models
Stellantis Korea is ready to make long-awaited strides, after the carmaker spent the past year overcoming external headwinds and completely revamping its dealership network, CEO Bang Sil said during a recent interview.
Bang, who took up the position in February 2024, has moved for radical reform with a special focus on financial structure to emphasize growth.
According to Bang, 2026 will be a “golden year” for Stellantis Korea, having spent the past two years laying the groundwork necessary to significantly expand its vehicle sales.
“A number of external headwinds in politics and the economy has had a significant influence on our sales this year, but after overcoming such risks, we will be able to focus on sales of our strategic flagship models next year,” she told The Korea Times during the interview on Nov. 20.
The challenges included the steep rise in the won-dollar exchange rate and ever-rising raw material prices due to changes in U.S. tariff policies under the Donald Trump administration. As Stellantis Korea relies on imports, the strengthening dollar against the Korean won resulted in the rise of its vehicle prices here.
The Peugeot 3008 hybrid SUV / Courtesy of Stellantis Korea
Despite these issues, the top executive has carried out major work to expand engagement with customers under the Stellantis Brand House strategy, which combines the sales and promotional networks of its two flagship brands — Jeep and Peugeot.
“There were four Stellantis Brand House showrooms in 2024, but now there are 10, and we will increase it to 13 by the end of next year,” she said. “The move is aimed at rebranding the identity of Stellantis Korea, thereby expanding vehicle sales from the brands.”
Bang is an expert in marketing and public relations, having worked at global automakers such as Volkswagen Korea and Renault Korea as a key executive in charge of the brands’ overall promotional activities for local customers.
“We place a bigger focus on tracking how many customers visit our showrooms, rather than sticking to the number of vehicle sales, as sustainable growth is much more important for us,” Bang said.
Stellantis Korea is also undergoing a major transition toward electrification. This year, the company focused on maximizing sales of its Peugeot 3008 hybrid SUV as part of a broader shift to eco-friendly mobility.
Stellantis Korea plans to launch all-electric 3008 SUVs as well as hybrid and electric versions of its 5008 large SUVs next year in a move to absorb growing electric vehicle (EV) demand from customers in more diverse age groups.
“The biggest challenge for us is to defend their price level for customers here in the face of the strengthening dollar and the rising prime costs,” she said. “We have to maintain acceptable prices for our customers, while at the same time ensuring profitable growth in line with the policy drive from our headquarters, which is never an easy task.”
Jeep Korea's Gladiator pickup truck / Courtesy of Stellantis Korea
Major sales rebound for Jeep
Stellantis Korea has high hopes for achieving a major sales rebound for Jeep, with a planned launch of its new Grand Cherokee next year. The carmaker was scheduled to launch a facelifted version of the flagship SUV in Korea this year, but plans were delayed to next year.
“SUVs are the most important segment for sales in Korea, with customers’ increasing preference for the vehicles,” Bang said. “We have yet to fix the price for them here, but once we can offer it at a reasonable price, the Grand Cherokee will serve as a major sales driver for us next year.”
Stellantis Korea will focus on three strategic models — the Wrangler, Gladiator and Grand Cherokee — for Jeep sales in 2026.
According to data from the company, the number of Jeep vehicle sales remains almost twice as high as that of Peugeot.
Stellantis Brand House in Busan / Courtesy of Stellantis Korea
Fixed-price system
Stellantis Korea is on track to enhance the transparency of vehicle prices by adopting a fixed-price sales model. Starting this year, the company introduced the model for Peugeot by halting conventional promotional campaigns for dealerships.
Bang said it will take more time for Korean customers to accept the new model, but in the long run, it is a step in the right direction.
“Under the new sales model, dealers do not have to struggle to clear their inventory each year and offer promotional campaigns,” she said.
“Stellantis Korea will take responsibility for the year-end inventory. Even if some dealers may receive smaller margins with the revamped sales system, they can focus more on the sales themselves, which we believe will build a healthy environment for dealers. This will also be good for customers, as they can trust our prices.”