Smaller carmakers bet big on compact SUVs
2013-02-05
GM Korea, Renault Samsung, Ssangyong join fast-growing niche for breakthrough
With the almost 80 percent market dominance of Hyundai and Kia cars still intact and foreign car brands aggressively expanding their local presence, the nation’s smaller carmakers - GM Korea, Renault Samsung Motors and Ssangyong Motor - are all pinning high hopes on a niche segment: compact sport utility vehicles.
Amid the growing acceptance of small-engine, fuel-efficient vehicles, the market for smaller SUVs has been surging globally in recent years.
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By Lee Ji-yoon (jylee@heraldcorp.com) | http://www.koreaherald.com