“Restoring customer trust and strengthening the brand”
This is the goal set for this year by Bang Sil, the newly appointed CEO of Stellantis Korea.
Stellantis Korea held a media briefing on the 1st at Le Hans in Seongbuk-gu, Seoul, where CEO Bang Sil revealed his vision. Bang entered the automotive industry in 2005 as a PR manager at Volkswagen, later serving as the head of marketing operations at Renault Korea before taking the helm at Stellantis Korea in February.
He noted that the domestic luxury car market is currently shared among Mercedes-Benz, BMW, and Genesis, while the foothold of imported mass-market brands is shrinking. Bang stated, “There are still opportunities for mass-market brands, not just premium ones,” adding, “The domestic automotive market remains a challenging arena.”
Furthermore, he mentioned, “As the technological capabilities of domestic cars have increased, the price has risen, and consumers’ perception of imported cars has diminished,” indicating that Jeep and Peugeot from Stellantis present attractive options.
Bang highlighted that “50% of new customers for Stellantis have come from domestic brands,” and pointed out that “12% of Jeep buyers considered purchasing Genesis, and many Peugeot customers have experience owning Renault Samsung vehicles.”
He stated that his two main objectives are “restoring customer trust and strengthening the brand.” To achieve these, Stellantis will focus on improving marketing and after-sales services. Bang expressed, “Rising raw material costs and changing exchange rates have made it difficult for customers to make decisions due to frequent price fluctuations and promotions,” and emphasized his intent to stabilize prices to align what dealers want to sell with what customers want to buy. He further explained that the company would avoid discount competition and will reinvest in the service network to facilitate easier purchasing for customers.
Reflecting the tough economic conditions, Stellantis plans to ease customer burdens by partnering with Our Financial Capital to offer interest-free installments and low-interest financing products ranging from 1% to 4%.
Bang also announced the network plan, stating that Stellantis aims to open brand houses in Wonju and Gwangju, converting a total of 9 showrooms and 10 service centers into brand houses by 2026. Additionally, adapting to the era of electric vehicle commercialization, Stellantis is committed to continuous investment in training electric vehicle maintenance personnel through collaboration with Seongyoung University.
Finally, he specified planned additions to the product portfolio for Jeep and Peugeot. He revealed, “Jeep’s first pure electric SUV, the Avenger, will launch in the second half of the year, bolstering the Jeep lineup. This model has achieved over 10,000 contracts in a month since its introduction in the European market and will showcase pure electric SUV off-road performance. Peugeot will launch the 308 mild hybrid model to cater to customer needs for diverse powertrains.”
In closing, Bang asserted his goal to strengthen the brand so that customers can take pride in it and choose to return.
By Jang Lee, email: daedusj@autodiary.kr