Marchionne counterattacks and brings Fiat to Korea
These days, a lot is said about the unfair competitive position of the South-Korean car manufacturers and meanwhile even adaptations to the current trade pact are considered. Kia and Hyundai are growing like never before and seem unstoppable. Especially brands such as Fiat and Peugeot are the victims of this, yet also Ford and Volkswagen.
Fiat is now counterattacking and made public today that it will be exporting cars to South-Korea. Fiat was already present in South-Korea, but since the merger with Chrysler, the existing network was taken down. Now the decision is to return to this market via the renewed Chrysler-network with the (in Mexico built) Freemont and 500. This market isn’t a growing one. Expected is that the Korean car market will drop by 2,1% by the end of this year. Renault Samsung Motors, for example, is forced to dismiss 4.700 people. The Korean car builders are thus making a living thanks to the European and American market. Fiat, meanwhile, isn’t planning on just letting this pass by and wants to expand as much as possible in Asia in the following years.