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THE INVESTOR
July 02, 2022

Market Now

GM Korea adds pickup truck brand, vows to break even this year

  • PUBLISHED :June 23, 2022 - 09:14
  • UPDATED :June 23, 2022 - 09:15
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GM Korea Brand Day (GM Korea)

GM Korea launched its premium SUV and pickup truck brand GMC in South Korea on Wednesday, renewing its marketing strategy to target diversified customer demands.

Calling it a multi-brand strategy, the new plan is about having many of its global brands, including Chevrolet, Cadillac, and GMC, provide a wide range of choices for domestic customers who enjoy diverse lifestyles. The company, which has undergone a massive restructuring process since 2018, also hopes to reach a break-even point this year and start to grow more.

“We are in the stage of a new chapter for GM in Korea, fulfilling our commitments made in 2018, and although facing many headwinds, we are doing all possible to deliver our commitment of breaking even this year, heading toward a better future,” said Roberto Rempel, President and CEO of GM Korea

Celebrating the launch of GMC, the carmaker introduced the Sierra Denali, a premium full-size pickup truck set to be hit the road this year.

The pricing and specific details of how Sierra Denali will be introduced here are still under discussion, but GM will be accepting online orders exclusively, according to the company.

In line with GM’s future all-electric strategy, representatives of Cadillac and GMC all hinted at introducing EV models of their brands to Korea in the near future.

“Customer interest in Hummer EV is really high, and we are currently analyzing both the global and domestic demands of the model. What I can tell you is that we are trying to establish our position in the EV sector as well,” said GM Korea Vice President of Sales, Service and Marketing Carlos Meinert.

“Our EV models, such as Lyriq and Celestiq, would be a big game-changer for the EV market in South Korea once they are introduced, and we are really looking forward to it. But beforehand, we are trying to acquire enough supplies to satisfy our customers,” said Cadillac Director Bryan Seo.

By Hong Yoo (yoohong@heraldcorp.com)

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