Renault Samsung to launch XM3 SUV next week

SEOUL, March 3 (Yonhap) -- Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Tuesday it will launch its all-new XM3 sport utility vehicle next week to revive lackluster sales.

The XM3 SUV, which hits the domestic market on Monday, comes in two versions, one with a 1.3-liter gasoline turbo engine and a seven-speed dual-clutch transmission and the other with a 1.6-liter gasoline engine and a continuously variable transmission, the company said in a statement.

The TCe 260 engine for the 1.3-liter model and the GTe engine for the 1.6 model have been jointly developed by Renault and Daimler Automotive Group, it said.

The models sell at the starting price of 17 million won (US$14,300), with the prices going up to 25 million won depending on options.

Renault Samsung's sales fell 34 percent to 90,591 vehicles in 2019 from 137,208 units a year earlier due to a lack of new models and labor disputes affecting production.

From January to February, its sales plunged 48 percent to 13,290 units from 25,414 in the same period a year earlier.

The company's current lineup includes the SM3 compact, the all-electric SM3 Z.E. sedan, the QM3 small SUV, and the SM5, SM6 and SM7 sedans.

Renault has an 80 percent stake in Renault Samsung.

kyongae.choi@yna.co.kr
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