U.S.-Korea trade agreement shows modest sales for GM, Chrysler and Ford

Article by Christian Andrei, on December 6, 2011

It isn’t likely that a new U.S.-Korea trade agreement will lead to a surge in Korea sales of U.S. automakers because the market holds the perception that Korean brands have a functionality and style that can’t be matched by other brands. U.S. sales last year accounted for only 1.1% of the market. Typically, buyers don’t even consider imported models from General Motors Co., Chrysler Group and Ford Motor Co.

Consumers are looking for practical features, a high fuel efficiency rating, and a network of service centers. President Lee Myung Bak has signed the agreement, which will probably take effect on Jan. 1.

This deal calls for the phasing out of South Korea tariffs on U.S. vehicles. Kang Sang Min, a Hanwha Securities Co. analyst in Seoul, said that it is “highly unlikely” that U.S.-built cars will do well in the auto market in Korea. The local automakers such as Hyundai and Kia are believed to offer competent cars and services that are quick and convenient. [source: BusinessWeek]

Topics: gm, chrysler, ford

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The Shooting Brake is probably the least rendered body shape in the automotive world. But it’s also the most sought after design among car nuts for its unique, old-fashioned charm....
by - January 23, 2017
Perhaps to make the upcoming Valentine’s day more special, Tinder dating app and Ford UK have cooked up a special blind date for all the single blokes and chicks in...
by - January 23, 2017
2017 is undeniably a very busy year for BMW. After introducing the new 4-Series, the German automaker has just released several new updates. In relation to this, BMW is also...
by - January 23, 2017
The renowned Shelby Super Snake is now 50 years old! As we greet the Super Snake a “happy birthday” or a “happy anniversary,” Shelby itself is celebrating half a century...
by - January 23, 2017
Nearly a year after the Subaru XV Concept was unveiled at the 2016 Geneva Motor Show in Switzerland, this SUV study is making its North American debut at the 2017...
by - January 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries