KOREA GM Korea’s Design Center and Techni-cal Center serves as the test lab for GM’s current and next generation global mini and small car architec-ture. It contributes to global GM prod-uct line in design-ing the Chevrolet Spark, Aveo, and Cruze. Management Association Consulting. he KSQI study surveys 26 industries, evalu-ating 111 diferent companies. “Chevrolet has been building upon a strong foundation since 2011. It has the longest vehicle warranty in Korea. It of-fers Chevrolet Complete Care, a 5-year/ 100,000-kilometer warranty for every new vehicle, except the Camaro, and free ive-year roadside assistance,” added Tan. South Korea has few natural resourc-es and is almost entirely dependent on imports for the industrial commodities it needs, particularly fossil fuels. In 2015, 96% of the energy consumed in South Ko-rea was imported. his is one of the main reasons why South Korea is aggressively pursuing the development of renewable energy. he South Korea government has been very aggressive in promoting hybrids and electric vehicles. As a result, hybrid sales are increasing in Korea and promise to grow further with the introduction of all-new models such as the Hyundai Ioniq hy-brid, PHEV, and EV models. In 2016, more than 40,000 PHEVs were sold in Korea, an increase of 7% over the year before. With the availability of the Hyundai Ioniq and Kia Niro, it is anticipated that the hybrid market will exceed 50,000 units in 2017. Despite the growth, hybrids continue to have a relatively small market share. “Hy-brid and electric vehicles, as in most de-veloped markets, are still a relatively small interest, around 1.5% of business cars, but it is growing,” said Tan. Auto Industry’s Global Scope South Korea is one of the world’s fastest growing economies. It is the fourth larg-est economy in Asia, ater China, Japan, and India. It has a gross domestic prod-SOURCE: COURTESY OF GM Top 5 Segments 2015 SUV-C CAR-D Car-E TRUCK-L CAR-C 230K 12.6% 188K 10.2% 185K 10.1% 197K 10.8% 50K 100K 150K 200K 330K 18.0% SUV-C CAR-D Car-E TRUCK-L CAR-C 144K 13.4% 125K 11.7% 114K 10.7% 107K 10.0% 0 5 10 15 20 2016 187K 17.5% 0K Although the Korean leet market is dominated by Hyundai-Kia, other OEMs, such as General Motors Korea (GMK), have been growing their leet presence in South Korea. Currently, South Korea is the ifth largest automobile manufacturing country in the world, following China, U.S., Japan, and Germany. General Motors has a sizeable footprint in the South Korea market. GM Korea is South Korea’s third largest automobile manufacturer and a subsidiary of General Motors. Q2 2017 I AUTOMOTIVE FLEET 5
Automotive Fleet May 2017: Page 5
