Stellantis Korea to boost sales by 30% in 2025

CEO pledges to minimize price burden for customers

By Lee Min-hyung

Stellantis Korea will go all out to boost sales of its vehicle by up to 30 percent in 2025 by strengthening the identity of its two flagship brands — Jeep and Peugeot, its CEO Bang Sil told reporters during a press conference in Seoul, Tuesday.

The local subsidiary of the world’s fourth-largest carmaker is stuck in a slump here. According to data from the Korea Automobile Importers & Distributors Association, the number of new vehicle sales from Jeep came in at 2,628 in 2024, down 41.8 percent from the previous year.

Bang took office as the new head of the carmaker in February 2024. At that time, she pledged to place its top priority on regaining customers’ trust with “consistent pricing policy” and improving the recognition of its brands.

“I would say Stellantis Korea was hit hardest by the chasm of electric vehicles (EVs) last year, as sales for our strategic Avenger EV fell far short of our expectation,” Bang said.

The compact electric SUV was launched in August 2024 with much fanfare, but it ended up losing its presence soon due to an escalation of EV-phobia triggered by multiple reports of EV fires from other major carmakers.

“But we have plans to raise our sales volume by around 25 to 30 percent this year from a year earlier,” she said. “Last year, we focused on recovering trust from customers, but this year, Stellantis Korea will pay more attention to revving up our auto sales.”

Sales for Peugeot are also freezing here. A total of 947 Peugeot vehicles were sold in Korea last year, the least since 2005. The brand enjoyed its heyday in 2015 with annual sales of some 7,000 vehicles. Starting from 2019, however, it has suffered a gradual sales decline on toughening rivalry in the nation’s imported vehicle market.

But the head of Stellantis Korea expressed its confidence of increasing sales for both brands with keen focus on their two flagship models — Jeep Wrangler and Peugeot 408.

“The two lineups are our star models, and we will continue to place our strategic focus on boosting their identity and sales this year,” she said.

The Stellantis Korea chief also pledged to do its best to minimize exchange rate shocks.

“The prices for our vehicles are vulnerable to the fluctuating exchange rate, and (when the Korean won depreciates against the U.S. dollar or the euro) we are under pressure (from our headquarters) to increase the prices for our vehicles,” she said.

But the chief from the carmaker said she will try her utmost to defend against such pressure, so customers face less financial burden when purchasing its vehicles.

Jeep will launch this year’s first special edition model — the Wrangler '41 Edition — in February. The brand also plans to launch its new Gladiator pickup truck in April. Peugeot hopes to achieve a major rebound with planned launches of its 308 mild hybrid EV in April.

Regarding the toughening competition in the nation’s pickup truck market, Bang said this will be an opportunity.

“We welcome launches of diverse pickup trucks from our rivals, as it will help the overall awareness of the segment to the public,” she said.