[THE INVESTOR] Renault Samsung Motors, the local unit of French carmaker Renault S.A., has launched Clio hatchback with aims to start a new boom in the local compact car market, the company said on May 20.

Clio is Renault’s best-selling car with about 14 million units sold worldwide since its release in 1990. 

Due to a lack of demand for hatchbacks here, where sedans and sport utility vehicles are highly preferred, Clio was introduced to Korean drivers last week.

“Korea’s auto industry is often called a grave for hatchbacks, and the ratio of hatchbacks has declined. But within the B-segment, demand for hatchbacks is definitely rising among local drivers,” said Bang sil, the marketing operation chief of Renault Samsung Motors.

By taking over the B segment hatchback market, largely consisted of Toyota’s Prius C, Mini Cooper Countryman and Peugeot 208, the company aims to sell 1,000 units of Clio monthly, it said.

The Zen and Intens trims released have been priced at 19.9 million won ($18,448) and 23.2 million won, respectively, about 10 million won lower compared to their price in Europe to match the price range of competitors here.

“In terms of fuel economy, Clio excels Peugeot 208 and Mini Cooper. We have achieved the best fuel efficiency than QM3 with aerodynamic design,” said Sebastien Bracard, chief engineer for Renault’s powertrain development.

Clio has a combined fuel economy of 17.7 kilometers per liter, higher compared to Renault QM3 compact SUV’s 17.3 kilometers per liter and Mini Cooper Countryman’s 15.1 kilometers per liter.

By Kim Bo-gyung / The Korea Herald (lisakim425@heraldcorp.com)