SEOUL, Jun. 26 (Korea Bizwire) – BMW AG said Wednesday it will further strengthen its luxury lineup to regain its leading status in South Korea after its sales plunged in the wake of engine fire incidents last year.
On Wednesday, BMW began to sell the upgraded flagship 7 Series in the domestic market following the launches of luxury models such as the i8 and i8 Roadster plug-in hybrid models and the X7 sport utility vehicle early this year.
“The company is putting a bigger focus on cementing its leading position in the Korean luxury car market and better competing with rivals such as Mercedes-Benz,” a company official said.
The facelifted BMW 7 Series is available in gasoline, diesel or plug-in hybrid versions. It is priced at between 140 million won (US$120,000) and 230 million won.
BMW cars are still subject to the carmaker’s ongoing recalls. It has nearly completed its recall of 171,000 BMW and Mini models to fix faulty exhaust gas recirculation (EGR) coolers and pipes.
In the January-May period, BMW Group sold a total of 14,674 units in South Korea, plunging 52 percent from 30,372 units a year earlier.
BMW Group sells BMW, Mini and Rolls-Royce models in Asia’s fourth-biggest economy.