"New Car Launch Dilemma"... Auto Industry Faces Growing Concerns Amid COVID-19

[Asia Economy Reporter Kiho Sung] Due to the impact of the novel coronavirus infection (COVID-19) that has struck the world, disruptions to the domestic automobile industry's new car launch plans this year seem inevitable, deepening the concerns of automakers.

According to the automobile industry on the 15th, Kia Motors is deliberating on the event format for the new 'Sorento' scheduled to be launched next month. Considering that the Sorento is Kia's representative model and a popular main vehicle among consumers, a large-scale launch event would be natural; however, due to COVID-19, mobilizing many people is burdensome.

For this reason, it is known that Kia is discussing various options regarding the Sorento launch event, including small-scale events and online events.

Renault Samsung Motors will launch its first new car of the year, the 'XM3,' in early next month. Although the launch timing is set for early March, the exact date has not yet been confirmed. Renault Samsung is also closely monitoring the impact of COVID-19 ahead of the XM3 launch.

The XM3 is a new car that Renault Samsung has devoted great effort to and is an export strategic model that can replace the contract-produced Nissan Rogue. The media unveiling event this time is said to be critical to the company's fate. Earlier, Renault Samsung announced plans to launch six new cars this year, with the XM3 having the largest share. This is because it is the most popular compact sport utility vehicle (SUV) in the market. Currently, despite the strong performance of the QM6, Renault Samsung is struggling due to the poor performance of other models.

Some companies have postponed their launch events altogether. BMW has tentatively postponed the media unveiling event for the new 1 and 2 Series, which was scheduled for the 18th and 19th. A BMW Korea official explained, "This is to participate in preventing the spread of the novel coronavirus and to reschedule the timing to provide a safer environment for test-driving experiences."