Chevy Equinox Comes to South Korean Market as Part of GM Korea Rescue Plan
The American-imported Spark is already on sale in the country, and the Traverse will be next
The Chevrolet Equinox is now available for purchase in South Korea. The compact SUV is one of 15 vehicles GM Korea is planning to introduce in the country over the next five years.
The strategy of importing more vehicles from the U.S. and making them available in the domestic market is part of GM Korea’s turnaround plan to shore up lagging sales and bounce back from near-bankruptcy.
Experience the Equinox: Get the details on this stylish and practical compact SUV
The Equinox will take the place of the Chevy Captiva for the South Korean market. Buyers will have a choice of FWD or AWD, but the Equinox will only offer one powertrain option: a 2.0-liter turbodiesel with a six-speed automatic transmission.
GM Korea hopes growing demand for SUVs will give a major boost to its sales. That would be welcome news for a unit that was recently on the verge of collapse. It lost more than $1 billion in 2017 due to poor sales, lower small-car demand, and shrinking export markets.
In May, GM and the South Korean government signed a deal to save GM Korea with an infusion of funding. In return, GM must keep its entire stake in GM Korea for five years, and it has to hold at least a 35 percent share for 10 years. In addition to importing American-made vehicles to bolster its domestic sales, GM Korea is also planning to export a pair of popular vehicles to the U.S. as part of the rescue deal.
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