SEOUL, March 17 (Korea Bizwire) — A recent survey showed that South Koreans intending to buy automobiles this year tend are primarily considering sport utility vehicles (SUVs) and hybrid cars. Local used car dealer Encar.com conducted a survey of 3,427 consumers, of which 71.4 percent said they were planning to buy a car this year. Among [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Wednesday it will produce the IONIQ 5 all-electric model in its first manufacturing plant in Southeast Asia. Hyundai Motor completed the 150,000 unit-a-year plant in the Deltamas industrial complex near Cikarang, 40 kilometers east of Jakarta, in December. The Indonesian plant is already [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s car exports expanded more than 5 percent in February on increased production capacity, despite a global shortage of automotive chips, data showed Wednesday. Outbound shipments of automobiles stood at 167,682 units last month, up 5.1 percent from a year earlier, according to the data from the Ministry [...]
SEOUL, March 16 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Wednesday it has dropped the Samsung brand from its new company name as the deal with the South Korean conglomerate over the brand’s use ends in August. Starting Wednesday, the company will use the new name of [...]
SEOUL, March 14 (Korea Bizwire) — With an increasing number of global companies pulling back from Russia, Hyundai Motor Group is facing a dilemma in a country where it has been enjoying solid performance. The group has Hyundai Motor Co., its independent Genesis brand, and affiliate Kia Corp., under its wing. In 2021, Kia sold [...]
SEOUL, March. 11 (Korea Bizwire) — Hyundai Motor Group, the South Korean automotive group which has Hyundai Motor Co. and Kia Corp. under its wing, received a failing grade in U.S. marketing information service firm’s customer service satisfaction study. According to the J.D. Power U.S. Customer Service Index (CSI) Study, Hyundai, Kia, along with Hyundai’s [...]
SEOUL, March 8 (Korea Bizwire) — Hyundai Motor Co.’s all-electric IONIQ 5 has been named the UK Car of the Year 2022, beating nine competitors in the final round, the company said Tuesday. The IONIQ 5 outpaced the nine models, including the Fiat 500-e city car, BMW iX crossover and Porsche’s Taycan Cross Turismo, in [...]
SEOUL, March 7 (Korea Bizwire) — Hyundai Motor Co. on Monday outlined its used car business plans to expand customers’ right of choice, though the government put a halt to the business launch due to objection from existing players. In the past two years, Hyundai has had rounds of talks with government officials, other carmakers [...]
SEOUL, March 4 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 13 percent in February from a year earlier as chip shortages continued to disrupt vehicle production, an industry association said Friday. The number of newly registered foreign vehicles fell to 19,454 units last month from 22,290 units a year ago, the [...]
SEOUL, March 3 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, said Thursday it will launch 14 electric vehicles by 2027 and sell 1.2 million EVs in global markets in 2030. To beef up the EV lineup and achieve the sales target, Kia will invest 28 trillion won (US$23 billion) in future mobility solutions [...]