SEOUL, July 24 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea fell 12 percent last month from a year earlier on an economic slowdown, an industry association said Friday. The number of newly registered imported commercial vehicles fell to 324 units in June from 366 a year earlier, according to the Korea [...]
SEOUL, July 23 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp. — South Korea’s two biggest carmakers — on Thursday reported a sharp drop in their second-quarter earnings as the new coronavirus outbreak drove down overseas demand for their vehicles. But on their home turf, Hyundai and Kia performed well helped by new [...]
SEOUL, July 22 (Korea Bizwire) – South Korean automakers saw their sales increase in six member nations of the Association of Southeast Asian Nations (ASEAN) over the past three years helped by strong demand in Vietnam, industry data showed Wednesday. They sold a combined 184,595 vehicles in Thailand, Indonesia, Malaysia, Singapore, Vietnam and the Philippines [...]
SEOUL, July 20 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea’s two biggest carmakers, may suffer a sharp decline in the second-quarter earnings as a result of the coronavirus outbreak, but have fared well compared to foreign rivals, analysts said Monday. In the three months that ended June 30, [...]
SEOUL, July 19 (Korea Bizwire) — Hyundai Motor Co.’s new Grandeur sedan is likely to see its sales top 100,000 units this month, eight months after its launch in the domestic market, industry sources said Sunday. Hyundai Motor launched the face-lifted Grandeur in November last year and aimed to sell 110,000 units in the domestic [...]
HONGCHEON, July 17 (Korea Bizwire) — Audi Korea said it plans to launch more all-electric vehicles to fill 35 percent of its lineup with the emission-free models by 2030 amid rising demand for environment friendly cars. Early this month, the German carmaker launched the e-tron 55 quattro sport utility vehicle, its first fully electric model, [...]
SEOUL, July 15 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their standings sharply rise in global electric vehicle sales in the January-May period, a market research firm said Wednesday. Hyundai Motor ranked sixth in EV sales in the first five months from ninth in the year-ago period, while Kia’s [...]
SEOUL, July 14 (Korea Bizwire) — Hyundai Motor Group said Tuesday it aims to achieve a market share of over 10 percent in the global electric vehicle (EV) market in 2025 by investing more in future mobility and introducing more EV models. In his televised briefing on the carmaker’s EV road map to President Moon [...]
SEOUL, July 14 (Korea Bizwire) — Is it an attempt to evade car acquisition taxes, or to offer more choices to customers? U.S. electric carmaker Tesla Motors Inc. allows customers to purchase Full Self-Driving (FSD) systems priced at 9 million won (US$7,500) even after the customers buy a non-FSD model. Purchasing a separate option after [...]
SEOUL, July 14 (Korea Bizwire) — South Korea’s exports of automobiles dropped 33.4 percent in the first six months of 2020 from a year earlier, due mainly to the new coronavirus pandemic that has strained global business activities while weighing on consumers’ sentiment, data showed Tuesday. Local carmakers shipped 826,710 units of cars overseas in [...]