SEOUL, July 7 (Korea Bizwire) — KG Mobility, formerly SsangYong Motor Co., said Friday it will transform Edison Motors Co. into an environment-friendly commercial carmaker after it became the final bidder for the debt-laden electric bus maker. KG Mobility plans to expand Edison Motors’ large electric bus-focused lineup to include small and medium-sized buses and [...]
SEOUL, July 5 (Korea Bizwire) — South Korea’s imports of luxury cars, priced at over 300 million won (US$230,570) per unit, continue to grow steadily. Based on data received from the Ministry of Land, Infrastructure, and Transport, Rep. Yang Kyung-sook of the Democratic Party reported that the cumulative number of registered luxury vehicles with a [...]
SEOUL, July 4 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Tuesday their combined sales in the United States rose 9.9 percent in June from a year earlier on robust sales of SUVs and environment-friendly models. Last month, Hyundai and Kia sold 145,849 vehicles in the world’s most important automobile market, [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor announced that its dedicated electric vehicle, the Ioniq 6, has been named the 2023 Car of the Year by Car and Driver. The competition involved evaluating 14 EV models from major automakers over three weeks, considering factors like value, driving tests, technology, and enjoyment. The Ioniq 6, [...]
SEOUL, June 26 (Korea Bizwire) — South Korean minicar market has once again slowed down this year after initially showing signs of a revival due to the popularity of Hyundai Motor Co.’s Casper mini SUV. Domestic sales of minicars totaled 50,562 units in the first five months of this year, representing an 8.2 percent year-on-year [...]
SEOUL, June 24 (Korea Bizwire) — Automobili Lamborghini S.p.A. is on track to achieve a new sales record in South Korea this year on a growing appetite for a limited volume of super cars among deep-pocket Koreans, a company executive has said. The Italian luxury sports car maker has reported double-digit sales growth in Asia’s [...]
SEOUL, June 23 (Korea Bizwire) — Automobili Lamborghini S.p.A. on Friday launched the Italian luxury brand’s first plug-in hybrid model in South Korea as part of its “hybridization” strategy before going fully electric by the end of this decade. The Revuelto comes with a 6.5-liter V12 gasoline engine, which is capable of producing 1,015 horsepower, [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co.’s labor union has requested that management provide discount benefits for purchasing new cars not only to retirees with significant tenure at the company but to all retirees. This demand has reportedly been included in this year’s list of collective bargaining items. Every year at Hyundai, approximately [...]
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate, Kia Corp., are taking steps to solidify their top positions in Vietnam, which is emerging as a major automobile market in Southeast Asia. In the Vietnamese car market, Hyundai maintained its No. 1 position in terms of sales for the third consecutive year, [...]
SEOUL, June 21 (Korea Bizwire) — The head of Mercedes-Benz Korea Ltd. has said a predictable business environment is the “one thing” he has wanted the most from the South Korean government during his 2 1/2-year term that ends in September. Over the past few years, the regulatory landscape in South Korea has actually developed [...]