SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s Hyundai Motor Co. on Thursday set a 4 to 5 percent growth target for sales this year, as it posted a 29 percent on-year jump in the fourth quarter on high-end models. Net profit for the three months ended Dec. 31 rose to 2.2 trillion won (US$1.6 [...]
SEOUL, Jan. 22 (Korea Bizwire) — Kakao Mobility has updated its taxi platform ‘Kakao T’ to allow users to rent cars on a per-minute basis, moving away from the traditional minimum one-day rental requirement. This new car rental service enables users to receive and return vehicles at different locations in a contactless manner. On January 21, [...]
SEOUL, Jan. 21 (Korea Bizwire) – South Korea’s exports of used passenger cars hit a fresh high last year amid the growing global demand for eco-friendly hybrid models, data showed Sunday. Outbound shipments of used passenger cars reached US$4.44 billion in 2023, soaring 66 percent from a year earlier, according to the data compiled by [...]
SEOUL, Jan. 19 (Korea Bizwire) — GM Korea announced on January 18 that the Chevrolet Trailblazer, a compact sport utility vehicle (SUV), claimed the top spot in passenger car exports from Korea last year. According to the Automotive Industry Trends report from the Korea Automobile and Mobility Industry Association (KAMA), the Trailblazer, including its derivative models, was [...]
SEOUL, Jan. 19 (Korea Bizwire) — The accumulated number of registered vehicles in South Korea rose 1.7 percent in 2023 from a year earlier on strong demand for environmentally friendly models, government data showed Friday. Car registrations came to 25.95 million units as of end-December, up from 25.5 million units a year ago, helped by [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s top carmaker Hyundai Motor Co. said Tuesday it has sold one of its plants in China as part of a business reorganization strategy in the world’s biggest auto market. Beijing Hyundai Motor, Hyundai’s joint venture with China’s Beijing BAIC Motor, sold the Chongqing plant to an industrial [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp., South Korea’s leading automakers, have picked up nine awards at prestigious annual design awards in the United States for their innovative design competitiveness, the companies said Wednesday. Hyundai snagged six top awards at the 2023 Good Design Awards in the transportation category from [...]
SEOUL, Jan. 16 (Korea Bizwire) – Kia Corp., South Korea’s second-largest automaker, plans to launch a sales subsidiary in Thailand but has decided to scrap a plan to establish an assembly plant in the country, according to company officials and sources Tuesday. Kia, part of Hyundai Motor Group, plans to officially launch the Thai subsidiary, [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s car exports jumped 31 percent on-year last year, driven by the growing global demand for premium eco-friendly automobiles, data showed Tuesday. Outbound shipments of cars reached US$70.9 billion in 2023, compared with $54.1 billion a year ago, according to the Ministry of Trade, Industry and Energy. Of [...]
SEOUL, Jan. 15 (Korea Bizwire) — Last December, sales of imported cars valued at over 100 million won in South Korea saw a significant increase compared to the previous month. This surge has been attributed to efforts to avoid the new green license plates, designated for corporate cars worth over 80 million won from January of this [...]