SEOUL, Feb. 26 (Korea Bizwire) — General Motors Co. said Sunday it has started the production of the Trax Crossover at its South Korean plant ahead of its local launch in the first quarter. GM plans to ramp up the strategic model’s production to meet the rising demand for the new vehicle in the United [...]
SEOUL, Feb. 22 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has begun production of an electric vehicle (EV) in the United States in response to the U.S. Inflation Reduction Act (IRA), which allows no subsidies for imported EVs. On Feb. 21 (U.S. time), the South Korean carmaker started to assemble the Genesis GV70 [...]
SEOUL, Feb. 21 (Korea Bizwire) — Toyota Motor Corp. said Tuesday it will launch two all-electric models under the Toyota and Lexus brands in South Korea this year to compete with its rivals amid the accelerating electrification push. The Japanese carmaker plans to introduce the Lexus RZ SUV and the Toyota bZ4X SUV in the [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s car exports jumped 21.9 percent in January on-year, driven by record-high global sales of eco-friendly cars, data showed Monday. The value of outbound shipments of automobiles came to US$4.98 billion last month, up from 4.09 billion a year earlier, according to the data from the Ministry of [...]
SEOUL, Feb. 15 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. enjoyed record-high sales in the Indian market last month backed by robust SUV sales, data showed Tuesday. According to the Society of Indian Automobile Manufacturers and Hyundai Motor Group, Hyundai and Kia sold 50,106 units and 28,634 vehicles, respectively, last month [...]
SEOUL, Feb. 14 (Korea Bizwire) — SsangYong Motor Co., a South Korean SUV-focused carmaker, said Tuesday it has recently signed a deal to export 7,000 vehicles to a company in the United Arab Emirates this year. SsangYong Motor signed the export deal with Neweast General Trading Zafza (NGT) in January and agreed to expand the [...]
SEOUL, Feb. 13 (Korea Bizwire) — Hyundai Motor Group’s accumulated electric vehicle (EV) sales in the United States exceeded 100,000 units last month, industry sources said Monday. Hyundai Motor Co., its independent Genesis brand and Hyundai’s smaller affiliate Kia Corp. had sold a cumulative 104,326 EVs in the U.S. market as of the end of [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday it has decided to issue a correction order on four German carmakers operating here for colluding to adopt a system that results in higher nitrogen oxide (NOx) emissions and fine them a total of 42.3 billion won (US$33.5 million). The move came after [...]
SEOUL, Feb. 9 (Korea Bizwire) — Renault Korea Motors and SsangYong Motor Co. are struggling to ship vehicles abroad due to a shortage of car carriers. At Renault Korea’s Busan factory yard, thousands of cars are piled up, waiting for shipment. Car carriers from Europe are shipping the cars twice a month but the number [...]
SEOUL, Feb. 8 (Korea Bizwire) — Sales of BMW’s flagship 7 Series in South Korea plummeted two months after being released, data showed Tuesday, as it has failed to unseat Mercedes-Benz’s S-Class as the top-sellling imported flagship sedan. According to Carisyou Data Lab, the German automaker sold 91 units of full-size luxury sedan in January, [...]