SEOUL, Sept. 29 (Korea Bizwire) — Criticism is mounting over Volkswagen Korea, which is allegedly delivering its brand-new model faster to customers who obtain financing from its auto finance service with an annual interest rate of more than 7 percent. According to industry sources, Volkswagen Korea’s official dealers are informing customers who make reservations for [...]
SEOUL, Sept. 28 (Korea Bizwire) – The Seoul city government will additionally ban Grade 4 diesel vehicles, the second lowest in the country’s five-tier emission standard, from the city’s central areas starting in 2025 with a goal of dramatically reducing air pollutants, the mayor said Wednesday. Mayor Oh Se-hoon announced the measure as part of a broader [...]
SEOUL, Sept. 27 (Korea Bizwire) – Volvo Car Korea Co. said Tuesday its accumulated vehicle sales will exceed 100,000 units this year after reporting a double-digit annual sales growth in the past decade in Asia’s fourth-biggest economy. South Korea emerged as the 10th-biggest market for the Sweden-based carmaker last year from the 28th market in [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s Hyundai Motor Co. on Monday unveiled a hydrogen-powered vehicle based on Italian carmaker IVECO Group N.V.’s DAILY van in their extended commercial car partnership. Hyundai Motor and IVECO debuted the eDAILY hydrogen fuel-cell electric vehicle (eDAILY FCEV) at the IAA Transportation 2022 in Hannover, the world’s largest [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s Hyundai Motor Group reached a double-digit market share in the auto market in Britain for the first time in 40 years. In the January-August period, Hyundai Motor Co. and its smaller affiliate Kia Corp.’s market share in Britain marks at 12.3 percent, up by 3.4 percentage points [...]
SEOUL, Sept. 19 (Korea Bizwire) – South Korea is targeting to commercialize a Level 4 autonomous vehicle in 2027 to release half of newly launched vehicles as Level 4 models in 2035, the transport ministry said Monday. This year, Korea aims to become the world’s third country to commercialize a Level 3 autonomous vehicle after [...]
SEOUL, Sept. 19 (Korea Bizwire) – The government decided to extend subsidies for diesel vehicle drivers until the end of this year to help ease their burden from high fuel costs, Finance Minister Choo Kyung-ho said Monday. In May, the government began implementing the subsidy scheme for cargo truck drivers and others using diesel vehicles [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korean carmakers’ global market share slightly fell to 7.7 percent in the first half from a year earlier amid the extended chip shortage, industry data showed Sunday. From January to June, Korean carmakers sold a total of 2.1 million vehicles in the world’s eight major markets, down 9.9 [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korean automaker Hyundai Motor Co. said Thursday it has been selected for the 2021 Targeted Airshed Grants provided by the U.S. Environmental Protection Agency and it will be supplying hydrogen-powered trucks for the program. The TAG was first initiated by the EPA in 2015. It is a funding [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korea’s car exports jumped 35.9 percent on-year in August on brisk global demand for eco-friendly cars, data showed Friday. The value of outbound shipments of automobiles came to US$4.12 billion last month, the largest ever figure for any August, according to the data from the Ministry of Trade, [...]