SEOUL, June 19 (Korea Bizwire) — Hyundai Motor Co. and Kia Corp. saw the total sales of their eco-friendly cars exceed 3 million units, industry data showed Sunday, 13 years after they began rolling out hybrid vehicles. South Korea’s top automaker and its affiliate sold 393,509 eco-friendly cars, including plug-in hybrid and all-electric vehicles, in [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s car exports rose 19.1 percent in May from the previous year on the back of global popularity of eco-friendly cars, data showed Wednesday. Outbound shipments of automobiles stood at 182,869 units last month, compared with 150,894 units a year earlier, according to the data from the Ministry [...]
SEOUL, June 12 (Korea Bizwire) — The top executive of Renault Korea Motors Co. has said that his company will roll out its first electric vehicle in South Korea in 2026. During a meeting with reporters on Friday, CEO Stephane Deblaise stressed that 2026 would be the perfect timing for his firm to release an [...]
SEOUL, June 10 (Korea Bizwire) — As new cars are experiencing shipping delays due to semiconductor shortages, there are concerns that the recent cargo truckers’ strike will exacerbate the delay. Industry sources said that the chip shortage has left South Korean consumers with wait times of at least one year for new Korean-made vehicles. Buyers [...]
SEOUL, June 9 (Korea Bizwire) — South Korean underwear company Ssangbangwool said Thursday it has submitted a letter of intent (LOI) to acquire SsangYong Motor Co. with an auction scheduled later this month to find a new investor. SsangYong’s lead manager EY Hanyoung accounting firm received LOIs from interested companies for SsangYong until 3 p.m. [...]
SEOUL, June 9 (Korea Bizwire) — Hyundai Motor Co. said Thursday the ongoing truckers’ strike is affecting production at its main domestic plants, which are already suffering from a global chip shortage. About 8,100 out of 22,000 members of the Cargo Truckers Solidarity joined the third day of the strike that began Tuesday, the transport [...]
SEOUL, June 8 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Wednesday it will hold a tech show in France next week to promote its advanced vehicle technologies to European clients. Hyundai Mobis has invited some 200 officials in charge of parts purchases and technology development at Renault S.A. and [...]
SEOUL, June 7 (Korea Bizwire) — Sales of imported vehicles in South Korea fell 2.4 percent last month from a year earlier as a chip shortage continued to affect vehicle production, an industry association said Tuesday. The number of newly registered foreign vehicles stood at 23,512 units last month, down from 24,080 units a year [...]
SEOUL, June 6 (Korea Bizwire) — Hyundai Motor Co. said Monday the accumulated sales of its independent Genesis brand models exceeded 700,000 units last month despite the prolonged chip shortage. The South Korean carmaker sold 699,751 Genesis vehicles, including 188,547 overseas sales, from its launch in November 2015 to end-April this year, according to Hyundai’s [...]
SEOUL, June 3 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Friday their combined sales in the United States fell 31 percent last month from a year earlier amid the prolonged chip shortage. Hyundai and Kia sold 117,373 vehicles in the world’s most important automobile market in May compared with 170,315 [...]