SEOUL, Nov. 20 (Korea Bizwire) – Hyundai and Kia vehicles have been recognized for maintaining excellent value as used cars in the United States, earning high marks for residual value. The automakers announced on November 20 that the Hyundai Kona Electric and Kia Telluride were named winners in J.D. Power’s 2025 U.S. ALG Residual Value Awards. [...]
SEOUL, Nov. 19 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, on Tuesday outlined its value-up program focusing on profitability and technological prowess amid a slowdown in electric vehicle (EV) sales. Hyundai Mobis aims to report an annual average of 5-6 percent in its operating profit margin in the three years through [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korea’s hybrid vehicle registrations are poised to hit an all-time high this year, reflecting both growing environmental consciousness and a temporary plateau in electric vehicle demand. According to data from the Carisyou data research institute, hybrid vehicle registrations from January to October reached 311,769 units, a 24.8% increase from [...]
SEOUL, Nov. 18 (Korea Bizwire) – Kia has significantly scaled back production of its EV9 electric SUV at its Georgia plant, as the automaker navigates stricter U.S. tax credit requirements and awaits the completion of local battery manufacturing facilities. According to Kia’s sales data, only 21 EV9s were produced at the Georgia plant through the third [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean battery stocks plunged Friday on reports that President-elect Donald Trump’s transition team plans to scrap the US$7,500 tax credit for EV purchases as part of broader tax legislation. Trump campaigned on ending the consumer tax credit, a key part of President Joe Biden’s Inflation Reduction Act (IRA). [...]
SEOUL, Nov. 14 (Korea Bizwire) — Kia Corp. said Thursday it has signed a tentative agreement with DHL Korea Ltd. to supply its PV5 mid-sized electric cargo vehicles to the logistics firm from 2026. Under the memorandum of understanding signed Wednesday, Kia will begin supplying the PV5, the first in the company’s electric purpose built [...]
SEOUL, Nov. 13 (Korea Bizwire) — Chinese electric vehicle (EV) giant BYD Co. on Wednesday officially announced its plan to enter South Korea’s passenger car market. BYD Korea, the company’s South Korean sales subsidiary, said in a press release that it has “completed review to release passenger car brands in the domestic market” and officially [...]
SEOUL, Nov. 8 (Korea Bizwire) – Mercedes-Benz Korea has announced the introduction of its first electrified G-Class model, the “All-New Mercedes-Benz G580 with EQ Technology,” marking a significant evolution in its premium SUV lineup. The company revealed on November 7 that it will initially release 70 units of a distinctive limited edition model, the “Edition One,” [...]
SEOUL, Nov. 7 (Korea Bizwire) – The global automotive industry faces significant changes and uncertainties following Donald Trump’s election as the 47th president of the United States on November 6. Hyundai Motor Group, which has relied heavily on U.S. exports for its performance, is particularly on alert as Trump has promised to prioritize domestic industries, strengthen [...]
SEOUL, Nov. 7 (Korea Bizwire) – In a departure from the traditional pattern where economic downturns boost compact car sales, South Korea’s compact vehicle market is experiencing a significant decline, with annual sales expected to fall below 100,000 units for the first time since 2021. According to data from Kais You Data Research Institute, compact car [...]