SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s five major automakers saw domestic sales in 2024 fall to their lowest level in 16 years, amid high interest rates and weakening demand for vehicles, including electric cars. Despite the slump, Kia achieved a milestone as its Sorento SUV became the nation’s best-selling car—the first time a recreational [...]
SEOUL, April 11 (Korea Bizwire) – Auto sales in South Korea rose to the highest in 14 years in the first quarter of the year, aided by solid demand for new models, industry data showed Tuesday. Data from the Korea Automobile Manufacturers Association (KAMA) showed that the country’s five automakers and two commercial vehicle manufacturers [...]
WASHINGTON, March 1 (Korea Bizwire) – Hyundai Motor Co. and its smaller affiliate, Kia Motors Corp., saw their combined sales in the United States drop nearly 7 percent in February as Kia’s sales slumped, industry data showed Wednesday. The two South Korean auto giants sold a combined 95,693 units in the U.S. last month, down [...]