DETROIT, May 31 (Korea Bizwire) — Covisint Corporation (Nasdaq:COVS) today announced that it has extended its relationship with Ford Motor Company (“Ford”). With this extension, Ford will continue to leverage the Covisint B2B Automotive Exchange. The Covisint B2B Automotive Exchange currently provides global access to information and applications for more than 615,000 supplier users across [...]
SEOUL, May 31 (Korea Bizwire) – South Korea’s auto production in the first quarter fell to the lowest level in seven years for the three-month period, data showed Thursday, further threatening its status as a leading car manufacturer. South Korea produced close to 1.05 million vehicles from January through March, down 2.8 percent from the [...]
SEOUL, May 2 (Korea Bizwire) – Sales numbers of vehicles produced overseas and sold here by local manufacturers shrank greatly in the first quarter of the year from a year earlier, data showed Thursday, apparently due to advances by local competitors. Sales of the so-called OEM cars came to 3,171 units in the January-March period, [...]
SEOUL, April 26 (Korea Bizwire) – South Korea is not likely to regain its status as the world’s fifth-largest automaker, as India has been increasing the production of vehicles at a rapid pace, an industry report said Wednesday. South Korea was the fifth-largest producer for 11 years from 2005 until 2015 before slipping to the [...]
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 [...]
SEOUL, March 20 (Korea Bizwire) – Each and every one of 400 Bolt EV cars set to be delivered here next month was sold in just the first few hours of taking orders, GM Korea Co. said Saturday, reflecting an apparently high interest by local consumers in the new electric car. The company began taking preorders for the Chevrolet Bolt EV on Friday. “All 400 units in the first shipment were gone in just two hours,” said an official from the South Korean unit [...]
SEOUL, March 15 (Korea Bizwire) – South Korea’s automobile production surged in February amid strong demand for eco-friendly and luxury vehicles both at home and abroad, government data showed Wednesday. Automobile output rose 9.8 percent to 336,032 units last month from a year earlier, according to statistics released by the Ministry of Trade, Industry and [...]
CHANGWON, March 8 (Korea Bizwire) – The Changwon municipal government will launch a series of hydrogen car projects in a bid to promote the use of alternative fuel vehicles, starting with the opening of a hydrogen station tomorrow. Changwon is the latest city in South Korea to join the recent trend of encouraging the use of [...]
SEOUL, Feb. 22 (Korea Bizwire) – Korea’s largest automotive event, the Seoul Motor Show, will run from March 31 to April 9, but is likely to be a disappointment for the legions of local car fanatics. According to the organizing committee, nine local and 18 overseas car brands will participate in this year’s show, which [...]
SEOUL, Feb. 20 (Korea Bizwire) – A study by the Institute for Information & Communications Technology Promotion revealed Monday that 51 connected car companies in Korea spend a disappointing average of 980 million won ($854,148) on research and development each year. The figure is 2.7 percent of average sales revenue estimated at 36.37 billion won, [...]