SEOUL, May 12 (Korea Bizwire) — Sedans are losing ground at a rapid pace in the South Korean car market as the share of sport utility vehicles (SUVs) expands due to their larger interior space, convenient functions, and leisure-friendly lifestyle. The share of SUVs among new car sales in the country has been on an [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s domestic car market moved in two different directions this year with the rise in popularity of large sedans and sport utility vehicles (SUVs) standing in contrast to weaker demand for smaller vehicles, industry data showed Sunday. In the January-November period, Hyundai Motor Co., Kia Motors Corp., GM [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea emerged as the world’s fifth-largest market for the German luxury auto brand Mercedes-Benz in the first half of the year thanks to its high popularity among local motorists, data showed Monday. Mercedes-Benz sold 37,723 vehicles in South Korea in the January-June period, up a whopping 54 percent [...]