SEOUL, Dec. 1 (Korea Bizwire) — South Korea’s five major automakers reported another month of declining global sales in November, underscoring continued weakness in both domestic demand and overseas markets amid a broader economic slowdown. Hyundai Motor, Kia, GM Korea, Renault Korea and KG Mobility sold a combined 668,991 vehicles worldwide last month, down 3.9 percent [...]
SEOUL, Dec. 1 (Korea Bizwire) — Global automakers, led by Hyundai Motor, are deepening their push into gaming as they look to strengthen engagement with younger consumers and broaden their digital reach. Hyundai said on Sunday that its collaboration with the mobile racing game “Asphalt 9: Legends” won the Gold Award in the “Digital Experience: Automotive” [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean carmakers need to speed up developing all-solid-state lithium batteries and securing electric vehicle-related software capabilities to gain a bigger share in the era of electric vehicles (EVs), an auto industry expert has said. All current EVs are powered by lithium-ion batteries, which can catch fire once they [...]
SEOUL, June 13 (Korea Bizwire) — South Korean carmakers are increasingly choosing to facelift their existing models rather than develop entirely new vehicles amid the transition to electrification. KG Mobility, formerly known as SsangYong Motor Co., recently released another facelifted version of the Tivoli SUV, which was originally launched in 2015. This comes after the [...]
SEOUL, May 1 (Korea Bizwire) — As software-driven vehicles (SDVs) begin to shape the mainstream automobile landscape, more and more vehicles will be personalized to buyers’ preferences without the hassle of visiting an auto repair shop. Take the EV9, for example. Kia Corp. is set to launch its second dedicated electric vehicle, the EV9, in [...]
SEOUL, April 21 (Korea Bizwire) — South Korean carmakers’ global market share inched down in 2022 from a year earlier due largely to weaker sales in China and Russia, industry data showed Friday. Local automakers accounted for 7.3 percent of vehicle sales in the world’s eight major markets last year, down from 7.7 percent in [...]
SEOUL, March 10 (Korea Bizwire) — Boosted by the popularity of U.S. electric carmaker Tesla Inc., automakers are increasingly adopting online car selling platforms to revive sales in South Korea amid the prolonged COVID-19 pandemic. In 2017, Tesla began to sell its vehicles through an online platform in South Korea, raising questions over the effectiveness [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korean carmakers are placing a bigger focus on sales of high-end vehicles with higher margins as part of efforts to better cope with a possible decline in overall car sales resulting from the global economic slump. Hyundai Motor Co. saw its third-quarter sales jump by 30.6 percent year [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korean carmakers’ global market share slightly fell to 7.7 percent in the first half from a year earlier amid the extended chip shortage, industry data showed Sunday. From January to June, Korean carmakers sold a total of 2.1 million vehicles in the world’s eight major markets, down 9.9 [...]
SEOUL, Sept. 6 (Korea Bizwire) — Top domestic and imported automakers Hyundai Motor and Mercedes-Benz may give way to other competitors in sales performance this year. A total of 37,371 units of automobiles from Kia Corp. were newly registered last month, surpassing Hyundai (35,993 units including those from the Genesis brand) to become the top [...]