SEOUL, June 1 (Korea Bizwire) — South Korean carmakers’ sales rose 41 percent last month from a year earlier on strong overseas demand amid a quicker-than-expected recovery from the COVID-19 pandemic and a lower base effect, industry data showed Tuesday. The country’s five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung [...]
SEOUL, May 4 (Korea Bizwire) — The trend of convergence in the roles of carmakers and auto insurers is forecast to accelerate as self-driving technologies continue to become more sophisticated, a report showed Monday. A growing number of carmakers are providing car insurance services by themselves or establishing joint ventures with insurance companies to develop [...]
SEOUL, May 3 (Korea Bizwire) – South Korean carmakers’ sales jumped 77 percent last month from a year earlier driven by robust overseas demand for SUVs amid the extended COVID-19 pandemic, industry data showed Monday. The five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. [...]
SEOUL, May 3 (Korea Bizwire) — Amid forecasts that the shortage of automobile chips will extend until the end of this year, concerns are growing that the scarcity could serve as a stumbling block that prevents the Korean automobile industry from making a transition to future vehicles. To tide over the shortage of chips, Kia [...]
SEOUL, April 1 (Korea Bizwire) — South Korean carmakers’ sales rose 12 percent last month from a year earlier helped by robust overseas demand for SUVs amid the COVID-19 pandemic, industry data showed Thursday. The five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — [...]
SEOUL, March 30 (Korea Bizwire) — A global semiconductor chip shortage is set to spill over into Korean automakers as well, raising concerns that a prolonged supply glitch may derail local carmakers off track amid the pandemic. The chip shortage stems from multiple factors such as chipmakers shuttering plants or cutting production due mainly to [...]
SEOUL, March 4 (Korea Bizwire) — South Korea’s share of the global car market remained unchanged in 2020 from a year earlier due mainly to sluggish performance in China, industry data showed Thursday. Sales by South Korean automakers accounted for 7.5 percent of the total in the United States, China, Europe and four other major [...]
SEOUL, March 2 (Korea Bizwire) — South Korean carmakers’ sales rose 4.8 percent last month from a year earlier helped by strong demand for SUVs amid the COVID-19 pandemic, industry data showed Tuesday. The five carmakers in South Korea — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor [...]
SEOUL, March 2 (Korea Bizwire) — The South Korean automobile industry is accelerating efforts to strengthen contactless sales services amid increasing difficulty in attracting customers due to the COVID-19 pandemic. Mercedes-Benz Korea is providing a variety of services, including a vehicle transport service and a consultation service for sales and purchases of certified used cars, [...]
SEOUL, Feb. 24 (Korea Bizwire) — South Korean carmakers are facing a crisis as the global automaking industry is being hit by a shortage of semiconductors. Hyundai Motor Co. and affiliate Kia Corp. are checking the stocks of semiconductors each week, adjusting manufacturing plans to prioritize the production of cars with ample stock of automotive [...]