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Kia Expands its Grounds in Overseas Markets

Kia Expands its Grounds in Overseas Markets

SEOUL, Oct. 27 (Korea Bizwire) – Hyundai Motor Group affiliate Kia Motors is making rapid inroads in global automotive markets, introducing localized models, and broadening its eco-friendly product lines. The company announced on Thursday a 20.8 percent on-year increase in net profit for Q3.  According to Vice President Han Cheon-su, by 2018 Kia will launch [...]

S. Korean Hybrid Cars Overtake German Competitors in H1

S. Korean Hybrid Cars Overtake German Competitors in H1

SEOUL, Sept. 19 (Korea Bizwire) – South Korea’s market for environmentally friendly cars expanded at a rapid pace in the first half of 2016, also overtaking that of Germany, the largest producer of green vehicles in Europe, industry data showed Monday.  In the first six months of the year, South Korea-based manufacturers of environmentally friendly [...]

Hyundai’s Ioniq to Heat up Competition in S. Korean Hybrid Market

Hyundai’s Ioniq to Heat up Competition in S. Korean Hybrid Market

SEOUL, Jan. 27 (Korea Bizwire) – Competition is expected to intensify in the South Korean hybrid vehicle market as two global automakers are set to clash with their new subcompact models that are already drawing favorable responses from customers, market watchers said Wednesday. With Hyundai Motor Co. and Toyota Motor Corp. claiming to guarantee better [...]

Hybrid Car Sales of Hyundai, Kia Up Nearly Tenfold in 6 Years

Hybrid Car Sales of Hyundai, Kia Up Nearly Tenfold in 6 Years

SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s top carmaker, Hyundai Motor Co., and its sister affiliate, Kia Motors Corp., saw sales of their hybrids grow nearly tenfold over the past six years, data showed Monday, as the firms continue to churn out various eco-friendly options for buyers. The two automakers sold a combined 62,648 [...]

Foreign Car Craze in the Domestic Market

Foreign Car Craze in the Domestic Market

SEOUL, Korea, April 7 (Korea Bizwire) – Imported wheels are selling like hot cakes in Korea. Last month, the monthly sales of foreign cars have exceeded 15,000 breaking the record of 14,953 in July 2013. According to the Korea Automobile Importers and Distributors Association, 15,733 foreign cars were registered in March which has increased 30.4 [...]