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Hyundai Q1 Net Plunges 48% on Strong Won, Weak Sales

Hyundai Q1 Net Plunges 48% on Strong Won, Weak Sales

SEOUL, April 26 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday its first-quarter net profit plunged 48 percent on the strong won and weak sales in two major markets. Net profit for the three months ending March 31 fell to 731.6 billion won (US$678 million) from 1.406 trillion won a year earlier, the company said in a statement. “The net result was affected by the won’s strength against the [...]

Hyundai Unveils Electric Version of Kona Subcompact SUV

Hyundai Unveils Electric Version of Kona Subcompact SUV

SEOUL, Apr. 12 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker, on Thursday unveiled the electric version of its Kona subcompact sport utility vehicle (SUV) in a stepped-up drive to diversify its lineup with environmentally friendly vehicles. Amid the rapid growth in the domestic electric vehicle market in recent years, Hyundai Motor is [...]

Hyundai Launches Upgraded Ioniq Eco Vehicles

Hyundai Launches Upgraded Ioniq Eco Vehicles

SEOUL, March 22 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker, on Thursday unveiled upgraded versions of its Ioniq hybrid and electric vehicles (EVs) with enhanced safety features and better range. The company said the new Ioniq EVs, conventional hybrids and plug-in hybrid electric vehicle (PHEV) models are equipped with enhanced features, such [...]

Hyundai, Kia Shares Plunge on U.S. Probe on Faulty Airbags

Hyundai, Kia Shares Plunge on U.S. Probe on Faulty Airbags

SEOUL, March 19 (Korea Bizwire) – Shares of Hyundai Motor Co. and its affiliate Kia Motors Corp. plunged Monday as the U.S. probe into airbag-related accidents raised worries over potential recall costs for the carmakers. The U.S. National Highway Traffic Safety Administration (NHTSA) and Hyundai Motor Group are jointly looking into why the two carmakers’ airbags failed to deploy in Hyundai Sonata sedans and some Kia Forte compacts that [...]