HWASEONG, South Korea, June 27 (Yonhap) – Kia Motors Corp., South Korea’s second-largest carmaker, said Tuesday it will add a new SUV to its lineup next month to boost sales. “The B-segment SUV market has grown fast in the past five years since 2013 to 110,000 units in South Korea. The Stonic is to attract [...]
SEOUL, May 19 (Korea Bizwire) – Carmakers are betting on sport-utility vehicles (SUV) in the South Korean market amid strong consumer demand, industry insiders said Friday. In the next two to three years, local and foreign carmakers have plans to introduce a series of premium SUVs to reflect the popularity of recreational vehicles, according to [...]
SEOUL, May 16 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Tuesday it will unveil a new bus fully powered by electricity this month with the aim of getting it on the streets in 2018. As the government plans to sharply increase the number of charging stations across the country [...]
SEOUL, April 27 (Korea Bizwire) – Global ratings agency Moody’s Investors Service said Thursday it will maintain the current Baa1 rating for Hyundai Motor Co., South Korea’s top automaker, despite its weak first-quarter earnings. On Wednesday, the carmaker reported a 21-percent on-year drop in first-quarter net profit due to weak sales in China and emerging [...]
SEOUL, April 14 (Korea Bizwire) – South Korea’s exports of automobiles plunged 10.8 percent in the first quarter from a year earlier, data showed Wednesday, amid falling demand from emerging markets. South Korean carmakers shipped 654,494 units of vehicles abroad over the January-March period, compared with the 733,759 units posted a year earlier, the data compiled by the Korea Automobile Manufacturers’ Association [...]
SEOUL, April 5 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, saw its sales of the Genesis luxury sedan spike over 30 percent on-year in March in the United States, heating up competition mostly driven by German brands, industry data showed Tuesday. According to the data, Hyundai Motor sold 3,197 units of the Genesis [...]
JEJU, March 18 (Korea Bizwire) – An international expo for electric vehicles kicked off in South Korea on Friday with major automakers showcasing their latest EV models and holding a series of meetings to share their views on the current and future technologies for eco-friendly vehicles. The 3rd International Electric Vehicle Expo (IEVE) began on [...]