SEOUL, May 22 (Korea Bizwire) — Hyundai Motor Group on Monday withdrew a key spinoff merger plan in a setback to its corporate restructuring amid stepped-up opposition campaigns by some investors. The decision comes as global hedge fund Elliott and proxy advisers such as Institutional Shareholder Services (ISS) continued to take issue with the carmaker’s [...]
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 [...]
SEOUL, April 24 (Korea Bizwire) – Hyundai Motor Co. said Tuesday that Vice Chairman Chung Eui-sun plans to check new market trends and vehicles made by rival carmakers at the upcoming Beijing Motor Show. The company said Chung met with executives from Beijing Hyundai Motor Co. and its affiliates earlier in the day to discuss [...]
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 [...]
SEOUL, March 26 (Korea Bizwire) — Hyundai Motor Co. is mulling whether to produce a small pickup truck in the United States to avoid high tariffs and meet growing local demand, the company said Monday. “We have not made any decision on the manufacture of a pickup truck in the U.S. but are considering whether [...]
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 [...]
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 [...]
SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Co. and its corporate cousin Kia Motors Corp. posted increased sales of their sport-utility vehicle (SUVs) in the United States last month, though overall number of vehicles sold have not fully recovered, data showed Friday. In February, Hyundai Motor’s combined SUV sales jumped 19 percent to 18,111 [...]
Luc Donckerwolke, head of Hyundai and Genesis Design Center, (L) and Lee Kwang-guk, the chief of Hyundai’s domestic sales, pose for a photo beside the all-new Santa Fe SUV following its launch event at KINTEX exhibition hall in Ilsan. (image: Hyundai Motor) SEOUL, Feb. 21 (Korea Bizwire) — Hyundai Motor Co. said Wednesday that it [...]
SEOUL, Feb. 19 (Korea Bizwire) – Combined sales of cars made by Hyundai Motor Co. and its affiliate Kia Motors Corp. jumped 10 percent on-year in Europe last month, industry data showed Monday. In January, Hyundai and Kia sold 80,741 vehicles in the vast automobile market, up from 73,327 units a year ago, according to data from the European Automobile Manufacturers Association (ACEA). In Europe where small-sized vehicles are popular and stricter emissions [...]