SEOUL, Oct. 28 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to report a combined operating profit of about 3 trillion won (US$2.7 billion) in the fourth quarter on new models and improved product mix, after delivering poor business results in the past quarter, analysts said Wednesday. Hyundai and [...]
SEOUL, Oct. 26 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. on Monday posted lackluster third-quarter earnings results due to hefty provisions for recalls and quality management. For the three months that ended in September, Hyundai swung to a net loss of 188.8 billion won (US$167 million) from a net profit [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday they plan to reflect a combined 3.4 trillion won (US$3 billion) in provisions for product recall and quality control in their balance sheets for the third quarter of the year, indicating that they are set to swing to [...]
SEOUL, Sept. 29 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker by sales, plans to launch a new on-demand electric vehicle (EV) charging service that enables customers to have their EVs charged without limits in time and space. On Monday, Kia inked a memorandum of understanding (MOU) with battery diagnosis solution start-up MinTech [...]
SEOUL, Sept. 16 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker, said Wednesday it will raise the sales ratio of electric vehicles to 25 percent by 2029 by launching dozens of new models in global markets. Kia has sold more than 100,000 units of the Ray, Soul and Niro EV since 2011. “The [...]
SEOUL, Aug. 27 (Korea Bizwire) — Kia Motors Corp. on Thursday unveiled the upgraded Stinger sports sedan in South Korea to boost sales in the struggling sedan market. The Stinger Meister sports car — the face-lifted version of the first-generation Stinger launched in 2017 — comes with a 2.5-liter turbocharged gasoline engine or a 3.3 [...]
SEOUL, Aug. 20 (Korea Bizwire) — The Supreme Court on Thursday upheld a lower court’s ruling in favor of workers at Kia Motors Corp. that fixed bonuses should be counted as standard wages, closing the curtain on the almost decadelong legal battle. The Supreme Court confirmed that the automaker should pay its workers back wages, [...]
SEOUL, July 23 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp. — South Korea’s two biggest carmakers — on Thursday reported a sharp drop in their second-quarter earnings as the new coronavirus outbreak drove down overseas demand for their vehicles. But on their home turf, Hyundai and Kia performed well helped by new [...]
SEOUL, July 20 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea’s two biggest carmakers, may suffer a sharp decline in the second-quarter earnings as a result of the coronavirus outbreak, but have fared well compared to foreign rivals, analysts said Monday. In the three months that ended June 30, [...]
SEOUL, July 15 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their standings sharply rise in global electric vehicle sales in the January-May period, a market research firm said Wednesday. Hyundai Motor ranked sixth in EV sales in the first five months from ninth in the year-ago period, while Kia’s [...]