SEOUL, July 3 (Korea Bizwire) — Sales of imported vehicles in South Korea rose 9.9 percent in the first half from a year earlier, driven by strong demand for newly launched models, industry data showed Thursday. The number of newly registered imported cars reached 138,120 units in the January-June period, up from 125,652 a year [...]
SEOUL, June 21 (Korea Bizwire) – Lexus Korea on Wednesday launched its first dedicated pure electric vehicle, the RZ 450e, to meet growing local demand for EV models and to be in line with its plan to go all-electric by 2035. The RZ 450e large SUV comes with a 71.4-kWh lithium-ion battery and the e-TNGA [...]
SEOUL, April 29 (Korea Bizwire) — The rankings for sales of imported cars have undergone significant changes this year, with Mercedes-Benz, BMW, Audi, and Volkswagen no longer dominating the market. In the first quarter of this year, Volvo has overtaken Volkswagen to claim the fourth spot, while new players such as Lexus and Porsche are [...]
JEJU, June 20 (Korea Bizwire) — Lexus Korea said Monday it will launch its first dedicated pure electric model ‘RZ 450e’ next year as part of its plan to go all-electric by 2035. Lexus plans to introduce the RZ 450e large-sized SUV equipped with the battery electric vehicle (BEV)-only platform developed by Toyota Motor Corp. [...]
SEOUL, Dec. 25 (Korea Bizwire) — Lexus ES300h gasoline hybrid model has become the first imported hybrid to post accumulated sales exceeding 20,000 units in South Korea, the Japanese carmaker’s local office said Monday. The ES300h was launched in the Korean market in 2012, with total sales hitting 6,112 models sold last year, accounting for [...]
SEOUL, March 10 (Korea Bizwire) – With restrictions on the accounting of vehicles for business use becoming stricter, the number of imported cars being used as corporate vehicles has dropped to a historic low. Vehicles from brands such as Rolls-Royce, Bentley, Porsche, Jaguar, Lexus, Audi and BMW that were purchased as corporate cars and then [...]
SEOUL, March 19 (Korea Bizwire) — Supercars are selling more than ever in Seoul, and the city is rapidly becoming a new hotspot for supercar brands. Bentley sells more of its US$ 230,000 model at its Cheongdam dealership in Seoul than anywhere else in the world. For all Bentley models, Seoul ranks second in sales behind Dubai. [...]
SEOUL, Dec. 9 (Korea Bizwire) — A study said the prices of parts and components for import cars sold in Korea are up to 2.5 times more expensive than those sold overseas. Comparing to the parts and components of domestic cars, the price differential is often as high as seven times. Consumers Korea, in cooperation with the [...]
SEOUL, Aug. 5 (Korea Bizwire) – The government has mandated automotive parts sellers to disclose the invoice prices of the parts including those of import cars. The Ministry of Land, Infrastructure, and Transportation said on August 3 that it revised a regulation on the automotive parts self-certification system and required the manufacturers and retailers of auto parts and components to reveal [...]
BUSAN, May 27 (Korea Bizwire) - Starting with Press Day on May 29, and the Opening Ceremony on May 30, the 2014 Busan International Motor Show (BIMOS 2014) will be at BEXCO in Busan for 11 days through June 8. The auto show, which first convened as the inaugural exhibition for BEXCO in 2001, is [...]