SEOUL, Feb. 22 (Korea Bizwire) – A generation shift in the country’s imported auto market continued last year with customers in their 30s being the largest buyer group with a portion of nearly 40 percent, industry data showed Wednesday. According to the data compiled by the Korea Automobile Importers & Distributors Association (KAIDA), a total [...]
SEOUL, Jan. 16 (Korea Bizwire) – Mercedes-Benz will launch six new vehicle models in South Korea this year while expanding local dealerships and service centers as part of efforts to further increase its market presence here, head of the company’s local unit said Monday. Dimitris Psillakis, CEO of Mercedes-Benz Korea, said the company planned to [...]
SEOUL, Sept. 6 (Korea Bizwire) – It’s not the best of times for overseas automakers in Korea. With the government banning the sale of 80 Audi-Volkswagen vehicle models following the company’s emissions scandal, and a special consumption tax policy (lowered tax on vehicle purchases) finally coming to an end, sales of imported vehicles saw a [...]
SEOUL, July 29 (Korea Bizwire) – Sales of imported ‘company vehicles’ in Korea rapidly declined in H1 2016 compared to the same period in 2015, thanks to a recent revision to tax laws that took away some of the benefits of purchasing vehicles under a company name starting in 2016. Prior to the amendment, there [...]
SEOUL, July 26 (Korea Bizwire) – Imports of vehicles produced in Germany or by German automakers dropped for the first time in 13 years, apparently due to a large cut in inbound shipments of Volkswagen and Audi cars mired in an emissions scandal, industry data showed Tuesday. In the first five months of the year, [...]
SEOUL, July 6 (Korea Bizwire) – Sales of foreign cars in South Korea shed 3.5 percent on-year in June, weighed down by a slump of German automaker Volkswagen Group in the wake of a widening probe into its emissions scandal here, industry data showed Wednesday. A total of 23,435 units of imported cars were registered [...]
SEJONG, June 2 (Korea Bizwire) – Mercedes-Benz Korea, the local unit of the German luxury car brand, will recall 1,135 units of E-class sedans for problems with their powertrain control system, the transportation ministry here said Thursday. An error in the model’s powertrain software may fail to transmit engine power to the automatic transmission, causing a [...]
SEOUL, May 9 (Korea Bizwire) – Sales of foreign cars in South Korea dropped 2 percent on-year in April as some importers failed to secure a sufficient amount of cars to meet demand here, industry data showed Monday. According to the data compiled by the Korea Automobile Importers and Distributors Association, a total of 17,845 [...]
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 [...]
SEOUL, March 9 (Korea Bizwire) – LG Display Co. plans to supply advanced organic light-emitting diode (OLED) displays to Mercedes-Benz, industry sources said Wednesday, marking the first time for a carmaker to adopt the advanced screen. The South Korean display maker said it will supply the 12.3-inch P-OLED display to the New E-Class produced by the German carmaker. [...]