YONGIN, Jul. 11 (Korea Bizwire) — Hyundai Motor Co. said Thursday it is aiming to sell 8,000 units of its all-new entry-level Venue SUV in South Korea this year. The Venue went on sale in the domestic market on Thursday. Hyundai expects the car to further strengthen the Korean carmaker’s SUV lineup, which is composed [...]
SEOUL, Jun. 18 (Korea Bizwire) — Renault Samsung Motors Corp. on Tuesday began to sell its liquefied petroleum gas-powered QM6 SUV in the domestic market. The QM6 LPe is the first LPG-fueled SUV in the South Korean SUV market. The facelifted QM6, equipped with a 2.0-liter gasoline engine, also went on sale, it said. The [...]
SEOUL, Jun. 17 (Korea Bizwire) — Four out of 10 vehicles sold in South Korea from January to May were sport utility vehicles, reflecting growing demand for recreational vehicles, industry sales data showed Monday. In the first five months, domestic and imported carmakers sold 612,043 vehicles, with SUVs accounting for 42 percent, according to data [...]
SEOUL, Jun. 11 (Korea Bizwire) — Robust sales of new sport-utility vehicle models will buoy stocks of Hyundai Motor Co., analysts said Tuesday, expecting the South Korean carmaker to rack up growth of over 20 percent in its second-quarter operating profit. Shares in Hyundai Motor closed at a 52-week high of 143,500 won (US$121) on [...]
SEOUL, May 30 (Korea Bizwire) — General Motors Co. will produce the all-new Chevrolet Trailblazer sport-utility vehicle in South Korea later this year, the local unit said Thursday. The Trailblazer is the compact SUV mentioned in GM’s restructuring scheme for its South Korean unit. The new model will be produced in GM Korea’s plant for [...]
SEOUL, May 20 (Korea Bizwire) — Hyundai Motor Co.’s sales of SUVs again exceeded those of sedans in the first quarter of the year amid rising global popularity of the vehicle type, according to company data on Monday. Hyundai Motor, South Korea’s top automaker, posted 4.39 trillion won (US$3.67 billion) in SUV turnover in the [...]
SEOUL, Apr. 10 (Korea Bizwire) — Kia Motors Corp.’s union has called for the halt to U.S. production of the automaker’s brand new Telluride three-row SUV as weak vehicle sales can jeopardize jobs in South Korea, industry sources said Wednesday. The issue is expected to take on prominence at this year’s collective bargaining talks between [...]
SEOUL, Apr. 7 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp., South Korea’s leading carmakers, saw their share of the SUV market in the United States hit a seven-year high in the first quarter, industry data showed Sunday. According to the data, a combined 155,082 units of SUVs made by Hyundai and Kia [...]
SEOUL, Apr. 3 (Korea Bizwire) — The ratio of sedans in South Korea’s domestic vehicle sales fell to below 50 percent for the first time last month due to higher demand for sport utility vehicles, industry data showed Wednesday. Sales of passenger vehicles such as sedans, SUVs and vans fell 1.7 percent to 114,383 units [...]
SEOUL, Mar. 25 (Korea Bizwire) — A steady decrease in the sale of sedans in the South Korean market has shrunk their presence down to 50 percent of total automobile sales. Sport utility vehicles (SUV) and car derived vans (CDV), on the other hand, are expanding rapidly, and are expected to soon replace sedans as [...]