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 [...]
SEOUL, Mar. 4 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker by sales, is discussing internally whether to introduce the Telluride, a large-sized sports utility vehicle initially designed for the United States only, to the South Korean market. Kia’s sales department has been pushing the automaker to bring the SUV to South Korea, [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s three listed carmakers are betting big on sport-utility vehicles (SUVs) to bolster sales in 2019 after posting lower-than-expected earnings results last year. With ongoing trade friction between the United States and China and the global economy slowing down, Hyundai Motor Co., Kia Motors Corp. and SsangYong Motor [...]
SEOUL, Jan. 6 (Korea Bizwire) — The number of sport utility vehicles (SUVs) sold in South Korea in 2018 shot up 12.7 percent on-year — growing faster than any other type of automobile — to hit a record-high level, data showed Sunday. According to the data based on figures from five South Korean car manufacturers, [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s domestic car market moved in two different directions this year with the rise in popularity of large sedans and sport utility vehicles (SUVs) standing in contrast to weaker demand for smaller vehicles, industry data showed Sunday. In the January-November period, Hyundai Motor Co., Kia Motors Corp., GM [...]
SEOUL, Nov. 22 (Korea Bizwire) — Porsche, a high-end sports car brand, is at the center of criticism as the company reportedly demonstrated inappropriate behavior not only towards customers, but also towards the South Korean government. Yonhap News TV reported that a Porsche worth over 100 million won (US$ 88,500) stopped due to engine failure, [...]
SEOUL, May 23 (Korea Bizwire) — Although the total number of Korean cars exported this year thus far has dropped, the average unit price has risen due to the increase in exports of SUVs and luxury sedans. This is expected to help carmakers cash in on profits despite the industry’s overall slowed growth. According to [...]
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 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 [...]