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Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

Lexus ES300h First Imported Hybrid to Exceed 20,000 Unit Sales in S. Korea

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 [...]

Lexus to Exhibit All-new ‘LS’ Flagship and to Premiere Concept Car at Tokyo Motor Show 2017

Lexus to Exhibit All-new ‘LS’ Flagship and to Premiere Concept Car at Tokyo Motor Show 2017

TOKYO, Oct 3 (Korea Bizwire) - Lexus plans to exhibit its soon-to-be-launched, all-new “LS” flagship sedan among 11 production models it intends to display at the 45th Tokyo Motor Show 2017, where it also plans to hold the world premiere of a new concept car. The LS is to be joined by the “LC” luxury flagship [...]

Foreign Carmakers Blamed for Making Undue Profits Cashing in on Tax Benefit

Foreign Carmakers Blamed for Making Undue Profits Cashing in on Tax Benefit

SEOUL, June 17 (Korea Bizwire) – In an effort to stimulate Korea’s moribund domestic consumption, the government lowered its special consumption tax on vehicles from 5 percent to 3.5 percent, starting from August 2015. This tax benefit — which will  expire at the end of June — however, has brought about “undue profit” to foreign car makers while [...]

GM Korea, Toyota to Recall 1958 Vehicles for Defects

GM Korea, Toyota to Recall 1958 Vehicles for Defects

SEJONG, Dec. 16 (Korea Bizwire) - GM Korea and Toyota will recall 1958 cars sold in South Korea for safety-related mechanical defects, the Ministry of Land, Infrastructure and Transport said Wednesday. GM Korea, the South Korean unit of U.S. automaker General Motors Co., said ignition coils on its Veritas full-size sedans have problems that could [...]

Volkswagen Scandal Ends Up Boosting Sales of Hybrid Cars

Volkswagen Scandal Ends Up Boosting Sales of Hybrid Cars

SEOUL, Nov.30 (Korea Bizwire) – Although sales of foreign diesel cars froze after it was revealed that Volkswagen cars were ‘cheating’ on emissions tests, sales of environmentally friendly hybrid cars are rising fast. Industry watchers even say that a new ‘era of hybrid cars’ is beginning, as Hyundai Motor and Toyota both saw their highest [...]