SEJONG, Jan. 15 (Korea Bizwire) — South Korea’s antitrust watchdog said Tuesday that it has fined Toyota Motor Korea Co. 817 million won (US$729,000) for deceptive advertising of its RAV4 sport utility vehicle. Toyota Motor Korea advertised that its RAV4 obtained a top safety pick in five test categories, including the driver’s side small overlap [...]
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 [...]
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 [...]
SEOUL, Sept. 4 (Korea Bizwire) — Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, saw their sales growth in Chile slow down this year due to the won’s strength, a state-run trade promotion agency said Monday. In the January-July period, Hyundai’s sales in the Latin American market grew 11 percent on-year to 17,276 [...]
SEOUL, April 10 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, topped the list of auto sales in Peru, in February, aided by a sharp rise in demand for small passenger vehicles, industry data showed on Monday. According to the data compiled by the the Korea Trade-Investment Promotion Agency (KOTRA), Hyundai Motor sold [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s tax authorities have been investigating the local importer of Toyota and luxury Lexus vehicles over suspected tax evasions since late 2016, industry sources said Friday. In November, the Seoul office of the National Tax Service (NTS) launched a tax audit into Toyota Korea over suspicions that it [...]
SEOUL, July 26 (Korea Bizwire) – Toyota is recalling over 6,200 cars sold in South Korea for defective airbags, the transportation ministry said Tuesday. The recall affects 6,209 units of three vehicle types – the Prius, Prius PHV and Lexus CT200h — that were produced between Feb. 26, 2009 and April 27, 2012 and sold [...]
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 [...]
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 [...]
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 [...]