SEOUL, Nov. 7 (Korea Bizwire) — Hyundai Motor Group has outperformed Volkswagen Group to become the world’s second-largest automaker in terms of operating profit, industry data showed Thursday. According to automotive industry data, Hyundai Motor Group achieved sales of 69.4 trillion won (US$49.6 billion) and an operating profit of 6.5 trillion won during the third [...]
SEOUL, Sept. 11 (Korea Bizwire) – Volkswagen’s official dealer in South Korea announced on September 10 the launch of a limited edition model that maximizes the dynamic appeal of the Golf GTI. The new Golf GTI Limited Edition is set to captivate enthusiasts with its enhanced aerodynamics and exclusive design elements. This special edition model features [...]
SEOUL, Aug. 14 (Korea Bizwire) – More foreign automotive brands on Wednesday disclosed battery supplier information of their electric vehicle models sold in South Korea, the latest in a series of disclosures amid safety concerns of EVs triggered by a massive vehicle fire earlier this month. On Aug. 14, Volkswagen Group Korea, the importer of [...]
SEOUL, May 26 (Korea Bizwire) – Volkswagen Group Korea has embraced its role as a corporate citizen by establishing a nonprofit foundation to commemorate two decades in the South Korean auto market. On May 23, the company, led by President and CEO Till Scheer, announced the launch of the Volkswagen Group WE: Foundation, a philanthropic [...]
SEOUL, Nov. 15 (Korea Bizwire) — Mercedes-Benz Korea and three other car companies will recall over 10,000 vehicles due to defective components, the transportation ministry said Wednesday. The companies, which also include BMW Group Korea, Volkswagen Group Korea and domestic electrified van manufacturer Jeis Mobility, are voluntarily recalling a total of 10,981 units of 20 [...]
SEOUL, Aug. 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it has received an order from Volkswagen AG to supply a core electric vehicle component for the German carmaker’s EV platform. In the “large-scale” supply deal, Hyundai Mobis will supply battery supply assembly (BSA) parts to Volkswagen, which [...]
SEOUL, July 26 (Korea Bizwire) — South Korean owners of Volkswagen vehicles have faced disappointment in their lawsuit filed for compensation over the local unit of German carmaker’s manipulation of emissions documents, which resulted in the revocation of emissions certifications. The Seoul Central District Court ruled in favor of Volkswagen Group Korea and a Volkswagen [...]
SEOUL, Feb. 1 (Korea Bizwire) — The South Korean unit of German carmaking giant Volkswagen AG has put a stop to all new car sales, igniting consumer complaints. According to industry sources, Volkswagen Korea asked dealers to temporarily suspend the release of all types of its cars last week without informing them of the reason. [...]
SEOUL, Sept. 29 (Korea Bizwire) — Criticism is mounting over Volkswagen Korea, which is allegedly delivering its brand-new model faster to customers who obtain financing from its auto finance service with an annual interest rate of more than 7 percent. According to industry sources, Volkswagen Korea’s official dealers are informing customers who make reservations for [...]
SEOUL, Sept. 15 (Korea Bizwire) — Volkswagen Korea on Thursday launched the all-electric ID.4 SUV in its first debut outside of Europe, as it sees South Korea “essential” for its e-mobility business. Volkswagen Korea said it will gradually expand its electric vehicle lineup, as South Korea is one of the fastest-growing and pioneering EV countries. [...]