SEOUL, Jan. 27 (Korea Bizwire) — The 2015 Volkswagen Touareg launches on January 26 in the Korean market, where German automobiles are increasingly popular, chipping away at the lion’s share dominated by home-based Hyundai and Kia Motors. Given that Volkswagen’s Tiguan is extremely popular among import models – it grabbed the title of best-selling import car as [...]
SEOUL, Dec. 3 (Korea Bizwire) – The soaring popularity of Volkswagen’s Tiguan has led to increased resale values for the SUV in the second-hand market. The Tiguan is now the biggest seller among used SUVs, according to SK Encar, Korea’s leading used auto trading company. Until the first half of 2014, the Jeep Wrangler and [...]
SEOUL, Nov. 19 (Korea Bizwire) – Toyota Korea officially launched the latest generation of its Camry on November 18. The price tag was set at 33.9 million won for the XLE 2.5 liter gasoline-engine model, higher than that of Hyundai’s Sonata (22.5 – 29.9 million won), but similar in price to the Hyundai Grandeur (30.2 – 38.7 [...]
SEOUL, Oct. 21 (Korea Bizwire) – The Tiguan manufactured by Volkswagen reportedly has the highest used-car value in the auto market. A boom in its cumulative sales from January to September in 2014 might positively result in a value increase of second-hand Tiguans. According to SK Encar, Korea’s leading used car trading company, the Tiguan [...]
SEOUL, Aug. 5 (Korea Bizwire) – The government has mandated automotive parts sellers to disclose the invoice prices of the parts including those of import cars. The Ministry of Land, Infrastructure, and Transportation said on August 3 that it revised a regulation on the automotive parts self-certification system and required the manufacturers and retailers of auto parts and components to reveal [...]
SEOUL, July 12 (Korea Bizwire) – Koreans’ infatuation with German-made cars extends well beyond new and used cars and now moves to rental cars. According to the Korea Rent-a-Car Association on July 11, most of the top-ten import car brands registered for rental cars including leased ones as of the end of 2013 were German-made models [...]
SEOUL, July 2 (Korea Bizwire) – From July 1st this year, which marks the third anniversary of Korea-EU free trade agreement, the tariffs on mid- and large-sized European cars was abolished in Korea. Coupled with this measure, lowering tariffs on small-sized cars will give a further boost to already hot-selling European automotive industry in the [...]
SEOUL, June 25 (Korea Bizwire) – Nexen Tire declared its plan to advance into the European market by constructing a local factory for the stable tire supply. Nexen announced that it would invest 1.2 trillion won (US$1.2 billion) to build a new plant in Zatec, the Czech Republic to advance into the European market by [...]
SEOUL, June 17 (Korea Bizwire) – Chevrolet conducted a trial run event comparing its European style sedan Malibu Diesel with other imported diesel models to show off its performance and high fuel efficiency. On June 14, GM Korea, the car maker producing Chevrolet brand models, gave a chance to have a trial run by inviting 180 [...]
BUSAN, May 27 (Korea Bizwire) - Starting with Press Day on May 29, and the Opening Ceremony on May 30, the 2014 Busan International Motor Show (BIMOS 2014) will be at BEXCO in Busan for 11 days through June 8. The auto show, which first convened as the inaugural exhibition for BEXCO in 2001, is [...]