Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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S. Korean children, teens grow taller, mature faster than before: study
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Army takes group action against Hybe for neglecting BTS
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Some junior doctors are returning: Health Ministry
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Debate rages over ‘overly fatty’ samgyeopsal
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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[Weekender] Korean psyche untangled: Musok
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Hyundai Motor unveils all-new Genesis Coupe
Hyundai Motor Co., South Korea’s largest automaker, on Sunday unveiled its all-new premium Genesis sports coupe that features more power, a dynamic exterior and passenger comfort.The vehicle, which shares the same external dimensions with the older model launched in October 2008, has a large radiator grill, aggressive head lamps and rear light combinations with liberal use of light emitting diode lights.The car, shown for the first time at the Korea International Circuit in Yeongam, South Jeolla
Nov. 13, 2011
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Hyundai, Kia set milestone in U.S. exports
Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their cumulative sales in the U.S. surpass 10 million units as of October.In the North American market, Hyundai Motor sold about 7.13 million units over the past 25 years and Kia Motors’ sales came to about 3.68 million units over 17 years.Hyundai, which was established in 1967 and experienced first exported of the Pony sedan in 1976 to Ecuador, finally entered the U.S. market in 1986.The company has actively expanded its presence there wi
Nov. 13, 2011
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Mercedes dealer names new CEO
Han Sung Motor, the official Mercedes-Benz dealer in Korea, announced Friday that it will name Ulf Ausprung as its new chief executive.The new CEO’s 18 years of experience in automobile industry, which mainly focuses on sales and marketing, were decisive factors for him to be selected, the company said in a statement.His experiences encompass working in a variety of regions including China, where he worked as a senior manager at a local deaer for six years. The CEO also spent few years in the Mi
Nov. 13, 2011
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Hyundai, Kia U.S. car sales to top 1m mark this year
U.S. sales of vehicles made by Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to surpass the 1 million mark for the first time this year, fueled by a surge in consumer demand, the carmakers said Thursday.The two companies, part of the world’s fifth-largest automaker Hyundai Motor Group, said their combined sales in the U.S. market jumped 26 percent on-year to 950,411 units in the first 10 months of this year.Hyundai, South Korea’s largest carmaker, said it sold 545,316 cars in
Nov. 10, 2011
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Hyundai, Kia cars win Middle East ‘car of the year’ awards
Four vehicles made by top South Korean automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. have won 2011 Middle East Motor Awards, industry sources said Wednesday.The cars that ranked first in their respective sections were Hyundai’s Accent subcompact and Elantra compact and Kia’s Optima mid-size sedan and Sportage compact sport utility vehicle.The two automakers are the flagships of Hyundai Motor Group, the world’s fifth-largest car manufacturer, with Hyundai sales in the region risi
Nov. 9, 2011
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Honda to release over 10 new models in S. Korea: CEO
Honda Motor Co., Japan‘s No. 2 carmaker, plans to launch more than 10 new models in the growing South Korean market, the company’s global CEO said Wednesday.Takanobu Ito said in a meeting with reporters that South Korea has become an important market for the Japanese carmaker and said all available resources will be used to boost competitiveness here.He did not give the names of the car models Honda wants to sell in South Korea or a time frame for their release but said the launching of the 2012
Nov. 9, 2011
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Ssangyong Motor to release flagship sedan in China
HONG KONG (Yonhap News) ― South Korea’s smallest automaker Ssangyong Motor Co. said Tuesday it will unveil its flagship luxury sedan for the first time in China in an effort to expand its presence in the world’s No. 1 auto market.The Chairman W will be showcased at the ninth annual Guangzhou International Motor Show, which is set to kick off on Nov. 22 for a seven-day run in the southern Chinese city.Ssangyong Motor, the Korean unit of the Indian sport utility vehicle maker Mahindra & Mahindra L
Nov. 8, 2011
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Mini Cooper Coupe launched
German luxury carmaker BMW AG on Tuesday launched a coupe version of its popular Mini small-sized car to meet South Korean consumer demand for sporty vehicles, the company said.The Mini Cooper Coupe is the first two-seater and the fifth model of the compact, fuel efficient vehicle that has been on the market for a decade.The new coupe, which was unveiled at the Frankfurt Motor Show in September, has a 1.6-liter, inline four cylinder engine that generates a maximum 122 horsepower with 16.3 kilogr
Nov. 8, 2011
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Malibu trails rivals in price, performance
GM Korea launched the Malibu, a midsize sedan of the Chevrolet series, in the local market a week ago.Though the company is pinning its hopes on the Malibu to grab more than 10 percent of the Korean market, data showed that the sedan fell behind the similar sedans from major competitors in terms of fuel efficiency, engine performance and price competitiveness.According to each company’s data for sales at dealerships, the gasoline-fueled Malibu with an engine capacity of 2.0 liters posted the low
Nov. 7, 2011
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Malibu trails competitors in price, performance
GM Korea launched its sales of the Malibu, a midsize sedan of Chevrolet series, in the local market a week ago.Though the company is pinning hope on the Malibu for its goal to grab more than 10 percent of the Korean market, data showed that the sedan fell behind the similar sedans of major competitors in terms of fuel efficiency, engine performance and price competitiveness.According to each company’s data for sales at dealerships, the gasoline-fueled Malibu with an engine capacity of 2.0 liters
Nov. 7, 2011
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Hyundai, Toyota vie for No. 1 in Africa
Hyundai Motor has been closely competing with Toyota Motor to become No. 1 in automobile sales in Africa, posting about 60 percent in growth since to the beginning of the year.The company saw its sales in Africa reach 16,011 units in October, compared with 10,051 units in January.Hyundai has ranked second with a 12.8 percent share of the African market while Toyota captured 14.7 percent of the market.Hyundai has surpassed Toyota in the five major countries ― Egypt, Algeria, Morocco, Angola and t
Nov. 6, 2011
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GM may block Saab sale to Chinese firms
NEW YORK (AFP) ― U.S. automaker General Motors said Saturday that it may block the sale of Saab to two Chinese companies aiming to buy the insolvent Swedish carmaker and provide it with substantial long term funding.“We have many unanswered questions about the transaction,” GM spokesman Jim Cain told AFP, referring to the proposed $142 million sale announced on October 28 of Saab to Chinese companies Pang Da and Youngman.“GM would not be able to support a change in the ownership of Saab which co
Nov. 6, 2011
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Land Rover, Mercedes working on new SUVs
HAMBURG (DPA) ― Land Rover and Mercedes are planning new models of their Range Rover and GL models next year, with increased demand for large, luxury sports utility vehicles (SUVs) in China and Russia, Germany’s Autobild newspaper reports.The new Mercedes GL, built on the basis of the M-Class, is expected to be ready early next year, with only small changes to the exterior, the report said.Both the Mercedes GL and the new Range Rover, which is expected to weigh some 300 kilograms less than the p
Nov. 6, 2011
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VW takes last hurdle in acquisition of MAN
FRANKFURT (AFP) ― Volkswagen, Europe’s biggest carmaker, said on Thursday it had received approval from Chinese authorities to increase its stake in MAN, the final hurdle in the takeover process. “The Chinese competition authorities have approved the increase of the stake of Volkswagen in MAN,” VW said in a statement.Approval by the Chinese competition authorities marked the completion of all regulatory clearances necessary for settlement and with it, VW had been able to take another “decisive s
Nov. 6, 2011
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BMW quarterly profit beats estimates on demand for X3 SUV
Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, reported better-than- expected profit in the third quarter as demand for the X3 sport- utility vehicle offset lower 1-Series sales.Earnings before interest and taxes rose 44 percent to 1.72 billion euros ($2.35 billion) from 1.19 billion euros a year earlier, the Munich-based company said today. Profit beat the 1.58 billion-euro average estimate of 18 analysts surveyed by Bloomberg. Revenue climbed 3.8 percent to 16.5 bil
Nov. 6, 2011
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Toyota, Honda see U.S. sales decline as Hyundai, Nissan rise
Toyota Motor Corp. and Honda Motor Co. posted U.S. sales declines for October, rather than the increases they had forecast, while Nissan Motor Co. and Hyundai Motor Co. led gains among Asian carmakers amid improving demand.Deliveries fell 7.9 percent from a year earlier for Toyota, Asia’s biggest automaker, and 0.5 percent for Honda, as both of the Japanese companies did better than analysts had estimated. Sales rose 18 percent for Nissan, 23 percent for Hyundai and 21 percent for Kia Motors Cor
Nov. 6, 2011
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U.S.-built Japan cars hit Korea for tax perks
The Korean parliament’s ongoing dispute over the free trade agreement with the United States is dimming prospects for its early ratification. But global carmakers operating in the United States were already fixing plans to launch vehicles here for the tax advantages in the pact that will greatly impact the auto industries of the two countries.Toyota Motor Corp., among them, is the first to bring its made-in-America cars to Korea at a lower price in expectation of lower taxes. As all cars manufac
Nov. 6, 2011
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Kia Motors to build 3rd plant in China
Kia Motors Corp., South Korea’s No. 2 automaker, signed an investment contract on Wednesday to build a new Chinese assembly plant in an effort to better meet demand growth in the world’s largest car market.The deal calls for the Kia plant, which will be the third in the country, to be built by the second half of 2014 and have an annual production capacity of 300,000 cars.This output will compliment the 430,000 cars that are currently being made by the carmaker’s two car assembly lines in Yanchen
Nov. 2, 2011
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Car exports up, domestic sales down
Korea’s major automakers posted contrasting sales performances at home and abroad last month.Hyundai Motor and Kia Motors saw their exports increase in October from a year earlier. But their sales at home dropped on a yearly basis.Hyundai Motor sold 305,923 units, including exports and overseas production, abroad last month, up 18.3 percent from 258,644 units a year ago.The nation’s largest automaker saw exports of 114,454 units and sales of 191,469 units from overseas factories, increases of 18
Nov. 1, 2011
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Hyundai, Kia No. 2 in China
Hyundai Motor and its affiliate Kia Motors ranked No. 2 in sales of small vehicles in China during the first nine months of 2011, automotive data showed.It said the two carmakers saw their ranking climb by four notches on a year-on-year basis by grabbing 10.9 percent of the Chinese market. They placed sixth during the same period last year.The data showed that Hyundai-Kia sold a combined 162,472 units in the compact car segment between January and September.The companies saw their sales jump 52.
Oct. 31, 2011