The Korea Herald

Volkswagen to recall 1,100 cars here over fuel filters

May 31, 2012

German automaker Volkswagen AG will recall 1,111 units of its popular CC four-door sedan and Tiguan compact sport utility vehicle to repair faulty fuel filters, the South Korean government said Thursday. Subject to the recall are 729 2.0-liter turbo diesel CCs produced between March 31 and Aug. 25 of last year and sold through Volkswagen’s local distributor. In addition, 382 Tiguans with the sam...
Sonata hybrid wins top satisfaction award

May 27, 2012

Hyundai Motor Co., South Korea’s top automaker, said Friday its Sonata hybrid has received the “top satisfaction” award from a U.S.-based automotive research company. The carmaker said the mid-size car ranked No. 1 in the hybrid and electric-powered passenger car segment checked by AutoPacific Inc. This car segment was first launched in 2010 with the Mercury Milan hybrid and Lincoln MKZ hybrid b...
Hyundai to advance release of new Equus, Genesis

May 27, 2012

Automaker sees sales of 2012 models stutter due to launch of K9, cheaper import cars Hyundai Motor is considering moving up the release dates for the Equus and Genesis 2013 versions as sales of the 2012-versions of the premium models have been sluggish. The recently sagging sales of the two models were attributable to a growing popularity of affiliate Kia Motors’ K9, a V8-powered luxury sedan, ...
Hyundai Sonata hybrid wins 'top satisfaction' award

May 25, 2012

Hyundai Motor Co., South Korea's top automaker, said Friday its Sonata hybrid has received the "top satisfaction" award from a U.S.-based automotive research company. The carmaker said the mid-size car ranked No. 1 in the hybrid and electric-powered passenger car segment checked by AutoPacific Inc. This car segment was first launched in 2010 with the Mercury Milan hybrid and Lincoln MKZ hybrid b...
Carmakers showcase tech prowess at Busan auto show

May 24, 2012

BUSAN ― Hyundai Motor Co. introduced five models, including its new Avante Coupe, in the Busan International Motor Show that opened on Thursday, along with an array of automobiles and IT-combined technologies to compete with foreign automakers. Based on the previous four-door Avante model, Avante Coupe will enter the local market in the second half of the year, Hyundai officials said. Embracing...
Racing models highlight Busan motor show

May 24, 2012

The Busan International Motor Show 2012 kicked off at BEXCO in Busan, with glamorous racing models highlighting the press-only event on Thursday. While chief executives of global carmakers are scheduled to hold a series of press conferences Thursday, the auto fair will be open to the public for 10 days starting Friday. This year’s fair will be the largest ever. It will showcase 173 vehicles, e...
High-end technologies highlight Busan Auto Show opening Friday

May 23, 2012

The Busan International Motor Show 2012 will kick off on Thursday at BEXCO in Busan, and will feature global green car technologies, organizers said. While chief executives of global carmakers are scheduled to hold a series of press conferences Thursday, the auto fair will be open to the public for 10 days starting Friday. This year’s fair is expected to be 62 percent larger compared to the pre...
Calif. passes 'self-driving' cars bill

May 23, 2012

California's Senate passed a bill to create guidelines for autonomous vehicles' -- self-driving cars -- to be tested and operated in the state, officials said. The bill will now go to the state Assembly for consideration next month, the Los Angeles Times reported Monday. The passage in the Senate comes as Google Inc., Caltech and other groups are busy developing vehicles that use radar, video c...
GM Korea allows early retirement to revamp management

May 21, 2012

General Motors Korea has launched an early retirement program to restructure its upper pool of managers and higher officials. A spokesman for the automaker told The Korea Herald that the program includes pre-payment of two year’s salary, adding that the estimated number of retirees remains unknown. The program, which started last Friday, will serve to renew the group, he said. The spokesman als...
China’s car dealerships struggle as stockpiles increase

May 20, 2012

Chinese dealers are struggling with the rising number of unsold cars that’s threatening to deepen price cuts, according to the nation’s biggest automobile dealers’ association. Dealerships for Honda Motor Co., Chery Automobile Co., BYD Co. and Geely Automobile Holdings Ltd. carried more than 45 days of inventory as of the end of April, exceeding the threshold that foreshadows debilitating price ...
Color matters

May 20, 2012

Hyundai Motor, which broke away from traditional designs first with the three-door hatchback Veloster last year, unveiled the nation’s first matte colored car Veloster Turbo recently. Together with matte gray, the turbo-version Veloster comes in vibrant colors such as Sunflower Yellow and Chameleon ― a color that the company said changes when viewed from different angles. “The colors of large s...
Asiana Airlines Q1 income posts W32.5b

May 19, 2012

Asiana Airlines Inc., South Korea’s No. 2 air carrier, said Friday its earnings plunged in the first quarter of 2012 from a year earlier, mainly due to soaring fuel prices. Net income stood at 32.5 billion won ($27.9 million) in the January-March period, down 94.7 percent from the 61.82 billion won recorded a year ago, the company said in a regulatory filing. Sales rose 7.6 percent on-year to 1...
Households’ monthly income grows 6.9%

May 19, 2012

South Korean households’ monthly income grew 6.9 percent on-year in the first quarter of this year thanks to improved employment conditions, a government report showed Friday. According to the report by Statistics Korea, households’ monthly income averaged 4.12 million won ($3,540) in the January-March period, compared with 3.85 million won a year earlier. Inflation-adjusted household income ga...
Kia Motors vows to become premium brand by 2017

May 18, 2012

Kia Motors has vowed to cultivate its brand power to near that of European and Japanese automakers within five years, following a similar vision its affiliate Hyundai Motor unveiled in April. Kia disclosed the goal to become a premium auto brand during the 2012 gathering of Kia dealership owners worldwide at a hotel in Vancouver May 14-17. Kia Motors vice chairman Lee Hyung-keun told participan...
Hyundai, Kia struggle against hybrid rivals

May 17, 2012

Korean carmakers plan to roll out new K5, Sonata hybrids Hyundai Motor and Kia Motors have yet to clarify their stance on whether to develop Genesis or K9 hybrid vehicles, though global carmakers are in heated competition to launch eco-friendly models of large-sized sedans. The players manufacturing hybrids for the luxury and premium-luxury segments include BMW, Mercedes-Benz, Audi and Lexus. ...