The Korea Herald

Korean auto parts makers target Brazil

Jun 9, 2011

Korea’s auto parts manufacturers are aggressively seeking inroads into Brazil, the world’s fourth-largest automobile market. Brazil has emerged as the world’s sixth-largest automobile producer and sold about 3.6 million vehicles last year, grabbing the world’s fourth place. The active advancement of local companies has been fueled by the recently growing demand for made-in-Korea components in t...
Sales of imported vehicles jump 22 pct in May

Jun 7, 2011

SEOUL (Yonhap) -- Sales of imported vehicles in South Korea surged 22 percent last month from a year earlier on demand for new models and aggressive marketing strategies by local dealers, a trade association said Tuesday. A total of 8,777 imported vehicles were sold here in May, compared with 7,193 units sold a year earlier, according to the Korea Automobile Importers and Distributors Associatio...
Audi launches next generation A6 Avant

Jun 5, 2011

INGOLSTADT, Germany (DPA) ― Audi is launching the next generation A6 Avant with a choice of six engines, lightweight components and such features as a rear hatch opening in response to a sensor signal. Fuel consumption has been reduced by as much as 18 percent compared with the previous model, according to Audi. Topping the engine lineup is the new 3.0 TDI with twin-turbo technology and 230kW/31...
BMW pays tribute to 1930s sports car

Jun 5, 2011

MUNICH (DPA) ― BMW is paying tribute to a 1930s sports car with an exciting new show car called the BMW 328 Hommage which is fitted with all that modern technology has on offer and design cues reminiscent of the classic built 75 years ago. “With the BMW 328 Hommage, we wish to pay homage to the passion and inventiveness of the fathers of the BMW 328”, said Karl Baeumer,CEO of BMW Group Classic, ...
U.S. to sell remaining Chrysler stake to Fiat

Jun 5, 2011

WASHINGTON (DPA) ― The U.S. government is selling its remaining 6-percent equity in carmaker Chrysler to Italy’s Fiat SpA for $500 million, the U.S. Treasury Department announced last week. “After the completion of this transaction, Treasury will have fully exited its TARP investment in Chrysler Group LLC,” the department said in a statement. TARP refers to the Troubled Asset Relief Programme l...
Volvo P1800 celebrate 50th anniversary

Jun 5, 2011

The Volvo P1800 has turned 50. The eye candy of classic style lovers debuted in 1961, and shaped the image of Volvo as a maker of vehicles with style and diamond-hard durability. The design by Peitro Frua later morphed the sports car into a Grand Turismo Estate that inspired the Volvo 30 ― the modern equivalent of the P1800. The 1800 model boasts world famous durability, with the 1800S headed ...
Mercedes-Benz offers free check-ups

Jun 5, 2011

Mercedes-Benz Korea is offering check-ups and coolant replacement free of charge until June 25, the company said. Available at 23 services across the country, the promotional offer celebrates 125 years of its business operation. The local office of German carmaker is also offering 16 percent discount on selected components as part of the offer. “The check-ups are to help drivers prepare their s...
Renault Samsung opens supply support center

Jun 5, 2011

Renault Samsung Motors began operating the global supply support center for Korea-made components, expanding opportunities for parts suppliers in the overseas market. The company opened a consultation desk for part suppliers within its Purchasing Division located in its technical center in Giheung, south of Seoul, to answer their inquiries about exports. “Through the operation of the Global Sup...
Kia expands U.S. production by 20 percent

Jun 5, 2011

Kia Motors Corp., Korea’s second-largest automaker, announced plans last week to raise output at its Georgia plant by 20 percent, underscoring the U.S. industry’s biggest market-share gain this year. Kia, an affiliate of Hyundai Motor Co., raised its U.S. share 0.8 percentage points to 3.8 percent through May, topping gains of 0.7 point for General Motors Co. and 0.6 point for Hyundai, according...
Toyota pledges to overtake BMW in Korea

Jun 5, 2011

Toyota Motor president Akio Toyoda vowed to become the champion of sales among foreign automakers in Korea by 2014, promising tough competition with German players. During his visit to Seoul over the weekend, Toyoda said, “Though we may not able to restore our brand image all at once, we will make efforts to top the list of Korea’s import car market within three years.” The CEO’s commitment cam...
Two-seater thrills lure uptown drivers

Jun 5, 2011

High-end vehicles lead foreign carmakers’ charge in Korean market Buoyed by a growing love for sports cars by the well-to-do, foreign luxury car brands are upping their share of the domestic car market. Auto analysts say more are turning to exotic options accompanying fast, topless thrills often with luxury amenities like rain-sensing windshield wipers and automatic climate control with pollen ...
Toyota president sees return to full output from November

Jun 4, 2011
Hyundai-Kia grabs 10% of U.S. market

Jun 2, 2011

Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their U.S. market share exceed 10 percent for the first time in May, mainly thanks to robust demand for new models. The automakers under the wing of Hyundai Motor Group sold 107,426 vehicles in the United States last month, up 21 percent from a year earlier. They captured 10.1 percent of the American market, where the total sales of globa...
Hyundai to develop sedan only for China by 2013

Jun 1, 2011

Hyundai Motor said that it would develop a mid-sized sedan aimed at mostly Chinese customers by 2013. The project to launch a China-oriented sedan came as the automaker anticipates that the sales of middle-class sedans will surge in coming years in the Asian superpower, a Hyundai spokesman said Wednesday. “The China-oriented sedan will not be a remodeled car,” he said. “A new model which would ...
Lamborghini to launch new ‘everyday’ model

May 29, 2011