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South Koreans in their 40s who used to comprise the bulk of car buyers are no longer the largest consumer group, according to the latest data released Aug. 1. Now those in their 50s are the top car buyers, according to data from Korea Automobile Manufacturers Association. They bought 143,542 vehic...
Kia Motors on July 23 said its second-quarter earnings jumped 52 percent on a weaker local currency. Net profit for the April-June period soared to 505 billion won ($430 million) from 332 billion won a year earlier, Kia said in a statement. “The won’s weakness against the US dollar was th...
Hyundai Motor on July 22 launched the gasoline hybrid version of its all-new Sonata sedan in the domestic market for customers wanting fuel efficient cars. The Sonata 2.0-liter gasoline hybrid model comes with a six-speed automatic transmission and a solar roof, and it boasts a fuel economy of ...
Hyundai Motor, BMW and two other companies will voluntarily recall over 10,000 vehicles due to faulty components, the Transport Ministry said on July 18. This is the latest in a series of recall plans by local and overseas carmakers and importers of foreign vehicles. The four companies, inc...
Kia Motors on July 18 added the all-new sport utility vehicle Seltos to its lineup. The Seltos went on sale in South Korea before being shipped to India, China and other global markets. Last month, Kia unveiled the entry SUV model in India. “The Seltos is unrivaled in terms of design and p...
South Korea’s shipments of eco-friendly vehicles jumped an average of 33 percent per year in the past seven years on growing overseas demand, an auto business lobby group said on July 16. Local carmakers exported 196,000 eco-friendly vehicles in 2018, surging from 35,000 units in 2012. Eco-fri...
With the popularity of larger, spacious cars globally, South Korea saw sales of recreational vehicles hit 300,000 units in the first half of the year. According to five major carmakers here -- Hyundai Motor, Kia Motors, SsangYong Motors, Renault Samsung and General Motors -- a total of 303,315 RVs...
BMW’s 620d Gran Tourismo, the German carmaker’s new entry-level diesel variant of the 6 series, was released in the Korean market in April. Since then, a total of 314 cars have been sold as of the first week of July. When the Korea Herald drove the 620d GT on the 40 kilometer route from Seoul St...
Hyundai Motor on July 10 said it has appointed a former BMW designer as head of its design innovation group as it seeks solutions for future mobility technologies. The carmaker has appointed Suh Ju-ho, 48, as vice president and head of Hyundai Design Innovation Group, as it expects his experien...
Kia Motors CEO Park Han-woo was indicted without detention and referred for court trial on July 9 over allegations that the company used dispatch workers on assembly lines in violation of labor law. According to the Suwon District Prosecutors’ Office, Park is accused of having 860 workers disp...
Hyundai Motor Group said on July 9 it has reorganized its research and development division to better cope with growing demands for next-generation vehicles. The reorganization is aimed at “quickly and flexibly responding to rapidly changing customer demands and securing competitiveness amid g...
Hyundai Motor and affiliate Kia Motors said on July 5 they posted a 2.7 percent on-year increase in US sales in the first half of the year, helped by robust demand for their SUVs. In the January-June period, Hyundai and Kia sold a combined 638,172 vehicles in the United States, up from 621,349 ...
Hyundai Motor Group said on July 3 it has developed a new engine technology that sharply enhances vehicle performance and fuel efficiency and reduces gas emissions. The group plans to apply its own continuously variable valve duration system initially in its 1.6-liter turbo GDi engine, which wi...
Imported vehicle sales in South Korea fell 17 percent in June due mainly to a supply shortage, industry data showed on July 3. The number of newly registered foreign vehicles stood at 19,386 last month, down from 23,311 a year earlier, the Korea Automobile Importers & Distributors Association s...
All the five domestic carmakers in South Korea suffered a sharp fall in sales in June, according to the latest data on July 1. Hyundai Motor said its sales fell 8.3 percent last month from a year earlier on weak overseas demand. It sold 378,714 vehicles in June, down from 412,852 units a year e...
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