Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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Hyundai Motor expands aid to suppliers
Hyundai Motor Group plans to up the funds it provides to its subcontractors, giving out about 600 billion won ($530 million) this year. About 320 billion won will support suppliers’ research and development activities and the rest will be allocated as loans with low interest rates, the group said in a statement on Sunday.The automotive group said it is showing its commitment to co-prosperity, as its 11 business units, including Hyundai Motor, Kia Motors and Hyundai Mobis, have signed a pact with
April 23, 2012
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European car sales fall to 14-year low as economy stalls
European car sales fell to a 14- year low last month, with Fiat SpA, Renault SA and PSA Peugeot Citroen posting the biggest drops, as the region’s sovereign- debt crisis caused economic growth to stall. Registrations in the 27-member European Union plus Switzerland, Norway and Iceland fell 6.6 percent from a year earlier to 1.5 million vehicles, the lowest figure for March since 1998, the Brussels-based European Automobile Manufacturers’ Association said today in a statement. First- quarter sale
April 22, 2012
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U.S. regulators to examine electric-car battery safety
The U.S. auto-safety regulator said it will hold a forum on lithium-ion batteries in electric cars next month, almost a year after a General Motors Co. Chevrolet Volt caught fire following crash-testing. The National Highway Traffic Safety Administration announced a meeting May 18 in Washington to convene government officials and auto and battery-industry representatives to talk about “safety considerations” for cars powered by lithium-ion batteries. The meeting was announced in a posting on the
April 22, 2012
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Renault Samsung looks to overseas markets
At home, automaker pinning hopes on electric vehicles to offset sluggish salesRenault Samsung Motors is seemingly prioritizing overseas markets over sales at home as consumption in Korea sags and the Chinese market enjoys rapid growth.During the first quarter of 2012, Renault Samsung posted exports of 27,505 units, 64 percent of its total sales of 42,939 units.Between 2000, when France’s Renault acquired the then Korean carmaker, and 2010, the carmaker’s yearly domestic sales exceeded exports.Th
April 22, 2012
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Citroen reenters Korean market
French automaker Citroen resumed sales in the local market on Thursday after a decade-long hiatus.The company under the wing of PSA Peugeot-Citroen unveiled the DS3, a premium hatchback, in Seoul on Thursday. Hanbul Motors Corp. will take on imports of the French cars.Citroen aims to sell up to 2,500 cars per annum in Korea, Eric Dumondelle, chief of the company’s Asia Pacific division told The Korea Herald.“We at Citroen have a new logo, new technology and it was the right time (to come back) i
April 19, 2012
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New Santa Fe aims to be best-seller
Hyundai Motor Co., Korea’s No. 1 carmaker, has launched the third-generation Santa Fe in the local market.During an unveiling event in Incheon on Thursday, the company said it aims to sell 42,000 units of the New Santa Fe at home and 110,000 units in the overseas market this year. The automaker has also set the sales target of 385,000 units for next year ― 50,000 for domestic and 335,000 for overseas consumers.“The Santa Fe holds significant meaning for the local sport utility vehicle market and
April 19, 2012
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Hyundai-Kia’s sales hit record high point in Europe in March
Hyundai Motor and Kia Motors posted all-time high monthly sales in the European market in March, despite the worsening business environment in the wake of the eurozone debt crisis.The affiliated companies’ combined sales came to 85,393 units in Europe in March, up 15.3 percent from 74,107 units a year before.According to the European Automobile Manufactures’ Association, also known as ACEA, Hyundai reported a 13.8 percent growth with sales of 50,131 units and Kia, 17.3 percent with 35,262 units.
April 18, 2012
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BEXCO has high hopes for Busan Motor Show
CEO Kim says May show will focus on low-emission vehiclesThe Busan Exhibition & Convention Center is striving to upgrade the Busan Motor Show through this year’s event, which may be the largest ever.The Busan International Motor Show 2012 is projected to mark “58 percent growth” compared to the previous event in 2010, BEXCO president & CEO Kim Soo-ik told a press conference in Seoul on Wednesday.The auto show ― which will emphasize low-emission vehicles ― will be held for 11 days from May 24 to
April 18, 2012
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BMW 7 series inquiry upgraded by U.S.
U.S. auto-safety regulators upgraded their inquiry into Bayerische Motoren Werke AG’s 7 Series cars that may roll away when parked as they probe transmission defects in an electronic access and ignition system.The U.S. National Highway Traffic Safety Administration said Tuesday on its website that it’s intensifying an investigation it opened in August of about 120,000 vehicles to an engineering analysis, which can lead to vehicle recalls. Some drivers said their 7 Series cars from model years 20
April 17, 2012
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Lexus sedan to battle BMW 520d, Benz E300
Toyota-Lexus may overtake Volkswagen, Audi to become Korea’s third-largest car importerLexus, the premium brand of Toyota Motor, has launched all-out efforts to regain its once-high share in Korea’s import automobile market.Though Lexus was vying for the No. 1 spot in the import car industry with BMW seven or eight years ago, it yielded its position to other competitors in the wake of the record recall incident in the U.S.The Japanese brand recently slashed the price of the New GS350 sedan by ab
April 15, 2012
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China car sales beat estimates, easing demand concerns
China’s passenger-car sales rose 4.5 percent in March, beating analyst estimates, as dealerships increased discounts to attract buyers amid record fuel prices. Deliveries of passenger automobiles, including multipurpose and sport-utility vehicles, climbed to 1.4 million units last month, the China Association of Automobile Manufacturers said today in a statement. Sales were projected to increase 3.9 percent, according to the average estimate of a Bloomberg News survey of eight analysts. The rebo
April 15, 2012
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Renault set to build cars in China
PARIS (AFP) ― French automaker Renault has signed a preliminary agreement to produce cars in China with domestic partner Dongfeng, a source close to the matter told AFP on Friday.The deal marks “the end of an initial step ahead of an agreement,” the source said, and would provide Renault with its first factory in the world’s biggest car market.Renault, which declined to comment on the information, said last year that it would begin to build cars in China after 2014.The French group has already e
April 15, 2012
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Hyundai Motor strives to become premium brand
Hyundai Motor will prioritize upgrading its brand image across the globe, shifting from its earlier business focus of expanding market share overseas.On Tuesday, the world’s fifth-largest automaker revealed its ambition to cultivate brand power approaching the level of top global brands such as BMW and Mercedes-Benz.“Hyundai Motor has been successful in selling many cars. But the performance in brand power is lagging behind in the overseas markets,” company executive director Cho Won-hong said i
April 10, 2012
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Car exports hit record high in March
South Korea’s car exports reached a record high in March, fueled by strong overseas demand for small-sized vehicles and sport utility vehicles, a government report showed Monday.Overseas vehicle shipments surged 18.1 percent on-year to 305,257 units last month, with total domestic production moving up 6.3 percent to 420,759 vehicles, according to the report by the Ministry of Knowledge Economy.The ministry said overseas sales were bolstered by 30.4 percent increase in small-sized cars and 17.4 p
April 9, 2012
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Hyundai-Kia to hold job fair for suppliers
Hyundai Motors and its affiliate Kia Motors are stepping up their efforts to support subcontractors’ recruiting.The two companies said Monday that they will hold a series of job fairs to hire jobseekers for subcontractors, including auto parts manufacturers, between April 25 and May 10.The automotive job fairs will start at the COEX in Samseong-dong in southern Seoul on April 25. The event in Seoul will run though April 26.The same events are scheduled for provincial cities such as Gwangju and D
April 9, 2012
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Rumor resurfaces on GM Korea’s relocation
Shanghai being mentioned as new Asian production base for GMObservers in the automobile industry are reviving the rumor that GM Korea will relocate its automobile manufacturing base in Incheon to a foreign country.The rumor has resurfaced as the Korean unit of U.S. General Motors has failed to post noteworthy sales performances despite changing the company name from GM Daewoo to GM Korea and introducing the Chevrolet brand in 2011.Following earlier speculation that GM Korea’s core production fac
April 8, 2012
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Is Italy’s Ducati an object of German desire?
Sporting the same flaming red racing colours, Ducati motorcycles are sometimes referred to as Ferraris on two wheels.The Italian brand has achieved success on the race track despite competition from much larger manufacturers including the likes of Japan’s Honda, Yamaha and Suzuki and Germany’s BMW.For years dominant in the Superbike World Championship, Ducati in 2007 clinched top honours in the premiere Moto GP category with rider Casey Stoner. The buzz around the team increased last year when i
April 8, 2012
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Honda’s Acura goes hybrid in challenge to BMW, Mercedes
Honda Motor Co. wants to boost sales of its Acura premium brand with a new “flagship” sedan that uses two electric motors and a V-6 gasoline engine to generate V-8 luxury-car power and small-car fuel economy.The RLX, replacing the current RL sedan, goes on sale early next year, Honda said at the car’s debut Wednesday at the New York International Auto Show. The large hybrid sedan uses a new 3.5-liter gasoline engine which, in combination with the electric motors and lithium-ion battery pack, del
April 8, 2012
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Toyota increases U.S. auto sales forecast
Toyota Motor Corp. raised its forecast for 2012 industrywide U.S. sales of cars and light trucks to the low- to mid-14 million unit range from 13.6 million, citing rising consumer confidence.“We’re starting to see improvement in consumer confidence and, combined with rising fuel prices and aging vehicles, the market is starting to move,” Bob Carter, Toyota’s group vice president for U.S. sales, told reporters Wednesday at the New York auto show. “It’s happening quicker than anyone thought.”U.S.
April 8, 2012
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Hyundai, Kia seek sales bounce with new launches
Hyundai Motor Co. and affiliate Kia Motors Corp. have prepped with new models to take back the market share lost to foreign brands in the first quarter. Hyundai began taking sales orders for the third-generation Santa Fe SUV on March 21, with more than 10,000 ordered already for the mid-April launch. Kia plans to release the K9 premium sedan on May 2, promising the biggest, boldest Kia yet. The model is the creation of former Audi/Volkswagen designer Peter Schreyer. The two new models are the fi
April 8, 2012