THAAD row could have impact on Korea's auto sector: Moody’s

Global rating agency Moody's Investors Service said Monday political tensions between South Korea and China over the deployment of an advanced US missile shield system could have some negative impact on the automotive sector here, though it expected the impact to be manageable. Moody's didn't expect the diplomatic rows with China to cause any immediate change in the ratings of three Moody's-rated auto industry companies -- Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. -- given their

Sept. 25, 2017

VW enters 2nd round of recall in Korea

Audi Volkswagen Korea Ltd. said Monday it has entered the second round of a recall of its vehicles affected by the diesel emissions scandal, a move designed to regain consumer confidence. In an extended recall that began Monday, the South Korean unit of Volkswagen Group will carry out a software update on a total of 82,291 units of its Volkswagen and Audi models equipped with the emissions-cheating 2.0-liter EA189 diesel engine, Audi Volkswagen Korea said in a statement. "The software update for

Sept. 25, 2017

RVs account for more than 50% of all Kia sales in Korea

Kia Motors Corp. said Monday recreational vehicles accounted for more than 50 percent of its overall sales in the January-August period this year. Over the eight months, Kia sold 296,280 passenger vehicles in the domestic market. RVs accounted for 51.7 percent of that total, or 153,255 units, a company spokesman said.Going forward, the country's second-biggest carmaker plans to strengthen its product lineup with upgraded or new RVs to meet growing consumer demand, he said.RVs include sport utili

Sept. 25, 2017

Nissan finds key in efficiency for new Pathfinder

Riding on the higher emphasis of work and life balance in South Korea, Nissan Korea features the new Pathfinder that was first introduced in the market in 2014, when the family-focused sports utility vehicle market was relatively premature.Pathfinder, the Japanese automaker’s representative large seven-seat SUV, is fit for running off-road while securing an increasingly spacious interior, convenient features and strong performance with each generation of the vehicle. Nissan's new Pathfinder (Nis

Sept. 24, 2017

Renault’s New QM3 pays attention to details

Subtle yet sophisticated upgrades in design and closer attention to detail will continue to set Renault Samsung’s New QM3 apart from other small sports utility vehicles, the company said.The South Korean unit of French carmaker Renault had launched the revamped QM3 in July this year in hopes of continuing its QM3 popularity since 2013.Renault Samsung's New QM3 (Renault Samsung)The New QM3 comes with a unique interior with upgraded details, according to the company. Eco-friendly thermoplastic ole

Sept. 24, 2017

[Behind the Wheel] Genesis G70: more than a sports sedan

It all started with one question: Is the Genesis G70 comparable to a BMW 3 series or an Audi A4? Will it break the German dominance of the compact luxury sedan segment? Undoubtedly, the Genesis G70 is designed to fit into the arena of luxury sedans and targets the same customer category as those who are considering a Mercedes C Class sedan, rather than a specific age or gender group. But the biggest reason to pick the G70 over its German rivals can be summed up in two words: It’s different.The G

Sept. 24, 2017

Tesla Model S 90D to receive subsidies in Korea

The Ministry of Environment has finalized subsidies for Telsa Model S 90D sedans based on eased regulations for the total time it takes to fully charge the electric vehicle, the ministry said Friday. Prior to the change in July, the 14 million won ($12,319) central government subsidy and provincial government subsidy was limited to electric vehicles that take less than 10 hours per charge.Subsidies offered by each provincial government differs, ranging from 3 million to 12 million won. Seoul cit

Sept. 22, 2017

Audi Volkswagen Korea appoints new head

Audi Volkswagen Korea, the domestic distributor of the two German brands, named Rene Koneberg, the former managing director of Audi Hong Kong and Macau, as its new group managing director, the company said Friday. Koneberg replaces Johannes Thammer, who left for Germany in June, a month before his term in Seoul was to end on July 31. The Korean branch of the German carmaker was being led by two leaders including Thammer and Marcus Hellmann. Hellman, the co-group managing director, will continue

Sept. 22, 2017

Chinese drivers highly satisfied with Hyundai, Kia

Chinese motorists report a high level of satisfaction with vehicles and service provided by Hyundai Motor and Kia Motors, according to a survey by China Association for Quality.Beijing Hyundai topped the sales service category in this year’s China Automobile Customer Satisfaction Index jointly with SAIC Volkswagen and GAC Toyota for the fourth consecutive year, the company said Thursday.Despite Korea’s frosty ties with China, Dongfeng Yueda Kia also came third in the sales service category. Rela

Sept. 21, 2017

Hyundai Motor Genesis G70 sees brisk sales start

Hyundai Motor has received a total of 2,100 orders for its newly launched Genesis G70 sports sedan in the first day of sales on Wednesday, the company said Thursday.This is around 42 percent of this year’s sales target of 5,000 units, and threefold the average monthly sales of other European rivals last year in premium vehicle market. Hyundai Motor's Genesis G70 (Hyundai Motor)Following the launch, Hyundai Motor aims to sell 15,000 units next year here in Korea.Hyundai Motor as well plans to lau

Sept. 21, 2017

Kia expects to shift to operating loss in H2

Kia Motors Corp. said Thursday it expects to swing to an operating loss in the second half of this year due to declining sales and huge one-off costs. In the first half, the affiliate of Hyundai Motor Co. already suffered a 44 percent on-year decline in operating profit to 786.8 billion won ($695 million) largely affected by sharp sales declines in China amid bilateral diplomatic rows. As it plans to reflect 1 trillion won worth of one-off expenses in its third-quarter bottom line, Kia Motors sa

Sept. 21, 2017

SK Telecom tests self-driving automobile on highway

SK Telecom Co. said Thursday it successfully tested its self-driving automobile on the highway, taking a step closer toward the development of a full autonomous vehicle.South Korea's No. 1 mobile carrier said its self-driving automobile ran 26 kilometers earlier in the day with an average speed of 47 km/h from Seoul to Suwon with two passengers on board. (Yonhap)The maximum speed of self-driving cars in South Korea is currently set at 80 km/h.SK Telecom said the car increased its speed only when

Sept. 21, 2017

Hyundai to export 500 Xcient trucks to Indonesia

Hyundai Motor, South Korea’s leading automaker, said Wednesday it sealed a deal with Hyundai Oto Komersial Indonesia to supply 500 units of the Xcient heavy truck. The volume of the latest deal is Hyundai’s biggest for trucks, the company said.Hyundai Motor said it would aim to expand its presence in Indonesia’s commercial vehicle market, which is currently monopolized by Japanese commercial vehicle brands.Lee In-cheol (left), senior vice president of Hyundai Motor's commercial vehicle export di

Sept. 20, 2017

LG Chem, Proterra announce co-development of new battery cell

LG Chem and Proterra, a California-based heavy-duty electric transportation manufacturer, announced on Wednesday the co-development of new battery cells. Proterra reported that its zero-emission bus model Catalyst E2 has succeeded traveling 1,772 kilometers at low speed on a single charge of batteries provided by LG Chem. The result is 83 percent further than the record of 970 km that Proterra achieved in a long-range test a year ago, it said.  Proterra‘s Catalyst E2 (Proterra)With passengers on

Sept. 20, 2017

Sales of new Genesis G70 sports sedan starts in Korea

Hyundai Motor Co. said Wednesday that sales of its Genesis G70 sports sedan have begun in its home market, as the company gears up for the car's global rollout early next year.The G70, the third sedan in the revamped Genesis lineup, is designed to not only help the South Korean carmaker make its presence felt in the luxury car market, but effectively end its drought of competitiveness in the sport utility vehicle field."The new car will help the independent Genesis brand grow and expand further,

Sept. 20, 2017

Hyundai could become world’s No. 1 with FCA merger: report

Market rumors are circulating that Hyundai Motor is looking to acquire the world’s seventh-largest auto manufacturer Fiat Chrysler Automobiles despite the automaker’s vehement denial. And a local analyst said Tuesday that Korea’s largest auto company would leap forward to become the world’s No. 1 if the deal goes through.Lee Jae-il, an analyst in charge of automobiles at Eugene Investment & Securities, said in a report that Hyundai Motor would benefit from the acquisition due to an expanded port

Sept. 19, 2017

Korean car sales keep sliding in China

The sales of South Korea’s two largest automakers, Hyundai Motor and Kia Motors, continued to plunge in China last month amid growing competition in the local market, as well as the prolonged political tension between China and South Korea over the deployment of a US missile defense system.Hyundai Motor and its sister company Kia Motors last month sold a total 76,010 vehicles in China, compared to 124,116 units in August last year, according to the companies’ data. Hyundai Motor’s sales in Augus

Sept. 17, 2017

[Behind the Wheel] Renault Samsung’s new SUV caters to urban driving

Renault Samsung Motors, the South Korean unit of French carmaker Renault, has released a gasoline-powered version of its popular QM6 midsize SUV, targeting drivers who drive in the city and prefer SUVs, the company said Sunday. The press took the QM6 GDe gasoline model for a test drive from Gyeongwonjae Ambassador Incheon to Grand Hyatt Incheon, totaling 60 kilometers earlier this month.Before the test drive, CEO of Renault Samsung Motors Park Dong-hoon told reporters, “SUVs are no longer for pe

Sept. 17, 2017

Hyundai Motor names new CEO of US unit

Hyundai Motor Co. has named Lee Kyung-soo the new chief executive of its American unit, a post that had been vacant for nine months, according to the company's website on Saturday.    Lee, 61, joined Hyundai in 1982 and most recently served as chief executive of Hyundai Translead, a US affiliate of Hyundai Motor that produces dry and refrigerated van trailers and container chassis, Hyundai Motor's US unit said in a statement posted on its website.     Lee Kyung-soo, newly appointed CEO of Hyunda

Sept. 16, 2017

Genesis G70 sedan to rival premium European brands

HWASEONG, Gyeonggi Province -- Genesis, a luxury auto brand spun off from South Korea’s Hyundai Motor, unveiled its third model, the G70 sedan, with aims to expand its presence in the high-end segment, the company said Friday. 　Amid Hyundai’s weak performance at home and in the US, Genesis premium cars have been gaining popularity, which makes the first G70 sedan rolled out under the independent Genesis brand an important model. (From left) Lee Sang-yup, head of Genesis Styling, Luc Donckerwolke

Sept. 15, 2017