Kia Stinger similar in performance, competitive in prices vs German rivals

The Stinger sports car, set to be launched by Kia Motors Corp. Tuesday, is competitive in prices and fuel efficiency compared to German vehicles, industrial data showed Sunday.Kia's first sports sedan, which will carry an independent Stinger badge without the KIA logo, is similar in performance and fuel efficiency to its German rivals, showed data collected by Yonhap News Agency.The Stinger will be available with three engine options -- a 2.0 turbo, a 3.3 twin-turbo, and a 2.2 diesel engine -- a

May 21, 2017

BMW, Mercedes-Benz sell more cars in Korea than Japan

German carmakers BMW and Mercedes-Benz sold more vehicles in South Korea in the January-April period compared to Japan, an industry association said Sunday.Vehicle sales by BMW and Mercedes-Benz jumped 48 percent and 32 percent year-on-year, respectively, to 18,115 and 24,877 units in the Korean market during the first four months, showed data from the Korea Automobile Importers and Distributors Association. In Japan, BMW's sales rose 2.2 percent to 15,818 units and Mercedes-Benz's increased 0.7

May 21, 2017

Automakers bet on SUVs in Korea amid strong demand

Carmakers are betting on sport-utility vehicles in the South Korean market amid strong consumer demand, industry insiders said Friday. In the next two to three years, local and foreign carmakers have plans to introduce a series of premium SUVs to reflect the popularity of recreational vehicles, according to the Korea Automobile Manufacturers Association and the Korea Automobile Importers and Distributors Association.  Genesis' GV80 concept car unveiled at New York Motor Show last month (Yonhap)"

May 19, 2017

Hyundai Motor denies transitioning into holding company

Hyundai Motor, South Korea’s leading automotive company, on Friday officially denied a local news report that it is planning to convert into a holding company next week.Local news outlet Maeil Business Newspaper had reported that Hyundai Motor Group will hold a board member meeting next week to introduce a holding company structure.“The report that Hyundai Motor will convert into a holding company next week is not true,” said the spokesperson of Hyundai Motor Group.(Yonhap)Following Hyundai’s of

May 19, 2017

Kia launches upgraded K3 subcompact

Kia Motors Corp. on Thursday launched an upgraded K3 subcompact to attract customers with more features and simplified trims.The 1.6-liter K3 subcompact went on sale in the domestic market earlier in the day, the country's second-biggest carmaker said in a statement. Kia`s K3 subcompact (Courtesy of Kia Motors) (Yonhap)Kia reduced the number of trims of the diesel-powered K3 to four from six and of the gasoline version to three from six. It added improved features such as 16-inch alloy wheels an

May 18, 2017

Audi Volkswagen Korea waiting to resume sales

Audi Volkswagen Korea, a local importer and distributor of German auto brands, is still waiting for government authorization of its Audi and Volkswagen models, but it has resumed sales of its luxury Bentley cars, the company said Thursday.Audi Korea’s request for government approval this month has led the auto industry to expect it to resume sales here in the third quarter of this year, as it took about 1 1/2 months for the Ministry of Environment to approve of Bentley, according to local report

May 18, 2017

Hyundai launches hybrid version of latest Sonata

Hyundai Motor Co. has launched the hybrid version of its latest Sonata sedan to diversify its lineup, the company said Thursday. The Sonata New Rise Hybrid went on sale earlier in the day in the domestic market with a lifetime battery warranty, 10-year/200,000-kilometer warranty on parts for hybrid vehicles and a guarantee of 62 percent of its value after three years, Hyundai said in a statement.  Hyundai`s Sonata New Rise Hybrid (Courtesy of Hyundai Motor) (Yonhap)The 2.0-liter hybrid sedan mat

May 18, 2017

Korean parts makers acquire plants in Hungary

Two South Korean auto parts companies have acquired plants in Hungary in a move to better supply their products to major customers, a trade promotion agency said Thursday.Shinheung SEC and Youngshin Components have recently wrapped up the process to separately acquire local manufacturing facilities near Hungary's capital city of Budapest to produce car battery and air conditioner compressor parts, respectively, the Korea Trade-Investment Promotion Agency KOTRA said in a statement.Hungary plant a

May 18, 2017

Hyundai to install partial self-driving features in all models

Hyundai Motor and Kia Motors, South Korea’s two leading automakers, plan to expand autonomous active safety features to low-end compact cars, a company official said Wednesday.“Active safety is thought of as the highest level in autonomous driving. It should not be limited to certain people. It should be applied to not only luxury cars also to low-end compact car models,” Lee Jin-woo, the head of Hyundai Motor’s Intelligent Safety Technology Center, said at a conference held to celebrate the 30t

May 17, 2017

SsangYong Motor reenters Saudi Arabia after a 4 year absence

SsangYong Motor Co., the South Korean unit of India's automaker Mahindra & Mahindra Ltd., said Wednesday it has reentered Saudi Arabia after a four-year absence, as part of its efforts to expand into the Middle East market.The sport utility vehicle-centered carmaker withdrew from the oil rich country in 2013 but the following year it began preparations to reenter it, a company spokesman said, without giving the reasons of the withdrawal.   (Yonhap)Four years ago, local dealerships reportedly sto

May 17, 2017

Hyundai, Kia sell more plug-in hybrid EVs overseas

Hyundai Motor Co. and Kia Motors Corp., South Korea's two biggest carmakers, said Wednesday they have sold more plug-in hybrid electric vehicles in overseas markets this year due to good consumer demand for the latest green cars.In the January-April period, Hyundai and its sister company Kia exported a combined 2,090 PHEVs mainly to advanced markets where ctomers' environmental awareness is relatively high compared with less developed countries, according to the companies' data.  A model poses w

May 17, 2017

Hyundai targets commercialization of electric bus next year

Hyundai Motor, South Korea's biggest carmaker by sales, said Tuesday it will unveil a new bus fully powered by electricity this month with the aim of getting it on the streets in 2018.As the government plans to sharply increase the number of charging stations across the country in the coming years, Hyundai will field the emission-free bus in the domestic market, the caremaker said in a statement. "Previously, we launched two versions of the 'zero-emission' electric bus but it was not successful

May 16, 2017

Korea's auto exports jump 11.6% in April

South Korea's auto exports gained ground for three straight months in April on increased global demand, government data showed Tuesday.The total value of vehicles shipped overseas reached $3.89 billion last month, up 11.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The number of exported vehicles advanced 7 percent on-year to 242,416 units in April, a turnaround from a 4.7 percent drop the previous month.The trade ministry said a reco

May 16, 2017

Carmakers balk at Moon's pledges against diesel cars

Carmakers on Monday balked at President Moon Jae-in's pledges against diesel-powered vehicles, citing no alternatives to the fuel-efficient cars particularly for businesses. During the campaign, President Moon vowed to fully remove diesel-fueled vehicles from the street by 2030 to help sharply reduce air pollutants. He said his government will reduce fine dust emissions from diesel cars by more than 30 percent during his five-year term that began Wednesday.    (Yonhap)But automakers, at home and

May 15, 2017

India rises as lucrative market for Korean automakers

South Korea’s automotive companies are joining other global automakers in flocking to India, the world’s fifth-largest automobile producer, as they seek opportunities for growth.In a bid to foster sales there, Kia Motors, South Korea’s No. 2 automaker, recently shared plans to invest 1.2 trillion won ($1.1 billion) in India to build a factory that will produce localized SUVs during last month’s conference call.  (Yonhap)“India is a new cash cow for automakers. Compact SUVs are currently best-sel

May 15, 2017

Kia launches country's first SUV plug-in hybrid

Kia Motors Corp., South Korea's second largest carmaker by sales, on Monday launched the country's first plug-in hybrid sport utility vehicle model.The Niro plug-in hybrid can travel up to 840 kilometers -- 40 kilometers on a single charge and 800 km on a combined gasoline-battery drive. The 1.6-liter engine model has 141 horsepower on tap and 27.0 kilogram-force meters of torque, the company said in a statement.  (Yonhap)The model is priced at 33 million won and 35 million won ($29,400-$31,100)

May 15, 2017

Korea EV sales soar in Q1 on prices, infrastructure

All-electric vehicle sales in South Korea posted a nearly ninefold jump in the first quarter on improving infrastructure and reasonable prices, industry associations said Monday. Carmakers sold a combined 1,729 electric vehicles in the January-March period, soaring from 193 a year earlier, according to data offered by the Korea Automobile Manufacturers Association and the Korea Automobile Importers and Distributors Association.  (Yonhap)South Korea's electric car market looks pale before three b

May 15, 2017

Korean companies make progress in autonomous driving tech

South Korean companies in various industries are speeding up development of self-driving systems to gain a foothold in the lucrative sector.SK Telecom, South Korea’s top mobile carrier, is the latest, announcing Sunday plans to initiate a pilot run of autonomous driving using its high-definition 3-D maps within this year.It has signed a business agreement on self-driving with US-based graphics chip maker Nvidia, and has begun development of the map system, the company said. The HD 3-D maps are a

May 14, 2017

Hyundai, Kia Motor accept forced recall

Hyundai Motor and Kia Motors, South Korea’s leading two automotive companies, announced they will comply with a forced recall ordered by the government, the companies said Friday.The Ministry of Land, Infrastructure and Transport has ordered the recall of some 240,000 vehicles across 12 models, including Hyundai Motor’s luxury Gensis and Equus sedans and best-selling Avante compact sedans due to faulty auto parts and manufacturing defects.  (Yonhap)“Our company has explained the five cases, whic

May 12, 2017

Audi Volkswagen's Tiguan recall goes smoothly: sources

Audi Volkswagen's recall of its Tiguan compact SUV in South Korea has been going without a hitch with the recall rate reaching more than 30 percent for the first three months, industry sources said Friday.In January, the Seoul government allowed Audi Volkswagen Korea, the local importer and distributor of the German brands, to recall some 27,000 Volkswagen Tiguan cars sold here for fabricating test results of emissions, noise and fuel efficiency. (Yonhap)As of May 6, Audi Volkswagen Korea recall

May 12, 2017