SsangYong aims to sell 20,000 G4 Rexton SUVs this year

SsangYong Motor Co. said Tuesday it is aiming to sell 20,000 units of the G4 Rexton sport utility vehicle (SUV) this year in the domestic market. "We expect the G4 Rexton SUV will boost our bottom line in coming quarters as our Tivoli crossover helped us turn around last year," SsangYong Motor officials said in a press conference. (Yonhap)SsangYong Motor unveiled the new SUV during the Seoul Motor Show held last month near Seoul. Parent Mahindra Group Chairman Anand Mahindra said he was "confide

April 25, 2017

Hyundai lowers prices of i30 hatchback to boost sales

Hyundai Motor Co. has lowered the prices of its i30 hatchback models to attract customers amid tougher competition from rivals, the carmaker said Thursday. Hyundai Motor has cut the mainstay hatchback's sticker price by 250,000 won to 1.25 million won ($219-$1,097) in the domestic market, South Korea's biggest carmaker by sales said in a statement.  Hyundai's i30 hatchback. (Hyundai Motor)The carmaker has also reduced the number of trims for the car from nine to five. It cut the trims for the 1.

April 20, 2017

Mercedes-Benz launches new GLC Coupe

Mercedes-Benz Korea, the local unit of the German automaker, has rolled out its seventh premium SUV, the new GLC Coupe, with an aim to expand its presence in the local SUV market, the automaker said Thursday.“With the new GLC Coupe, Mercedes-Benz has the world’s widest range of premium SUVs,” said Dimitris Psillakis, president and CEO of Mercedes-Benz Korea at a launch event in Seoul. The new GLC Coupe. (Mercedes-Benz Korea)The automaker highlighted the new GLC Coupe’s dynamic design with a 76 m

April 20, 2017

Hyundai Mobis begins lamp production in Czech plant

Hyundai Mobis Co., South Korea's leading auto parts maker, said Wednesday that it has begun production of head and rear lamps at its Czech Republic plant to supply the core parts of a vehicle to its affiliates Hyundai Motor Co. and Kia Motors Corp.Hyundai Mobis has spent 140 billion won ($123 million) on the plant that is capable of producing head lamps for 750,000 vehicles and rear lamps for another 750,000 units annually, the company said in a statement. (Yonhap)The value-added auto parts will

April 19, 2017

Hyundai, Kia to promote new SUVs in Shanghai

Hyundai Motor Co. and Kia Motors Corp., South Korea's two biggest carmakers, plan to promote China-oriented crossovers at the Shanghai auto show, a move aimed at absorbing growing demand for sport-utility vehicles (SUVs).In the 2017 Shanghai International Automobile Industry Exhibition, open to the public from April 21-28, Hyundai Motor will debut its ix35 and its sister company Kia will reveal the K2 Cross.The two are SUV models tailored from the outset to satisfy the needs of Chinese consumers

April 19, 2017

Kia in final stage of talks to build plant in India: official

Kia Motors Corp., South Korea's second-biggest carmaker by sales, is in the final stage of talks with India over the building of its first plant in the fast-growing automobile market, a company official said Wednesday. "We have searched for the right site for the Indian plant for the past two years. The talks (with a regional authority in India) are in the final stages," a Hyundai Motor Group official told Yonhap News Agency by telephone.  (Yonhap)Kia Motors and Hyundai Motor Co. are key affilia

April 19, 2017

Kia launches turbo direct-injection Morning city car

Kia Motors Corp. on Tuesday launched the all-new turbo-charged Morning city car to offer more options to customers. Kia Motors has added two new choices to the carmaker's existing 1-liter gasoline-powered Morning: one with a powerful turbo direct-injection engine and the other that has a liquefied petroleum gas injection mill, the carmaker said in a statement.Kia's Morning mini car (Kia Motors)The car is sold as the Picanto in some overseas markets.The Morning with a less powerful turbo engine i

April 18, 2017

Kumho Asiana chief passes on Kumho Tire buyback for now

Kumho Asiana Group Chairman Park Sam-koo confirmed Tuesday that he will not exercise the right of first refusal on the sale of a controlling stake in Kumho Tire. Calling the process of selling led by state-run Korea Development Bank “unjust and unfair,” Kumho Asiana said it will “no longer participate in the sale.” Kumho Asiana Group Chairman Park Sam-koo. (Yonhap)This decision means the 42.01 percent controlling stake in Kumho Tire will be sold to Chinese tire maker Doublestar, which signed a s

April 18, 2017

Kia Motors to build its 5th overseas plant in India

Kia Motors, South Korea’s second-largest auto manufacturer, is waiting to seal an agreement with the Indian government to build its fifth overseas factory there, the automaker said Tuesday. “For the most part, reports (of the fifth factory) released so far are true. We will soon sign an investment agreement with the Indian government,” said a Hyundai Motor Group spokesperson.Earlier in the day, India-based news outlet Economic Times reported that the new plant will be located in India’s southeas

April 18, 2017

Hyundai adds 'Extreme edition' to Tucson SUV lineup

Hyundai Motor Co. on Tuesday launched the "Extreme edition" of the Tucson sport-utility vehicle fitted with premium features as part of its effort to strengthen its lineup.The 2.0-liter, diesel-powered Tucson SUV's exterior contains a dark chrome radiator grille, dual twin-tip mufflers, a rear skid plate, 19-inch wheels and front disc brakes that can allow drivers to hit the road with confidence, the company said in a statement. In terms of interior features, red-brown color leather seats and a

April 18, 2017

Korea's auto exports rise for two straight months in March

South Korea's auto exports rose two months in a row in March on increased global demand for green cars, government data showed Tuesday.The total value of autos shipped overseas reached $4.12 billion last month, up 4.1 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. (Yonhap)But the number of exported vehicles dropped 5.1 percent on-year to 246,816 units last month.The trade ministry said exports of electric and hybrid cars led the uptick

April 18, 2017

Renault's Clio to hit Korea in August: official

French carmaker Renault SA is planning to launch the supermini Clio hatchback in South Korea in August to absorb "pent-up" demand here for small and fuel-efficient vehicles, a company official said Monday. "South Korean customers appear to be fed up with similar designs and lack of features in the existing subcompact vehicles. Renault's Clio hatchback (Yonhap)As we have judged, there is demand for a small but powerful and premium hatchback, we will place the Europe-made Clio in the Korean market

April 17, 2017

Genesis releases 2017 EQ900

Hyundai Motor’s luxury brand Genesis released the 2017 EQ900 sedan Monday, emphasizing the model’s upgraded convenience.Options that had previously been applied to higher trims are now being installed in lower trims, the firm said. Genesis 2017 EQ900 sedan (Hyundai Motor Group)An electric glass curtain has been installed in the back seat of all the vehicles. The model is also equipped with an electric trunk, along with a high performance air condition filter.The 2017 EQ900 sedan has a price rang

April 17, 2017

‘Kia’s continued struggles lead to dim Q1 outlook’

The overall first-quarter outlook for Kia Motors remains dim, with analysts lowering its target stock price and predicting decreased earnings. “Kia Motors is facing difficulties in major markets such as the US, China and at home. Adversities have most likely led to a poorer performance than market expectations,” said Lee Myung-hoon, an analyst at HMC Investment and Securities.  (Yonhap)“The ongoing wage lawsuit at home, uncertainty surrounding operations at the Mexico factory and other negative

April 17, 2017

Mercedes-Benz Korea moves to foster Korean tech leaders

In celebrating its 130 years of leading the automotive industry with innovative technologies, Mercedes-Benz Korea is working to expand its contribution to pass on its technology prowess and foster young talents.Early last month, Mercedes-Benz Korea signed a memorandum of understanding to support the launch of the Ausbildung program in Korea, in cooperation with the Korean-Germany Chamber of Commerce and Industry. Students attend an Automotive Mechatronic Traineeship program offered by Mercedes-B

April 16, 2017

[Behind the Wheel] Bigger, tougher New Mini Countryman

The second-generation all-new Mini Countryman is a sport activity vehicle designed mainly for those in their 30s and 40s with families who enjoy outdoor activities.BMW Group Korea has set its sales target for the iconic British marque at 10,000 units in 2018. It sold 8,632 units here last year. The second-generation all-new Mini Countryman. (BMW Group Korea)　Members of the media had an opportunity to take the latest model out for a 38-kilometer test drive around the BMW Driving Center in Incheon

April 16, 2017

Korean automakers’ domestic sales exceed W40tr for first time

Domestic sales of Korea’s top five local automakers surpassed 40 trillion won ($35.2 billion) for the first time last year, according to industry reports Sunday. 　Local carmakers including Hyundai Motor, Kia Motors, Korea GM, Renault Samsung, and SsangYong Motor posted domestic sales of roughly 41.17 trillion won last year, a 7.7 percent on-year jump compared to 2015.　Both Hyundai and Kia exceeded the 10 trillion won mark, with Hyundai’s sales standing at 19.3 trillion won, while Kia raked in 12

April 16, 2017

Ford, Mitsubishi ordered to recall faulty parts

Ford Motor Co. and Mitsubishi Motors Corp. have been ordered to recall faulty parts in more than 1,000 models in South Korea, the country's transport ministry said Friday. This is part of a broader recall order recently delivered by the Ministry of Land, Infrastructure and Transport in the South Korean automobile market. (Yonhap)Ford Motor and Mitsubishi Motors plan to recall a combined 1,016 units of two vehicles -- the Ford Mondeo sedan and Mitsubishi Pajero sport utility vehicle -- for valve

April 14, 2017

Korea midsize car sales regain lost ground on Sonata facelift

Sales of midsize vehicles exceeded those of large-size cars in March after losing ground for the past previous months, helped by strong demand for Hyundai Motor Co.'s facelifted Sonata sedan, industry data showed Thursday. In March, the country's five carmakers -- Hyundai Motor, Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 20,169 midsize vehicles, compared with 19,889 large-size vehicles sold last month, according to data offered by the

April 13, 2017

Volkswagen execs deny wrongdoing at first court hearing on emissions scandal

Attorneys for former and current executives of Volkswagen's South Korean unit implicated in an emissions cheating scandal denied their involvement during the first court hearing on Thursday.After a year-long investigation, prosecutors indicted Johannes Thammer, who led Audi Volkswagen Korea (AVK) from late 2012, on charges of violating the Clean Air Conservation Act to win sales approval from local authorities. This file photo taken on Feb. 19, 2016, shows the Seoul headquarters of Audi Volkswag

April 13, 2017