[Monitor] 30s purchase less cars

Customers in their 50s have become one of the major purchasers of automobiles, while those in their 30s bought less, data from the Korea Automobile Manufacturers Association showed Thursday.Thirty-somethings bought a total of 144,360 vehicles in the first half of this year, dropping by 11.1 percent compared to the same period last year. Those in their 30s made up 18.2 percent of the total number of buyers, down 1.8 percentage points on-year.The percentage has continued to decline. The associatio

Sept. 14, 2017

Kia Motors hires former BMW designer Pierre Leclercq

Kia Motors, South Korea’s No. 2 automaker, hired former BMW designer Pierre Leclercq as part of its continued efforts to bolster the design quality of its vehicles, the company said Thursday.Leclercq previously worked as the head designer of BMW’s high performance M brand before moving to his latest post at Chinese automaker Great Wall Motors in 2013.“From the end of this month Leclercq will join Kia Motors where he will work with Chief Design Officer of Hyundai Motor Group Peter Schreyer, and h

Sept. 14, 2017

Young people's auto purchase dips on budget, car sharing: data

Young people in their 20s and 30s here have been buying fewer cars in recent years as they have difficulty finding jobs and car-sharing services here are more appealing to them, industry data showed Thursday.Those in their 30s bought a total of 144,360 vehicles in the first six months this year, down 11.1 percent from 162,422 a year earlier, according to the statistics by the Korea Automobile Manufacturers Association. The figure accounts for 18.2 percent of 793,987 units, the total newly regist

Sept. 14, 2017

Fiat Chrysler, Mercedes-Benz to recall 4,419 vehicles

Fiat Chrysler Automobiles and Mercedes-Benz will recall over 4,000 vehicles sold in South Korea to replace faulty parts in air bags and seat belts, the transport ministry said Thursday. Fiat Chrysler must check 3,856 vehicles belonging to three models -- the Jeep Compass, Chrysler Sebring and Dodge Caliber -- over concerns that the air bag and seat belt pretensioners may not work correctly during an accident. The Italian carmaker is also recalling 288 Fiat Freemont SUVs to replace wires that cha

Sept. 14, 2017

Carmakers to woo compact SUV customers with various colors

While Korean carmakers are set to attract customers with small sport utility vehicles of various colors, Renault Samsung Motors’ QM3 has increasingly been standing out as the front-runner in terms of color options offered. Since the launch of the model, the automaker has been providing different color options for the roof and body of the vehicle, as well as leather seat covers that are also available in orange, blue and black. Renault Samsung Motor’s compact sport utility vehicle QM3 (Renault Sa

Sept. 13, 2017

GM Korea’s labor-management wage talks fall through

The new CEO of GM Korea Kaher Kazem’s first wage talks with the labor union were canceled at the last minute due to procedural problems, the company said Wednesday.The thwarted negotiation was anticipated to provide the new chief with a breakthrough amid persisting wage disputes.In the last meeting with unionized workers in late July, before his inauguration, Kazem vowed to improve labor-management relations.“I understand that GM Korea has produced an accumulated 10 million units,” he said at th

Sept. 13, 2017

Aug. sales of imported commercial vehicles fall 20%

The sale of imported commercial vehicles in South Korea fell 20 percent in August from a month earlier due to lower demand, an industry association said Tuesday. Five foreign commercial vehicle companies -- MAN Truck & Bus Korea, Daimler Trucks Korea, Volvo Trucks Korea, Scania Korea and Iveco -- sold a combined 302 vehicles in August, down from 378 in the previous month, the Korea Automobile Importers and Distributors Association said in a statement. (Yonhap)In the January-August period, the fi

Sept. 12, 2017

Hyundai unveils new SUV, performance models in Frankfurt

Hyundai Motor Co. has unveiled a new subcompact crossover and high-performance vehicles at the Frankfurt Motor Show, a move to expand into the European markets, the company said Tuesday.In a media event ahead of the formal launching of the event that runs from Sept. 14 through 24 (local time), Hyundai Motor showcased 14 models, including its latest subcompact SUV Kona and the high-performance car i30N, the company said in a statement. On top of the 14 car models introduced to the media, five mor

Sept. 12, 2017

Hyundai, Kia suspend Alabama plant due to hurricane

Hyundai Motor and its sister company Kia Motors said Tuesday that they have decided to suspend the operation of their production facilities in Alabama to prevent possible damages from hurricane Irma.Production will be halted for two days starting Sept. 14, the company said. Global headquarters of Hyundai Motor Co. and Kia Motors Corp. in southern Seoul. (Yonhap)“Suspension of plant operations is a precautionary measure taken to prevent possible damages from a natural disaster,” the company said.

Sept. 12, 2017

SsangYong Motor aims to sell 6,000 units of G4 Rexton in Europe next year

SsangYong Motor CEO Choi Johng-shik (first row, third from right) and reporters covering automobiles, who participated in driving the company‘s large-size G4 Rexton SUV across 10 Eurasian countries, in joy after arriving at their final destination Wiesbaden, Germany earlier this week. (SsangYong Motor)SsangYong Motor, the local unit of India’s Mahindra & Mahindra, set next year’s target sales for the large-size G4 Rexton SUV at 6,000 units in the European market, its CEO Choi Johng-shik said Tue

Sept. 12, 2017

Korea's auto exports jump in Aug.

South Korea's auto exports rose sharply last month on the back of rising demand from North America and Europe, government data showed Tuesday.The total value of vehicles shipped overseas reached $2.84 billion last month, up 23.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.The number of vehicles shipped abroad also soared 24.1 percent on-year to 174,363 units in August, compared to a 5.1 percent rise in the previous month. (Yonhap)A to

Sept. 12, 2017

Hyundai, Kia suspend US plants to avoid damage from Irma

Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea's two biggest carmakers, will temporarily shut down their plants in the United States to avoid any damages from Hurricane Irma, the companies said Monday.Hyundai Motor will suspend operation of its Alabama plant for two days from 4:45 a.m. on Sept. 12 (US time) and Kia Motors will also stop operation of its Georgia plant for one day from 6:45 a.m. on Sept. 11, a company spokesman said over the phone. The plants will be suspended a

Sept. 11, 2017

BAIC pressuring Hyundai seen as intended to foster parts unit: report

Hyundai Motor’s headquarters in southern Seoul (Hyundai Motor Group)The latest reports on BAIC Motor hinting that the company might end its joint venture with South Korea’s Hyundai Motor appear to be part of a plan to foster the Chinese company’s parts making unit, a local analyst suggested Monday.Lee Jae-il, an analyst in charge of automobiles at Eugene Investment & Securities, said in a report that there also has been a recent change in the Chinese government’s approach to the auto market and

Sept. 11, 2017

Renault Samsung launches upgraded SM5 sedan without price hikes

Renault Samsung Motors Corp. has launched an upgraded SM5 sedan but didn't raise the price in order to boost sales, the company said Monday.The SM5 midsize sedan powered by a 2.0-liter gasoline engine has been a long-running best seller for the South Korean unit of French carmaker Renault S.A. in the past 20 years. The SM5 is priced at 22 million won ($19,500) in the domestic market.  Renault Samsung Motor`s upgraded SM5 sedan (Photo courtesy of Renault Samsung) (Yonhap)Last week, Renault Samsun

Sept. 11, 2017

Genesis G70's advanced safety features highlighted ahead of launch

Hyundai Motor Co. unveiled an advanced safety feature Monday that will be incorporated in its upcoming luxury G70 model ahead of the sedan's planned launch in South Korea this week.The car, part of the Genesis sub-brand, is a midsize sedan that will go on sale in its home market Friday. It will be exported to Europe this year and the United States next year.The G70 can detect a bicycle in front of it and automatically bring the vehicle to a halt if the driver fails to brake, the carmaker said in

Sept. 11, 2017

LG to show auto-parts tech at motor show in Germany

South Korean firm LG Electronics Inc. said Monday that it would showcase its advanced auto-parts related technology at a motor show to be held in Germany this week.LG Electronics said it would show key auto parts to global automakers during the 2017 Frankfurt Motor Show to be held from Sept. 14 to 17.Since its first participation in the 2014 Beijing Motor Show, LG Electronics has been rolling out crucial auto parts at international motor shows.LG Electronics plans to showcase its AV navigation s

Sept. 11, 2017

Hyundai, Kia to promote subcompact SUVs in Frankfurt

Hyundai Motor Co. and its sister company Kia Motors Corp., South Korea's two biggest carmakers, said Sunday they will promote its subcompact crossovers in the 2017 Frankfurt Motor Show amid growing demand for SUVs in the global market.In the motor show, to be held in the German city from Sept. 14-24, Hyundai Motor and Kia Motors said they plan to lure European customers with the Kona and the Stonic subcompact SUVs, respectively. Hyundai unveiled the Kona to foreign media as well in a June event

Sept. 10, 2017

Hyundai set to miss 2017 sales target amid THAAD woes

Hyundai Motor Co. and its sister company Kia Motors Corp. are set to miss this year's sales target as diplomatic rows with China deepen, company officials said Sunday. In the January-July period, Hyundai Motor and Kia Motors, two key affiliates of South Korea's Hyundai Motor Group, posted a 46 percent on-year slump in sale with total being bought by customers in China standing at 500,964 vehicles from 919,380 units a year earlier. The slump came as Chinese consumers opted to buy fewer South Kore

Sept. 10, 2017

Beijing Hyundai resumes operation of Changzhou plant, but woes persist

Beijing Hyundai Motor's plant in Changzhou, eastern China. (Hyundai Motor Group)Beijing Hyundai Motor, a 50-50 joint venture between Hyundai Motor and Chinese state-owned BAIC Motor, resumed production at Changzhou plant in eastern China on Friday, after a three-day long suspension due to delayed payments to an auto parts supplier.Operations there halted earlier this week when a German-based air filter supplier refused to deliver air intake systems due to unpaid bills.“We are currently in talks

Sept. 8, 2017

Hankook Tire to supply high functioning tires for Audi RS5

Hankook Tire, the nation’s largest tiremaker, will supply its ultra-high-functioning tire Ventus S1 evo2 for Audi’s new RS5 Coupe model, the company said Thursday. The product will be supplied as original equipment tire to German luxury carmaker, it added.It is the second high-spec Audi model to equip Hankook Tire’s Ventus S1 evo2. Hankook Tire has already been supplying the product for the Audi TT. (Yonhap)Winning recognition from the Deutsche Tourenwagen Meisterschaft, a touring car racing ser

Sept. 7, 2017