Toyota, Lexus offer three-week service discounts

Toyota’s fourth-generation smart hybrid Prius (Toyota Korea)　Toyota Korea announced it will carry out a commemorative service campaign this month for all Toyota and Lexus vehicles in celebration of the cumulative global sales of hybrid vehicles surpassing 10 million units, the company said Monday. 　The two brands’ official dealer service centers will offer customers a 10 percent discount (15 percent for more than two selections) on service and inspections of main hybrid batteries, hybrid auxilia

March 13, 2017

BMW appoints director for new strategic planning team

BMW Group Korea announced Monday its plans to establish a strategic planning team and the appointment of Choi Il-yong as its director. 　Choi has 20 years of experience working as a specialist in business development and strategic planning in the field of information technology, according to BMW. He is slated to take up the post on April 3. He formerly worked for Samsung SDI, IBM Korea and SK Energy. Choi Il-yong (Yonhap)　The new strategic planning team is expected to take charge of corporate str

March 13, 2017

BMW Korea takes reservations for BMW i3 94Ah

BMW Korea, the local branch of the German luxury carmaker, has started taking reservations for the upgraded electric car BMW i3 94Ah, the company’s Seoul office said Sunday. The company highlighted the enhanced driving distance of the electric vehicle of up to 200 kilometers on a full charge powered by a 33 kilowatt-hour, 94 ampere-hour lithium battery. The BMW i3 94Ah. (BMW Korea)Three colors -- protonic blue, fluid black and mineral grey -- have been added to the color palette, the company sai

March 12, 2017

Renault Samsung raises prices without official notification: reports

Renault Samsung Motors, the South Korean unit of French automaker Renault S.A., carried out a price hike of up to 750,000 won ($653) across six models without officially notifying customers, according to local reports Sunday. A total of six models -- the SM3, SM5, SM6, SM7, QM3 and QM6 -- underwent a price increase in line with the release of 2017 model-year vehicles, Yonhap News Agency reported. The firm increased the prices of the popular LE and RE trims of its flagship midsize sedan SM6 by up

March 12, 2017

Auto output hits 7-year low this year

South Korea's vehicle production hit a seven-year low in the first two months of the year due to flagging demand in emerging markets, data showed Friday, sparking concerns over the industry's performance for 2017.The country's vehicle output reached 634,073 units in the January-February period, down 3 percent from the previous year and the lowest level since 2010, according to the data by the Korea Automobile Manufacturers Association.This photo, taken on Jan. 2, 2017, shows cars waiting to be l

March 10, 2017

Hyundai Mobis feels the impact of THAAD

Hyundai Mobis, Korea’s biggest auto parts maker, alongside other small and mid-size auto parts companies, is facing the impact of THAAD-related tensions, industry figures showed Thursday.According to the Korea Stock Exchange, Hyundai Mobis closed at 240,500 won ($208) per share Wednesday, down 1.43 percent from a day earlier. The firm’s value dropped some 5 percent this week, following news that China has amplified pressure on Korean businesses that depend heavily on Chinese consumers and those

March 9, 2017

Transport Ministry recalls 97,038 vehicles from 4 carmakers

The Ministry of Land, Infrastructure and Transport has ordered a recall of 97,038 vehicles across 17 models from Renault Samsung Motors, Jaguar Land Rover Korea, Forza Motors Korea and Mercedes-Benz Korea. 　According to the ministry’s press release Thursday, of the overall total, 94,069 Renault Samsung SM6 sedans are being recalled. The Transport Ministry also announced it plans to charge Renault Samsung Motors a fine of roughly 611 million won ($528,000) for violating safety standards.Renault S

March 9, 2017

Hyundai, Kia aiming to up market share with new models

South Korea's top carmaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are striving to boost their domestic market share with new models after suffering a setback last year due to underdogs' strong performances, industry sources said Thursday.The combined market share of Hyundai and Kia, the flagships of Hyundai Motor Group, ticked down to 65.4 percent in 2016 from 67.7 percent the previous year as their three smaller rivals performed better than expected.The downturn continued

March 9, 2017

GM Korea cuts All New Cruze prices to catch up with competitors

GM Korea Co. said Thursday it has lowered the price of its new compact car amid the delay in the production and delivery of the vehicles to address defective airbag parts.The South Korean unit of USautomaker General Motors Co. cut the price range of the All New Cruze models to 16.9 million won ($14,616) and 23.4 million won, down from their earlier price range of 18.9 million won and 24.7 million won.(Yonhap)The original price tags were a bit higher than their competitors, Hyundai Motor Co.'s Av

March 9, 2017

Hyundai seeks to revive Sonata legacy

Hyundai Motor, the nation’s largest carmaker, unveiled a face-lift of the current generation of the Sonata LF on Wednesday, with an aim to revive its once-dominant presence in the midsized sedan category here. The South Korean carmaker applied a dramatic twist to its existing design and added a list of smart features. Calling it Sonata New Rise, the carmaker plans to sell 92,000 units in the local market this year. Lee Kwang-guk, executive vice president of Hyundai Motor’s domestic sales divisio

March 8, 2017

US vehicle emission ease to impact LG Chem

The Trump administration’s latest moves to ease vehicle emissions is expected to deal a blow to local companies involved in electric vehicles such as LG Chem, South Korea‘s leading electric vehicle battery maker, an industry expert said Wednesday.“It is likely that global automakers’ momentum to develop electric vehicles will weaken due to the US government’s decision (to ease regulations),” said Lee Choong-jae, an analyst from KTB Investment and Securities.Lee added that LG Chem, for one, will

March 8, 2017

[News Focus] Driving closer to being a chore of the past

A mere three years from now, the public can expect to see fewer manually driven cars on the road.  　Autonomous technology has become the new wave of the future for the automotive industry, as worldwide sales of self-driving cars are forecast to reach annual sales of 20 million units by the year 2035, according to a report by the Korea Institute for Industrial Economics and Trade.　“The smart car market will expand to a large extent as self-driving cars are expected to hit the road around 2020,” t

March 8, 2017

Full-size cars gain popularity in Korea

Full-size sedans are fast gaining popularity among South Korean motorists with their sales overhauling those of midsize cars in recent months, data showed Wednesday.Domestic sales of full-size cars, including Hyundai Motor Co.'s Grandeur and Kia Motors Corp.'s K7, totaled 16,314 units in February, about 1,500 more than those of Hyundai's Sonata and other intermediate cars, according to the data from the Korea Automobile Manufacturers Association.Hyundai Motor Co.'s all new Grandeur full-size sed

March 8, 2017

SK Networks may merge with AJ Rent-a-car

SK Networks, South Korea’s third-largest car rental provider, is rising as a possible buyer of AJ Rent-a-car, the country’s No. 2 car rental company, local reports said Tuesday.(SK Networks)Since last September, there have been speculations that AJ Networks -- a local construction device and IT equipment rental provider -- might sell 45.38 percent of shares in its rental service unit. “It is highly likely that that the proceeds from the LPG business disposal will be earmarked for rental car busi

March 7, 2017

Hyundai unveils new fuel cell concept car at Geneva Motor Show

South Korea's top automaker Hyundai Motor Co. introduced its new green concept car, the FE, at the Geneva International Motor Show on Tuesday, also bringing more than 10 other cars for the world to see.The FE Concept is a fuel-cell based electric car that is designed to have a maximum driving range of more than 800 kilometers, according to the company.South Korea's leading automaker Hyundai Motor Co. unveils its new futuristic concept car, the FE Fuel Cell Concept, at the 87th Geneva Internation

March 7, 2017

Suncore launches BYD’s electric bus in Korea

Suncore said Tuesday it has launched the electric bus “eBUS-12” manufactured by China’s electric-car maker BYD.The company, in charge of the electric bus’ distribution here, held a launching ceremony attended by officials of the Environment Ministry and relevant industries.  BYD’s eBUS-12 (Suncore)The eBUS-12 has greatly reduced the costs of maintenance through highly efficient battery that does not have to be exchanged as often as before to last as long as 11 years, Suncore explained. It has al

March 7, 2017

Imported auto sales rise 3.5% in Feb.

Sales of imported cars in South Korea gained 3.5 percent from a year earlier last month, partly due to a steady advance by Mercedes-Benz, market data showed Tuesday.The number of newly registered imported vehicles here came to 16,212 in February, compared to 15,671 in the same month last year, according to the data from the Korea Automobile Importers and Distributors Association.Dimitris Psillakis, CEO of Mercedes-Benz Korea, holds a press conference at a Seoul hotel on Jan. 16, 2017, announcing

March 7, 2017

Hyundai, Kia showcase European styling, green cars at Geneva Motor Show

South Korea's Hyundai Kia Automotive Group said Tuesday it showcased several eco-friendly vehicles at this year's auto show in Geneva, Switzerland, wooing European customers sensitive to the environment and fuel efficiency.Hyundai Motor Co. said it has introduced a new i30 wagon, a European-style wagon derived from the i30 compact hatchback, at the Geneva International Motor Show at Palexpo, Geneva, which opened Tuesday and will run through Sept. 19.The Hyundai i30 wagon (Hyundai Motor)Hyundai i

March 7, 2017

Genesis picked as top brand among local cars

The Genesis, a separate premium brand of South Korea's top automaker Hyundai Motor Co., has won this year's best brand ranking among local cars for the first time, a survey said Tuesday.Brandstock, a South Korean market research firm that determines the rankings of local brands, said in its latest survey that the Genesis got 873.7 points on a scale of 1,000 in terms of its Brand Stock Top Index, topping this year's car brand ranking.The Genesis EQ900 (Hyundai Motor Co.)It represents a marked ris

March 7, 2017

German automakers to join new vocational program

The Korea-German Chamber of Commerce and Industry, in cooperation with Mercedes-Benz Korea and BMW Group Korea, announced the launch of Germany’s advanced vocational training system “Ausbildung” here Monday. 　The German educational program in Korea is an on-the-job training and academic system geared toward nurturing technical professionals, particularly young students interested in pursuing careers in the automotive industry. 　“The dual education training system has a very long tradition in Ger

March 6, 2017