[AUTOMODE] Volvo Trucks expects to sell 2,500 trucks this year: CEO

Volvo Trucks -- the best-selling foreign brand in the segment in Korea -- expects to sell up to 2,500 trucks this year and eventually hit an annual domestic sales target of 4,000 units by 2020. “To be able to (achieve the target), we need to hire almost twice as many technicians as we have today. We and our private service partners need to continue to invest more in service points. Most important for us is to continue to be No. 1 in customer satisfaction in Korea. That’s the only way to grow to

Nov. 13, 2016

Samsung keeps top spot in US home appliances

Samsung Electronics was the top home appliance maker in the US in the third quarter of this year, with 18.8 percent of market share, the company said Thursday, quoting a study.According to a US-based market tracker Traqline, Samsung’s market share for consumer electronics grew 2.1 percentage points from the previous three months and 4.2 percentage points from the same quarter last year.Visitors take a look at Samsung Electronics’ products during the CES 2016 Consumer Electronics Show in Las Vega

Nov. 10, 2016

Hyundai Motor to build big data center in China

Hyundai Motor, the nation’s largest carmaker, said Wednesday that it will build information technology infrastructure in southwestern China to expand vehicle data processing for the development of self-driving cars and marketing.The carmaker signed a strategic agreement with the Guizhou provincial government Tuesday to build a big data center, with its vice chairman and heir apparent Chung Eui-sun attending the event.  (Yonhap)Hyundai currently has a big data center in Uiwang, north of Seoul. Th

Nov. 9, 2016

Hyundai betting on SUV, EV market in China

South Korea’s largest automakers Hyundai Motor and Kia Motors are expanding production capacity in China, the world’s largest vehicle market, with the aim of meeting growing demand for sport utility vehicles, eco-friendly cars and infotainment services. Hyundai and Kia said they plan to secure production capacity of a total of 2.7 million units -- 1.8 million units from Hyundai and 890,000 units from Kia -- in China by 2017 through its plants in Beijing, Cangzhou and Chongqing.  Hyundai Motor Gr

Nov. 9, 2016

Hyundai, Kia hold 9 of 10 best-selling cars

South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. continue to dominate the local market despite a recent drop in their sales here as they together hold nine of the 10 best-selling cars, data showed Tuesday.The two carmakers form Hyundai Motor Group, the world's fifth-largest automotive group by sales.According to the companies, the Hyundai Avante, sold as the Hyundai Elantra in some parts of the world, was the best-selling car here with 78,253 units sold in

Nov. 8, 2016

Gov't to revise law, allowing mirrorless vehicles

The South Korean government said Monday that it will soon revise the law on vehicle safety to allow camera monitor systems to replace side and rear view mirrors in cars, reducing greenhouse gas emissions, as well as the possibility of accidents.A mirrorless vehicle may save up to 10 percent in fuel as the removal of external side mirrors will reduce wind resistance, according to the Ministry of Land, Infrastructure and Transport.Camera monitor systems may also help reduce the possibility of acci

Nov. 7, 2016

Auto industry likely to lack hit model in 2016

The local auto market is not likely to have a hit model this year that sells over 100,000 vehicles, something that has happened only three times over the past 15 years, industry watchers said Monday.Industry data for 2016 up to the end of October showed Hyundai Motor's midsize sedan Avante sold the most at 78,253 vehicles, followed by Porter, a small truck from the same company, with 78,115.  Hyundai Motor's Porter truck (file photo)Hyundai's Sonata, the model that has been the face of the autom

Nov. 7, 2016

[Behind the wheel] Genesis G80 Sport combines elegance and dynamism

The two previous models of Hyundai’s premium brand Genesis have been popular as corporate cars among executives, but this might change with the launch of the G80 Sport, a speedy luxury sedan unveiled in October. According to the company, 71.3 percent of the 500 preorders taken between Oct. 6 and 31 were made by those in their 30s and 40s, while 7 percent were by those in their 20s.The shift in the vehicle’s popularity among younger consumers might be due to its hip design, which drew hordes of y

Nov. 6, 2016

Auto sales in Korea to retreat for 2nd year in 2017: report

Automakers in South Korea is expected to face another bumpy road next year as consumers cut their spending on new vehicles amid snowballing debts and challenging economic conditions, a report said Sunday.According to the report by Hyundai Motor Co., the country's leading automaker, domestic auto sales for next year are estimated at 1.76 million unit, lower than this year's estimated 1.8 million.In 2015, a total of 1.84 million vehicles were sold in the country."While there are some positive fact

Nov. 6, 2016

Korea No. 5 eco-friendly auto market in 2015

South Korea was the world's fifth-largest eco-friendly auto market last year with some 42,000 units sold here despite its relatively small size, industry data showed on Sunday.According to the data compiled by the Korea Automobile Manufacturers Association, a total of 41,959 eco-friendly vehicles such as hybrid cars and electric vehicles were sold in the country last year, up 17.1 percent from 2014. This photo, provided by Hyundai Motor Co., shows how a battery is recharged for the firm's Ioniq

Nov. 6, 2016

Kia Motors unveils 4 modified cars at US auto show

Kia Motors Corp., South Korea's second-largest carmaker, said Friday it unveiled four modified cars at an annual US auto show, including a self-driving Sorento equipped with tracks. The annual trade fair, hosted by the Specialty Equipment Market Association this week in Las Vegas, showcased aftermarket modified cars from automakers and specialty tuners.Fitted with tracks and a roof rack, the Sorento Ski Gondola can be run on a ski slope while tackling ice and snow, Kia said. The Sorento Ski Gond

Nov. 4, 2016

Mercedes-Benz reaches new sales record in Korea

Mercedes-Benz hit a new record in Korea in October by selling more than 6,000 vehicles, standing on its own as other imported cars are losing customers, industry officials said Friday.The feat follows a series of other records. In August, Mercedes-Benz became the first to win over 30 percent of the imported car market. In September, it surpassed 5,000 in sales, a jump of 15 percent from the same month a year ago. Its October sales of 6,400, a 72.4 percent increase on-year, is the best monthly pe

Nov. 4, 2016

[NEWS FOCUS] What is causing Hyundai Motor’s decline?

Carmakers around the world may be struggling with common problems such as a slowing economy, fierce market competition or growing demands on technical innovations. But Hyundai Motor, Korea’s largest carmaker, is being cornered by other factors that include chronic labor disputes, rigid hierarchy in management and a diminishing monopoly in the local market, experts said.Concerns are growing over the South Korean carmaker and its future, raising questions about its growth capacity and future agend

Nov. 3, 2016

GM Korea likely to top 10% in S. Korean market share

GM Korea Co., the South Korean unit of US automaker General Motors Co., will likely see its market share in South Korea grow to over 10 percent for the first time in nine years, company officials said Wednesday.In the January-October period, GM Korea sold 144,726 vehicles in the South Korean market, accounting for 11.2 percent of 1,278,906 cars sold by five car manufacturers here over the cited period. In this file photo, taken on Oct. 17, 2016, James Kim (R), president of GM Korea Co. introduce

Nov. 2, 2016

Hyundai, Kia to pay $41.2 million over inflated fuel economy ratings

Hyundai Motor and Kia Motors have agreed to pay $41.2 million to settle investigations over inflated fuel economy ratings in US states.“We have faithfully taken all the follow-up measures related to the fuel economy ratings,” Hyundai said on Friday. In return for the settlement, the group representing 33 states -- which claimed the automakers misrepresented fuel economy in advertising -- decided not to file lawsuits against the automakers. The deal is the latest in the ongoing fallout from the a

Oct. 28, 2016

Korea's passenger car exports tumble 17.4% in Q3

South Korea's passenger car exports slumped 17.4 percent in the third quarter of 2016 from a year earlier due mainly to contracted world demand and partial strikes at local carmakers, customs data showed Wednesday.The total value of exported vehicles reached $7.23 billion in the July-September period, down from $8.76 billion a year earlier, according to the data compiled by the Korea Customs Service.Local carmakers led by No. 1 Hyundai Motor Co. shipped out 515,000 cars in the three-month period

Oct. 26, 2016