Hyundai Motor unveils new, sleek Grandeur

South Korea’s largest carmaker Hyundai Motor on Tuesday unveiled the much-awaited sixth generation of the Grandeur. During a media preview event in Seoul, Hyundai designer Koo Min-chul said the new Grandeur will “spearhead a new era” for the company’s designs.  “It features a cascading grill inspired by molten metal flowing from a furnace and the curves of Korean ceramics,” Koo told the media. Hyundai’s cascading grill, which was first introdu

Oct. 25, 2016

BMW Korea recalls 23 vehicle models

The local unit of German carmaker BMW is recalling 23 of its models for defects in devices that control emissions, the South Korean government said Tuesday.BMW Korea voluntarily started the recall on Oct. 12 on two gasoline and 21 diesel models for problems detected in the exhaust gas recirculation device and other equipments, according to the Ministry of Environment.The recall affects a total of 11,548 vehicles, including the BMW 520d model, which was the best selling imported car in South Kore

Oct. 25, 2016

Hyundai Motor Group executives to take 10% paycut to tide over crisis

South Korea's leading automaking group Hyundai Motor Group said Tuesday that executives of its 51 affiliates will have their salaries cut by 10 percent starting this month as part of efforts to tide over worsening business conditions at home and abroad."Executives of the group's affiliates are moving to voluntarily cut their salaries," said a high-ranking official at Hyundai Motor Group told Yonhap News Agency. "As far as I know, it (paycut) will start this month."The automaking group's paycut f

Oct. 25, 2016

BMW 5 Series closer to autonomous driving

The seventh generation of the BMW 5 series (BMW)The new seventh generation of the BMW 5 series sedan highlights a high-tech driving assistance system, a step closer to autonomous driving technologies, the automaker said on Sunday. The German auto giant said the new sedan’s driving assistance system features a stereo camera, which constantly monitors the car surroundings with radar and an ultrasonic sensor. The new sedan also has a lane control assistant function to allow the car to head off the

Oct. 23, 2016

GM Korea to introduce Bolt EV

GM Korea will display the Bolt EV, an electric subcompact car, for the first time at the Korea Electronics Show that kicks off Wednesday in Seoul, the company said Thursday.The company is the first carmaker here to participate in the exhibition and will introduce its progress in electric vehicle development. Manufactured by Chevrolet in partnership with LG Electronics, the Bolt EV was certified by the US Environmental Protection Agency to go 383 kilometers per charge.  (GM Korea)On the sidelines

Oct. 21, 2016

Hyundai Motor closes in on 10m unit sales in China

Hyundai Motor Group Chairman Chung Mong-koo said Tuesday that he would seek a fresh start in China, the world’s largest and fast-growing car market, moving away from market concerns over the fate of South Korea’s largest carmaker.At a ceremony to mark the completion of the firm’s new plant in Cangzhou, the chairman said that Hyundai would take this as an opportunity to jump forward, stressing that the factory is built to exclusively target Chinese consumers with high-quality vehicles.Hyundai Mot

Oct. 18, 2016

Hyundai sales to see first dip in 18 years

Hyundai Motor, the nation’s largest carmaker, is expected to see its global sales decline for the first time in 18 years, due to the prolonged recession in emerging markets and slowing demand in its home turf. The carmaker had set an annual sales target of 8.13 million units in January, slightly lower than last year’s 8.2 million. But the South Korean carmaker appears to be in a difficult situation to reach that goal, some market analysts said, citing its slowing sales.As of September, the compa

Oct. 13, 2016

SsangYong partners with Shaanxi Automobile

SsangYong Motor signed an agreement with Chinese automaker Shaanxi Automobile Group to set up a joint venture for establishing a SsangYong production plant in China, the automaker said Tuesday. The joint venture will become the Korean automaker’s first overseas production base. “It is essential to have a local plant in China to increase our competitiveness in the rapidly growing Chinese car market and to increase our sales volume,” said SsangYong Motor chief Choi Johng-sik.The company said it wo

Oct. 11, 2016

[NEWSMAKER] Hyundai Motor struggles to contain fallout

Hyundai Motor, the world’s sixth-largest carmaker, is grappling with a series of distressing events including chronic disputes with its hard-core laborers and unfavorable market conditions. Over the years, the nation’s largest carmaker has fought to maintain a lead in the market, competing globally through investments in research and development, brand value and design. (Yonhap)Despite its stellar performance in and out of the country, the carmaker is likely to continue having it rough for a whi

Oct. 10, 2016

Hyundai faces long journey toward hydrogen: analysts

It will be a long journey for Hyundai Motor to take a lead in hydrogen-powered vehicles due to a lack of infrastructure and progress by Japanese competitors, industry watchers said. Hyundai Motor appears to be betting on hydrogen fuel cell vehicles for its next-generation of cars, believing it will ultimately replace electric cars. In 2013, Hyundai, for the first time in the world, mass-produced the Tucson ix FCEV, which runs up to 415 kilometers on a single charge, and plans to unveil the secon

Oct. 9, 2016

Hyundai Motor ranked 35th in global brand value

Hyundai Motor, the nation’s largest carmaker, has ranked 35th in a global brand value report, climbing four notches from last year, the company said Wednesday.According to Interbrand’s list of the world’s top 100 brands, a global brand consulting firm, Hyundai Motor held $12.5 billion worth of brand value. Its sister firm Kia Motors ranked 69th, up five steps from last year. The brand value of Kia Motors was estimated at $6.3 billion won. Hyundai Motor ranked 35th in top 100 global brand list (I

Oct. 5, 2016

New i30: Not just a hatchback

Despite Hyundai Motor’s dominance in sedan segments in Korea, the carmaker’s hatchbacks have, so far, not been popular here. Hyundai’s first i30 series debuted in 2007, but had a lukewarm response in the face of imported hatchbacks that included Volkswagen’s Golf series invading at the time. The new i30 unveiled here last month and also at the Paris Motor Show that kicked off last week apparently inherited the hatchback legacy as well as its identity as a practical compact vehicle. But the lates

Oct. 3, 2016