Yamaha recalls 900 motorcycles in Korea

[THE INVESTOR] Japanese motorcycle manufacturer Yamaha is carrying out a recall for over 900 motorcycles in Korea to rectify a clutch malfunction. The recalled motorcycles are 761 units of YZF-R3 RH07 manufactured Dec. 6, 2015, to April 4, 2016, and 161 units of MT-03 RH07, from March 16 to April 4 in 2016. The motorcycles have been identified as being affected by the defect in clutch pressure plate, causing the engine to stall. Bike owners can get their motorcycles fixed at the Hankook Motor Tr

July 13, 2016

S. Korea orders recall of Ford Mustang over air bags

[THE INVESTOR] South Korea’s Ministry of Land, Infrastructure and Transport said July 13 that it has ordered a recall of Ford’s sports car Mustang as part of an expanded recall to replace faulty air bags made by Japanese supplier Takata.The authorities will recall a total of 948 vehicles manufactured from April 6, 2004, to January 10, 2012.  MustangThe recall is part of a global expansion of an ongoing Takata air bag recall, which could see as many as 100 million vehicles recalled globally, by m

July 13, 2016

Hyundai's Solaris best selling car in Russia

The Hyundai Solaris compact passenger vehicle from Hyundai Motor Co. became the best selling car among all vehicles sold in Russia in the first half of the year, the automaker said Wednesday.According to the leading South Korean automaker, the Solaris had accumulated sales of 45,930 units in the January-June period, beating its long Russian rival the Lada Granta of Russian automaker AvtoVAZ, which sold 43,967 units over the cited period.The Solaris, marketed as the Accent elsewhere, was the seco

July 13, 2016

Peugeot to recall subcompact convertible 207 in Korea

[THE INVESTOR] French automaker Peugeot is carrying out a recall on its subcompact convertible 207, according to the Ministry of Land, Infrastructure and Transport on July 13. Hanbul Motors, the importer of Peugeot, has been ordered to recall a total of 591 units after discovering that the failed heating system in the seats can potentially cause fire. Peugeot 207The automaker will recall 587 units of Peugeot 207CC manufactured from Feb. 12, 2007, to Oct. 23, 2008, and 4 units of Peugeot 207, fro

July 13, 2016

Ford to recall 948 Mustang sports cars for airbag problems

Ford Sales & Service Korea Inc., the local importer and distributor of the U.S. car brand, will recall 948 units of Mustang sports car for problems with their airbags as part of the company's worldwide recall plan, the South Korean transport ministry said Wednesday.The models' airbags, produced by Japan's Takata Corp., were found to have a problem in the inflator unit, which can send metal fragments flying and injure vehicle occupants in case of a crash, said the Ministry of Land, Infrastructure

July 13, 2016

Hyundai Motor, HHI unions to vote on strike plans

[THE INVESTOR] The labor unions of Hyundai Motor andHyundai Heavy Industries will put their strike plans to a vote on July 13. The two unions, which also plan to form a coalition if they strike, expect the plans to be approved.  Hyundai Motor's union put their srike plans to a vote on July 13.The 47,000 members of Hyundai Motor’s union will cast their ballots at various locations across the country. With the ballots being counted at Hyundai Motor’s plant in Ulsan, the results are expected late i

July 13, 2016

Hyundai Solaris tops Russian car market in H1

[THE INVESTOR] Hyundai Motor’s subcompact car Solaris topped the Russian market in the first half of the year, industry data showed on July 13. Called Hyundai Accent in Korea, Solaris was designed for the Russian market and launched in in 2011. According to industry data, 45,930 units of the Solaris were sold in Russia during the first six months of the year to become Russia’s best-selling vehicle.  Called Hyundai Accent in Korea, Solaris was designed for the Russian market and launched in in 20

July 13, 2016

Hyundai, Kia car sales show new vigor in China

[THE INVESTOR] After months of sluggish sales in China, Hyundai Motor and its affiliate Kia Motors have seen a turnaround in car sales in the all-important market in June. According to industry data on July 12, Hyundai sold a combined 523,000 vehicles in the first half of this year, up 2.5 percent from the same period last year. The carmaker suffered slowing sales in recent months but its car sales soared a whopping 61.6 percent in June alone by launching new models in the month. Hyundai Motor’s

July 12, 2016

[Photo News] Kia Motors rolls out K5 special trims Signature

Kia Motors unveiled its new K5 special trims Signature alongside plug-in hybrid electric vehicle K5 PHEV in Seoul on Tuesday. The cost of the luxury version Signature, which comes with two models 2.0 gasoline and 1.7 diesel, starts from 22 million won ($19,100). (Kia Motors)

July 12, 2016

Volkswagen Korea receives sales ban notice

[THE INVESTOR] Volkswagen Korea has received an official order from the Ministry of Environment to stop sales and cancel the registration of its vehicles that cheated on emission tests, the company said on July 12. “We received the notice,” Lee Soo-jin, a spokesperson of Audi Volkswagen Korea told The Investor. “But in order (for the ministry) to go ahead with revoking the registration, there will be a hearing session for us to explain. We will come up with an action plan after the hearing.”The

July 12, 2016

Hyundai Motor union readies for strike

[THE INVESTOR] Hyundai Motor’s labor union on July 11 announced that an industrial dispute has occurred, setting the stage for strikes in this year’s labor-management negotiations. Under local laws, a union can legally take industrial action after a 10-day review by the state labor committee. Any industrial action also needs the approval of union members. The carmaker’s union, which applied for labor committee’s review on July 5, plans to put the strike plans to a vote on July 13. If approved by

July 11, 2016

Hyundai Motor union leaders hold meeting amid looming strike

Hundreds of unionized workers at Hyundai Motor Co. held a meeting on Monday to decide whether to go on a strike, union officials said.No details of the meeting that drew about 500 senior union officials in Ulsan were immediately available. Ulsan is home to Hyundai's main assembly plants, located some 410 kilometers southeast of Seoul.The meeting came six days after the union of the largest South Korean carmaker suggested that the unionized workers could stage a strike, citing the collapse of neg

July 11, 2016

Mercedes-Benz’s S-Class posts monthly record sales

Mercedes-Benz’ flagship sedan S-Class posted record monthly sales in the Korean auto market, according to industry data on Monday. Mercedes-Benz reportedly sold more than 1,300 units -- which include 84 units of Mercedes-Maybach S-Class -- in June. This is the highest monthly figure since January, 2015 when the automaker sold around 1,000 units. The sales figure is compared to other German brands including BMW’s flagship sedan 7 series, which stopped short of selling 230 units and Audi‘s A8, whi

July 11, 2016

Foreign investors’ buying spree boosts Mando’s share price

[THE INVESETOR] The stake held by foreign investors in Mando, the automotive parts maker of Halla Group, has nearly doubled over the past months. As of July 11, foreign investors own 31.3 percent stake in the company, compared with 17.94 percent in March. During the same period, its share price also soared from 142,000 won (US$123) to 230,500 won. Analysts say the company has made big investments in recent years and investors are now showing keen interest in its business. Among other things, the

July 11, 2016

Up to 60% of Volkswagen cars to be kicked out of Korea

[THE INVESTOR] South Korean authorities announced July 11 that they will cancel the registration and suspend sales of all Volkswagen vehicles here that cheated on emission tests.The amount is expected to reach up to 60 percent of the total 250,000 units of VW cars that were sold in South Korea since 2007. 　Due to the staggering number, some industry watchers say the move may be designed to eventually kick the brand out of the market for good. The Ministry of Environment said the Seoul Central Di

July 11, 2016

Korea to ban sales, nullify certifications of Volkswagen vehicles

South Korea's government on Monday said it will ban sales and revoke certifications of dozens of Volkswagen models that are suspected to have passed the local authentication process with doctored reports. The Ministry of Environment said it has received an official request for cooperation from the Seoul Central District Prosecutors' Office with a list of over 70 models of the German carmaker that are suspected of obtaining approval from the local authorities with faked reports on noise level, fu

July 11, 2016

Renault Samsung's sales in H1 up 25.9%

Renault Samsung Motors Co., the local unit of French automaker Renault S.A., has boosted its sales in the first six months of this year by taking advantage of a consumption tax cut program.Renault Samsung said it sold a cumulative 46,916 units at home during the January-June period, up 25.9 percent from a year earlier.It marked the highest rate of sales growth among carmakers in South Korea.GM Korea Co., the local unit of U.S. carmaker General Motors Co., said its cumulative sales at home during

July 11, 2016

Mercedes-Benz S-Class monthly sales top record in June

[THE INVESTOR] June sales of the Mercedes-Benz S-Class in Korea set a new monthly record, industry data showed on July 11. According to industry data, the sales of S-Class vehicles -- including 84 units of Mercedes-Maybach S-Class vehicles -- came in at 1,332 units in June. The previous monthly sale record for the model was 1,242 units set in January 2015. Sales in June is thought to have been boosted further by the resumption of S350d sales. Mercedes-Benz Korea had halted S350d sales after it c

July 11, 2016

Hyundai Mobis’ Chrysler module supply to reach 4 million by year-end

[THE INVESTOR] The number of Hyundai Mobis ’ modules supplied to Chrysler is set to reach 4 million by the end of the year, industry data showed on July 11. According to the Hyundai Motor Group auto parts maker, more than 3.6 million modules have been produced at its two US plants and supplied to Chrysler since 2006. Hyundai MobisHyundai Mobis’ plant in Ohio produces complete chassis module for the Jeep Wrangler, and the plant in Michigan produces front and rear chassis modules for the Jeep Gran

July 11, 2016