Hyundai Motor said Wednesday its first-quarter operating profit came in at 824.9 billion won ($718 million), up 21.1 percent from last year, boosted by sales of its latest sport utility vehicle model Palisade, which hit the market in December. According to the automaker, first-quarter sales increased 6.9 percent to 23.9 trillion won, while net profit jumped 30.4 percent to 953.8 billion won.  Hyundai Motor’s Palisade (Hyundai Motor)Although Hyundai Motor’s global sales decreased 2.7 percent to 1

Automaker strives to pull up sales by diversifying sales channels, including discount stores

Market predicts automaker’s improved Q1 performance based on Palisade’s popularity

One challenge many automakers face with sport utility vehicles is how to maintain their off-road capabilities while still appealing to daily SUV users.Jeep, an SUV brand under the Fiat Chrysler Automobile group, faced this challenge with its iconic Wrangler, which maintains its rough and tough off-roader image. Many drivers still believe the Wrangler suits hard-core off-roading enthusiasts driving on dusty, unpaved surfaces. But to break from its conventional image and expand its customer base,

South Korean auto giant Hyundai Motor has named Jose Munoz, a former Nissan executive, as global chief operating officer in charge of sales in the Americas, the company said Friday. Munoz is to oversee the performance of the carmaker’s regional offices in North America and Latin America, the company said, announcing his appointment as president and CEO of both Hyundai Motor North America and Hyundai Motor America. He will play a leading role in improving the overall profitability of the carmaker

There is no doubt that the Wrangler is the most off-road capable vehicle made by Jeep, the iconic 4-by-4 sport utility vehicle maker with a 70-year history under Fiat Chrysler Automobile group. With an aim to expand the customer base of the Wrangler in Korea, Jeep has completed the full all-new Wrangler lineup here, now with six trims that range from the two-door Sports and Rubicon to the four-door Sports, Rubicon, Overland and Rubicon Power Top.  Jeep's All-new Wrangler (FCA Korea)The Italian-A

Renault Samsung Motors CEO Dominique Signora said Wednesday the company will continue investing in the Korean market, considering the Korean unit’s significance to its French parent company.During a closed-door meeting with Busan Metropolitan City Mayor Oh Keo-don, Signora asked for joint efforts to solve a prolonged labor dispute and to revitalize the city’s export competitiveness through the automaker’s only plant in Busan.  Busan Metropolitan City Mayor Oh Keo-don (left) and Renault Samsung M

Since its launch in 1975, BMW’s 3 Series models have been considered a benchmark for compact sport sedans, selling at least 15 million units globally in the past four decades. The seventh-generation model of BMW 3 Series drives on the road. (BMW Korea)The Korea Herald drove the new 3 Series on a rainy day on a 100-kilometer route from Southeastern Seoul to Yangpyeong, Gyeonggi Province. Despite its slippery road condition, it performed well, proving to be one of the highest-rated in the segment

Amid a rising tide of trade protectionism, Korean carmakers are facing a dilemma between producing abroad or at home, where labor agreements force them to maintain staffing levels at high wages.Producing a vehicle in South Korea using highly paid workers costs a lot more than in emerging markets with cheaper labor such as in China, Southeast Asian countries and even Eastern Europe. The low profitability of vehicles made in Korea due to high tariffs has been also cited as a hurdle for Korean auto

Hyundai Motor has invested in CODE42.ai, a local startup founded by a former chief technology officer for Naver, to strengthen their partnership by developing an open platform for the new mobility-as-a-service market.The carmaker’s de facto chief, Executive Vice Chairman Chung Eui-sun, recently met Song Chang-hyun, CEO and founder of CODE42, to strengthen their partnership on a smart mobility solution called the Urban Mobility Operating System, the company said in a statement.  Hyundai Motor Exe

Hyundai Motor and local partner Thanh Cong Group in Vietnam have presented a Santa Fe to Park Hang-seo, the South Korean coach currently leading the Southeast Asian nation’s national football team. The SUV given to Park was assembled at a complete knock-down plant the two companies completed in a joint venture early this year. “We offer Santa Fe to Park Hang-seo who has given pride to Vietnamese people, so that he could do better,” a Hyundai official said. 

BMW has unveiled the seventh generation of its best-selling 3 Series sports sedan, the automaker said Thursday.The premium sports sedan series has been the most popular since it was launched in 1975. In the past four decades, at least 15 million units have been sold globally. “The new 3 Series applied BMW’s unique design langauge based on the key concept of ‘precision and poetry.’ We tried to emphasize modern and concise design based on the exterior’s character line,” said a BMW designer Kim Nur

Changing lifestyle, widened features and automakers‘ supply strategy boost popularity

Hyundai Motor and its sister company Kia Motors saw record-high first-quarter SUV sales in the US, where sport utility vehicles and pickup trucks are dominant, industry data showed Sunday. From January to March, Hyundai and Kia sold a total of 155,082 units of SUVs in the US, accounting for 8 percent of their total sales and marking the highest figure since 2011, when the combined figure for both companies was 10 percent.  Kia Motors’ Telluride (Kia Motors)SUVs also made up 53.8 percent of total

Hyundai Motor on Thursday denied that it was building a new manufacturing plant in Saudi Arabia, after a Cabinet member of the Middle Eastern country said in an interview there had been “advanced” talks on the matter. “We have always taken various plans for review to expand global sales,” said a company official. “There is no plan with regard to (making) investment in Saudi Arabia or any other advanced talks (about that) and we don’t have a plan to build a manufacturing plant there.” (Yonhap)The