Hyundai Glovis has sold a record-breaking 1 million second-hand vehicles via auctions as of the end of November, according to the company on Tuesday.The logistics unit of Hyundai Motor Group has auctioned 1,000,382 used cars since it first started its automobile auction service in 2001. Members participate in an auction where the 1 millionth used car was put up for sale at Hyundai Glovis’ Sihwa auction house on Nov. 30 (Hyundai Glovis)In the past six years, the company has seen an average 4.8 pe

South Korea will provide financial assistance for cash-strapped auto parts makers to help them tide over the liquidity squeeze amid auto industry slump, the government said Tuesday.The Ministry of Trade, Industry and Energy announced plans to provide 3.5 trillion ($3.1 billion) worth of funding and loan guarantee for local auto parts makers, which have been grappling with shrinking sales at home and abroad. (Yonhap)South Korea's auto industry is going through a hard time after GM Korea shut down

Hyundai Motor Group, the world’s fifth-largest automotive group, is slated to begin construction of its new headquarters, dubbed the Global Business Center, in southern Seoul in the first half of next year, with the government moving to clear regulatory hurdles for the project that had hit a snag for years.The development comes as part of government plans shared at the economy-related ministers’ meeting, led by President Moon Jae-in on Monday, on fostering economic growth in 2019 by encouraging

It’s practically a taboo for a car company, particularly South Korean carmaker Hyundai Motor, to hire a celebrity as the face of a new vehicle. It’s supposed to be all about the car, not the star. Breaking this unspoken rule, Hyundai Motor brought a global sensation -- Korean boy band BTS -- into its all-out efforts to promote the large SUV it launched last month, seeking a rebound for its global sales. But the Palisade is a car with a target market that goes beyond BTS’ young fan base, extendin

Hyundai Motor’s market share in the US sport utility vehicle segment rose to a record high of 3.7 percent as of November, industry sources said Sunday. That marks the South Korean auto giant’s strongest showing since it entered the market in 2000. Hyundai sold 271,377 SUVs between January and November, a 14.1 percent increase from the same period last year.The company’s SUV market share had headed downward in recent years after peaking at 3.6 percent in 2009. The figure hit bottom in 2015 with 2

Hyundai Motor Co., South Korea's largest carmaker by sales, said Sunday legendary rally driver Sebastien Loeb will contest six rounds of the 2019 World Rally Championship. Nine-time WRC champion Loeb will start the two-year contract with Hyundai by attending the Monte-Carlo Rally with the Hyundai i20 Coupe WRC in Monaco next month, Hyundai Motor said in a statement. Sebastien Loeb (Reuters)Hyundai Motor's World Rally team is now composed of rally drivers Thierry Neuville, Andreas Mikkelsen, Dani

Hyundai Motor Group said Friday it will put greater focus on reviving sales in the United States and China next year by giving more leeway to the carmaker's regional business headquarters.The move comes amid deteriorating business environments such as the ongoing US-China trade dispute, planned rate hikes in the US and rapidly changing customer appetites for vehicles.The South Korean automaker plans to launch new sport utility vehicle models in the two important automobile markets in 2019 to dri

A South Korean court on Friday ruled against a request of Volkswagen and its affiliate Audi that a hefty fine, imposed on the local unit of the German automakers two years ago for false advertisements on its fabricated emissions results, be canceled.The Seoul High Court ruled that there was no problem with the Fair Trade Commission's imposition of a record 37.3 billion won ($33 million) fine in 2016 on Audi Volkswagen Korea, the local unit of the German carmakers, for producing false advertiseme

GM Korea, the local unit of the US automaker, said Thursday that the state-run Korea Development Bank has completed recapitalization of $375 million as part of the rescue plan signed in late April, raising prospects of the automaker and its second-largest shareholder narrowing their differences on GM’s spinoff plan.This is the latest development amid ongoing talks between related parties after a Seoul court approved an injunction against the process related to GM Korea’s spinoff of GM Technical

Hyundai Motor, South Korea’s No. 1 automotive company, has pledged 1.67 trillion won ($1.4 billion) in support of local small and midsize auto parts suppliers in a move to restore stability and bolster research and development, the company said Thursday.Due to tumbling sales at Hyundai and Kia, which stand as the world’s fifth-largest automaker, their parts suppliers have been posting operating losses or seeking debt workout programs in recent months. To assuage growing instability, in October t

Hyundai Motor Co. said Thursday its Nexo hydrogen fuel cell electric car has been awarded Europe's best in class for safety in the large off-road category for this year. The European New Car Assessment Program tested the Nexo in four categories: the safety of adult passengers, the safety of children in rear seats, the safety assistance system and the safety of passers-by and bicycles on roads, Hyundai said in a statement.  (Yonhap)"Hyundai is committed to provide customers and other road users w

South Korea will announce a set of support measures next week for the country's troubled auto parts industry, a top official said Thursday.Hong Nam-ki, the minister of economy and finance, said the auto industry is a major priority as South Korea has been struggling to reinvigorate the manufacturing sector, a key part of South Korea's economy. (Yonhap)Hong did not provide any further details on the set of measures during a visit to a small auto parts maker in Asan, some 100 kilometers south of S

YONGIN -- GM Korea Co., the South Korean unit of General Motors Co., on Thursday launched its new Camaro SS in the domestic market to diversify its product lineup.The upgraded version of the sixth-generation Chevrolet muscle car comes with a 6.2-liter V8 engine and the Hydra-Matic 10-speed automatic transmission. It has 455 horsepower on tap and 62.9 newton meters of torque, and can accelerate from zero to 100 kph in four seconds, GM Korea said in a statement.  The New Camaro SS sports car (Yonh

Chung Eui-sun seeking a complete generational shift in his father’s empire, insiders say

Hyundai receives more than 20,000 Palisade preorders in first 8 days