Volkswagen Korea, the local importer and distributor for the German carmaker, is likely to offer a huge price reduction for its latest Passat series, intent to expand sales here.According to local sources, the carmaker has approved dealers to offer nearly 30 percent off the Passat TSI, expected to make its official debut here in mid-August. The retail price of the sedan is projected to be around 36 million won ($32,300), but the final price will drop to around 26 million won, bringing it into th

Hyundai Motor Co. said Sunday that it sold 223 Nexo hydrogen fuel cell cars since its launch in March, and that the company expects record sales for its clean car this year, buoyed by increases in domestic and worldwide demand.Korea's No. 1 carmaker said of the total, 179 of its fuel cell electric vehicles were sold in the home market, with 44 being shipped abroad, up till last month. (Yonhap)It said that while the overall volume is not high, it is close to the 269 Tucson FCEVs sold for the whol

South Korean auto giant Hyundai Motor has signed a contract to provide up to 1,200 Ioniq hybrid cars to a Singaporean taxi operator, the company said Thursday.The contract states that Hyundai will provide Ioniq hybrids to Comfort Delgro, a Singaporean logistics company, by the first half of 2019. Ioniq hybrid taxi (Hyundai Motor)Starting with the taxi-version of Hyundai’s sedan Sonata, the carmaker has been providing vehicles for Comfort Delgro since 2007. So far, the carmaker has sold about 24,

Despite improved sales of sport utility vehicles, Hyundai Motor’s profit fell 37.1 percent on-year in the first half of this year, due to the strong Korean won and a rise in production cost.The carmaker saw 47.1 trillion won ($42 billion) in sales, a 1.1 percent decrease, and earned 1.63 trillion won in operating profit, the company said in a statement.The worse-than-expected profit came even though the carmaker sold more vehicles than the same period last year. It sold 2.24 million units, a 4.5

BMW Korea, the local importer and distributor of the German luxury carmaker, will voluntarily recall 106,317 units of the 520d sedan and 41 other models due to a faulty exhaust gas recirculation module following a series of BMW engines catching fire, the government said Thursday.This is the first time in any country for BMW to recall vehicles due to flammable exhaust gas recirculation.According to the Ministry of Land, Infrastructure and Transport, fires had been set off due to defective exhaust

Hyundai Motor has invested 22.5 billion won ($20 million) in Mesh Korea, a logistics service provider that runs the brand Vroong, the company said Wednesday.The decision is a part of efforts to secure a new growth engine, the company said, citing the last-mile logistics technology Mesh Korea has developed. Hyundai plans to apply its autonomous and connected car technologies to Mesh Korea’s delivery vehicles, with an aim to develop unmanned delivery services in the future. Last-mile technology re

Audi Korea plans to offer a roughly 40 percent markdown on its A3 low-emission diesel compact sedan to comply with low-emission vehicle sales regulated under South Korean law, the company said Wednesday.Some 3,000 units of model year 2018 A3 vehicles will be sold between 23.7 million won ($21,000) and 26.1 million won, equivalent to the price range of Hyundai’s Avante compact car. The official price range of the new compact sedan is 39.5 million won to 43.5 million won.“The exact discount rate h

Hyundai Motor, South Korea’s largest automotive company, has signed sponsor partnerships with Italian football club A.S. Roma and German football club Hertha Berlin, the company said Tuesday.With the latest two partnerships, Hyundai has become partners with five European football clubs as part of its sports marketing efforts in the region. The auto firm is posting increasing sales in Europe, despite sluggish growth in the US and China. Andrea Crespi (second left), managing director of Hyundai Mo

From the 1986 BMW 5 Series to newly launched M5, several of the German carmaker’s signature vehicles are starring in the new “Mission: Impossible” movie, maximizing its image of dynamic performance and design.In latest sequel, “Mission: Impossible -- Fallout,” BMW vehicles are featured as super cars for action hero Ethan Hunt played by Tom Cruise, and his crew.  　Hollywood star Tom Cruise is seen while filming “Mission: Impossible -- Fallout” on the 1986 BMW 5 Series. (BMW Korea)The BMW M5 that

Hyundai Mobis, the auto parts making unit of Hyundai Motor Group, has implemented artificial intelligence to its software screening process and document search system for improved efficiency and accuracy, the company said Sunday.The move came in line with the company’s latest efforts to shift into a software-centered company and to diversify the use of AI in research and development.The AI-based software screening system, dubbed Mobis Artificial Intelligence Software Testing, jointly made with a

PAJU, Gyeonggi Province -- Fiat Chrysler Automobiles Korea has its sights set on the sport utility vehicle market here, revamping its showrooms to be Jeep-exclusive by next year and completing the lineup with the first fully changed Compass compact SUV released in 10 years.As a model positioned between the Renegade small SUV and Cherokee midsize SUV, the new Compass targets “urban adventurers” looking for a vehicle suitable for the city and rough off-road terrain.On the SUV brand’s unique four-w

South Korea's finance minister has called on his US counterpart to have the Asian country exempt from America's planned auto tariffs, the Seoul government said Sunday.  Kim Dong-yeon made the request during his meeting with US Secretary of the Treasury Steven Mnuchin in Buenos Aires on Saturday (local time) on the sidelines of the Group of 20 meeting.  South Korea`s finance minister Kim Dong-yeon and USSecretary of the Treasury Steven Mnuchin (Yonhap)US President Donald Trump has proposed a 25 p

South Korean automaker Hyundai Motor Co.'s management and labor on Friday agreed to a tentative wage deal for this year, marking the quickest deal in eight years.Under the agreement, the base wage will increase by 45,000 won ($40), with extra bonuses, according to the company. It also included ways to adjust work shifts to reduce working hours.The company and the union also agreed to make concerted efforts to improve productivity and create a 50 billion-won fund to support subcontractor firms."W

Hyundai Motor, South Korea’s leading automaker, unveiled the world’s first soon-to-be mass produced Marvel character-inspired vehicle, the Kona Iron Man edition, in partnership with the New York-based entertainment company, the company said Thursday.Through its partnership with Marvel signed in 2015, Hyundai aims to promote its brand as fun and exciting particularly among younger drivers.Poster of Hyundai’s Kona Iron Man edition jointly made with Marvel (Hyundai Motor)The Iron Man edition of Hyu

Mercedes-Benz Korea has installed electric vehicle chargers jointly developed with South Korea’s leading mobile carrier KT at its showrooms and services centers nationwide, the company said Thursday.The electric vehicle charger made for Benz’s EQ EV brand vehicles can also be used to charge electric vehicles with a single phase 5-pin socket.This is part of the automaker’s efforts to provide services that cater to local drivers in its fifth-biggest market, and to keep its position as No. 1 import