Audi Korea unveiled the all-new luxury sedan Audi A4 in Seoul on Tuesday. The new sedan has 252 horsepower, a maximum torque of 38.0 kg.m. and a combined fuel efficiency of 12.5 kilometers per liter. The starting price of all-new Audi A4 is 49.5 million won ($42,185). (Audi Korea)

Hyundai Motor, Korea's leading automaker, has sold more than 4 million cars in India since its advance into the market about 20 years ago, industry data showed Tuesday.Hyundai Motor opened its local corporate body in India in 1995, with its first plant there going into operation in 1998. It opened a second plant in 2008, which raised its annual production capacity to 650,000 units.According to the data, Hyundai Motor's cumulative car sales in India surpassed the 4 million mark in November last y

Tesla Motors Inc.'s Chief Executive Officer Elon Musk is known for making the future come early. And yet, somehow, he's always running behind schedule. Some would call this a failure of management. But it might just be a business strategy: call it the Musk Doctrine. It goes something like this: People only do paradigm-shifting work when they’re under tremendous pressure, so the key is to ensure deadlines are always impossible. This could help explain why Musk has never launched a product on time

Ford’s popular Explorer SUV topped in a ranking of month sales among gasoline-powered foreign cars in April, data showed Monday.According to the Korea Automobile Importers and Distributors Association, Ford topped in the gasoline car segment by selling 422 units of 2.3-liter Ford Explorer, a seven-seater sport utility vehicle, pushing Mercedes-Benz C 200 Coupe down to second spot.  Ford Korea’s Explorer 2.3, the best-selling imported gasoline car in April (Ford Korea)As to growing popularity of

Sales of foreign cars in Korea dropped 2 percent on-year in April as some importers failed to secure a sufficient amount of cars to meet demand here, industry data showed Monday.According to the data compiled by the Korea Automobile Importers and Distributors Association, a total of 17,845 units of imported cars were registered last month, down from 18,202 units tallied in the previous year.From a month earlier, April sales plunged 25.9 percent, the data showed.The downturn was attributed in par

South Korea’s car-sharing market is fast expanding with a growing number of young consumers wanting to experiment with a wide range of vehicles rather than own a car. To cash in on the subtle change in the car market, the nation’s industrial giants are responding to such consumer preferences. Retail giant Lotte Group and the nation’s third-largest conglomerate SK Group are already involved in businesses that cater to such demand and the nation’s largest automaker Hyundai Motor is also considerin

Last year, Koreans spent nearly double overseas compared to the amount foreign consumers spent here in Korea, data showed Sunday.According to data from Statistics Korea, Korean consumers spent nearly 26.1 trillion won ($22.6 billion) overseas, roughly two times the 13.1 trillion won spent by foreign consumers in Korea.The figures include both consumer spending overseas and direct purchases from foreign websites. Tourists shop at a duty-free store in Seoul. (Yonhap)The disparity indicates a sever

In a dramatic change from previous models, GM Korea’s new Chevrolet Malibu 2016 is sleeker than before in design and has more power.The new Malibu, presented during a media test drive on a rainy day last week, offered a stable driving experience at speeds of around 120 kilometers per hour, proving that it was ready to challenge its rivals in Korea’s mid-sized sedan segment.The new Chevrolet Malibu (GM Korea)At first, the new Malibu gave the impression of a sharp, progressive sedan. But inside, i

Hyundai Motor said Sunday it held a delivery ceremony at Songdo Street Circuit located in Incheon and delivered its first Avante Sport to a customer who will participate in Korea Speed Festival. The new sport version of Avante is powered by a 1.6-liter T-GDi four-cylinder engine that produces 201 horsepower. (Hyundai Motor)

GM Korea said Sunday it held a sports marketing event featuring Manchester United Ambassador Park Ji-sung in Seoul on Saturday. At the event, Park, a former Manchester United player, met with young soccer players from high schools and Chevrolet customers. Chevrolet is the official automotive partner of Manchester United. (GM Korea)

Amid heated rivalry, Hotel Shilla CEO Lee Boo-jin wins LVMH operations for new tax-free shop in Yongsan

Kia Motors posted all-time high sales of 56,508 units in the U.S. in April, according to company officials Wednesday. The automaker attributed the record performance to a 78.9 percent on-year increase in sales of its sport utility vehicle Sportage, and a 35.6 percent sales jump of the Forte sedan. Kia Motors’ emblem (Yonhap)In the first four months this year, Kia Motors sold 202,829 units, up 4.3 percent over the same period last year.Unlike Kia’s strong performance, Hyundai Motor sold 62,213 un

Hyundai Motor and its smaller affiliate Kia Motors saw their sales in China grow for the first time this year in April, raising prospects that their prolonged slump in the world's largest market might be easing, industry data showed Wednesday.The two Korean carmaking giants sold a combined 146,722 cars last month in China, up 1.8 percent from a year earlier, according to the data obtained by the English-language division of Yonhap News Agency.The figures could be adjusted later as they are preli

Korea posted the first deficit ever for its diesel car trade last year as imports expanded sharply despite the fake emission scandal involving some popular models of Volkswagen, industry data showed Monday.According to the data by the Korean Automobile Importers and Distributors Association, the country's trade deficit for diesel passenger cars came to $1.42 billion last year, a turnaround from a surplus of about $870 million a year earlier. This marked the first ever deficit that the country ha

Ssangyong Motor, the local unit of Indian auto giant Mahindra & Mahindra, said Monday that its April sales grew 7.4 percent on-year driven mostly by strong domestic demand.Ssangyong Motor sold 13,462 units last month, compared to 12,531 units a year earlier, the company said in a press release. The figure does not include complete knockdown kits that are assembled abroad. Ssangyong Tivoli Air (Yonhap)Domestic sales jumped 12.3 percent to 9,133 units over the cited period, helped by the continued