GM Korea said Tuesday that it has decided to continue importing Chevrolet’s premium sedan Impala instead of producing them here.　“We decided to keep importing Impala to respond to the needs of clients, who want premium value of imported sedans, and to consider the company’s car portfolio under the government’s strict regulations on carbon emissions,” the company said in a statement.Chevrolet’s premium sedan Impala (GM Korea)The automaker said in order to maintain cost competitiveness, importing

Korean automaker unveils roadmap for smart device on wheels

Korea's top two carmakers--Hyundai Motor and its smaller affiliate Kia Motors-- saw their sales in China decline in March, but the downward pace slowed significantly, showing signs of a possible rebound from a long-haul slump, company data showed Tuesday.The two companies sold a combined 148,599 cars in China last month, down 6.9 percent from a year earlier, according to the preliminary data obtained by the English division of Yonhap News Agency. This marked the third straight month that sales i

Hyundai Motor, Korea's top automaker, saw its sales of the Genesis luxury sedan spike over 30 percent on-year in March in the United States, heating up competition mostly driven by German brands, industry data showed Tuesday.According to the data, Hyundai Motor sold 3,197 units of the Genesis DH in the U.S. last month, up 32.4 percent from a year earlier. The model will be renamed the G80, and will be launched anew later under the automaker's recently separated luxury brand Genesis. Hyundai Gene

Hyundai Motors America CEO David Zuchowski has forecast that a car will eventually evolve into a smart device combining the know-how of both tech firms and automakers. “We need to embrace technology like everybody else is,” Zuchowski said in a recent interview with CNBC. David Zuchowski, CEO of Hyundai Motors America (Hyundai Motors America)He shared insights on the changing landscape of the auto industry. In the face of growing competition from tech giants, such as in the area of self-driving c

Tesla’s 1st mass model is forecast to spur market for EVs in cities

Domestic car sales by the five Korean carmakers soared 17 percent to 148,888 units in March from the same period last year, bolstered by the “new car effect” and the extension of tax cut benefits on car purchases by June, data compiled by each company said. But the five companies with production lines here -- Hyundai, Kia, General Motors Korea, Renault Samsung and Ssangyong Motor – saw their overseas sales drop 4.3 percent on-year last month, the data showed. When it comes to domestic sales, the

Japanese automaker Honda Motor unveiled its new dual-sport motorcycle Africa Twin and concept trike Neowing here, targeting a greater share of the Korean market. “We are aiming to sell 16,000 units this year to grab a 20 percent share in the local market,” said Seo Jung-min, an executive of Honda Korea, at the launch of the Seoul Motorcycle Show 2016, held on March 31. Honda’s dual-sport motorcycle Africa Twin (Honda Korea)Honda was the third-largest player in the segment with a 17 percent marke

Tesla’s CEO hinted on Twitter on Friday that the U.S. luxury electric vehicle maker will enter the Korean market with the new Model 3, which is the firm’s first mass-market brand.  (Elon Musk's Twitter)In reference to the countries where preorders of the 2017 Model 3 will be available, Tesla CEO Elon Musk made it clear that Korea is one of the seven countries.There have been rumors over the entry of Tesla into the Korean market since last December when the EV maker reportedly signed a contract f

GM Korea Co., the local unit of U.S. carmaker General Motors Co., said Friday that its sales in March grew 3.4 percent from a year earlier, driven by strong demand from the domestic market.The carmaker said in a press release that it sold 56,144 units last month, compared with 54,305 units a year earlier.Its domestic sales rose 27.6 percent on-year to 16,868 units, with sales of its Spark city car spiking nearly 90 percent to a record high of 9,175 units.The company's overseas shipments, however

 The local unit of Audi, the luxury brand of German carmaker Volkswagen, said Friday that it is in the process of paying tax refunds to its customers, dismissing criticism over its alleged refusal to follow the government's changed tax policy, which recently led to some lawsuits demanding compensation. In its emailed statement, Audi Korea said that it has notified all of its dealerships here about the government's decision to extend a tax cut for new car purchases and that they are paying refund

The head of AmorePacific Co., South Korea‘s top cosmetics company, has reaffirmed his commitment to the Chinese market, saying he sees more room for growth among middle-class consumers there.“By 2020, the middle class population is expected to reach 500 million, and its size and influence will greatly expand in the next decade,” AmorePacific CEO Suh Kyung-bae was quoted as saying during a monthly meeting with senior company officials earlier this month.AmorePacific has been showing stellar perfo

Lotte Rental, the car rental service unit under Lotte Group, said Thursday that it had the most cars of any Asian rental firm, including Japan’s Toyota Rent-a-Car. Compared to the Japanese company’s 110,000 units, Lotte boasts 130,000 units as of last year, ranking first in Asia and sixth globally, according to the Korean car rental association.  Lotte Rental’s promotion poster Lotte RentalLotte said it aims to rank fourth globally by 2020. Lotte has retained its No. 1 position domestically, hav

BMW’S NEW MAXI SCOOTERS -- BMW Korea unveiled its new maxi scooters C 650 Sport and C 650 GT at the opening of the 1st Seoul Motorcycle Show in Coex on Friday. Prices start from 15.9 million won ($13,900) and 16.5 million won, respectively. (BMW Korea)

(Yonhap)The government plans to establish a new team under the Transportation Ministry to exclusively support self-driving and eco-friendly cars, according to officials Wednesday. The ministry said it plans to create a high-tech auto technology division in May at the latest, with the aim of backing the autonomous and eco-friendly vehicle industry, which is still at a nascent stage here. “We plan to separately manage autonomous car technologies, which have so far been supervised together with oth