Competition is expected to intensify in the South Korean hybrid vehicle market as two global automakers are set to clash with their new subcompact models that are already drawing favorable responses from customers, market watchers said Wednesday.With Hyundai Motor Co. and Toyota Motor Corp. claiming to guarantee better functions and improved driving performance than existing models, fuel efficiency remains a major factor that determines the winner in the hybrid market in the years to come.Hyunda

From left: Kia Motors’ executive vice president Kim Chang-sik, president Park Han-woo, vice chairman Lee Hyoung-keun and Hyundai Motor Group design chief Peter Schreyer pose with the all-new K7 at a Seoul hotel on Tuesday. Hyundai Motor GroupKia Motors on Tuesday launched the all-new K7, the second generation of its best-selling large sedan. Targeting sales of more than 75,000 units worldwide in its inaugural year, the carmaker is determined to attract 40-something motor enthusiasts, who prefer

   Despite record sales of 91.96 trillion won ($76.45 billion) in 2015, Hyundai Motor’s operating profits plunged 15.8 percent from a year ago, the lowest level since 2010.　The nation’s largest carmaker recorded a 3 percent increase in sales from a year ago, however its operating profits shrank to 6.36 trillion won, the company said Tuesday.　photo: A Hyundai Motor Tucson sport utility vehicle stands on display at the 16th Shanghai International Automobile Industry Exhibition. Bloomberg　Last year

Volvo, Jeep and Maserati will recall 812 cars for safety-related mechanical defects, the Ministry of Land, Infrastructure and Transport said Tuesday.According to the ministry, five car models from Swedish automaker Volvo have been found to have a glitch in their engine control modules that provides wrong data on fuel levels. This has led to untimely fuel depletions and the engine turning off while the cars are being driven. A cut in power can make modern cars uncontrollable and lead to accidents

Jaguar’s director of design Ian Callum presents the new Jaguar XJ to the press on Monday at Dongdaemun Design Plaza in downtown Seoul. Jaguar Land Rover KoreaBritish luxury carmaker Jaguar Land Rover on Monday launched the all-new XJ, the facelift version of its signature sports sedan XJ. “The New Jaguar XJ drives wonderfully, beautifully, and brings Jaguar to a whole new level,” declared Ian Callum, Jaguar’s director of design, at the launching event held at Dongdaemun Design Plaza in downtown

SM3 dCi, the diesel version of the subcompact sedan that Renault Samsung Motors rolled out in Korea on Jan. 4, is expected to fuel competition in a segment dominated by Hyundai Motor Group, industry sources said on Sunday. SM3 dCi, the diesel version of RSM’s subcompact sedan SM3 (RSM)“The new player, armed with European style, advanced fuel efficiency and convenient infotainment system, will offer more choices to customers, who are considering buying a compact sedan,’’ the sources said. RSM rev

Pressed by cheap products by Chinese rivals, the tire maker turns to high-end market

South Korea's imports of diesel vehicles set a new record in 2015, data showed Sunday, despite German carmaker Volkswagen AG's fabrication of the emissions data of its diesel models.The country's combined imports of diesel cars came to $6.29 million in 2015, marking an all-time high level by soaring 28 percent on-year.South Korea's exports of diesel models, however, plunged 15.7 percent over the cited period to $4.8 billion.Accordingly, South Korea posted a trade deficit of $1.4 billion in the d

South Korea's top carmaker Hyundai Motor Co. sold more automobiles in India than European countries combined in 2015, data showed Sunday, with the shipments to the Asian country set to rise further down the road.Hyundai Motor sold 476,001 units of automobiles in India last year, the data compiled by the Society of Indian Automobile Manufactures showed, marking a 15.7 percent growth on-year. The figure hovers above the 470,130 units posted in the European market in 2015, which also marked a recor

Kia Motors Corp., South Korea's second-largest carmaker, has set its sales target in Iran at around 20,000 units for this year as it is seeking to fully resume exports after years of suspension due to U.N.-led international sanctions, industry sources said Friday.Kia Motors' sales target in Iran was set "internally," the sources told the English division of Yonhap News Agency.Company officials did not confirm the figure, nor did they elaborate on when the company will resume exports to Iran in f

Dimitris Psillakis, CEO of Mercedes-Benz Korea, speaks at a press briefing at a Seoul hotel on Wednesday. Mercedes-Benz KoreaMercedes-Benz Korea on Wednesday said it expects a double-digit growth in sales this year, retaining its market dominance in the premium segment. “We aim for a double-digit growth this year, outperforming the imported auto market which is forecast to grow by 8.5 percent according to Korea Automobile Importers & Distributors Association,” said Dimitris Psillakis, CEO of the