Hyundai Motor Co. and its corporate cousin Kia Motors spent more on sales promotions and incentives this year than in 2014 as they fight for market share with Japanese rivals, which are benefiting from the weak yen, a corporate report by the carmakers showed Sunday.According to the investor relations report, the two companies, which are the flagships of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, used 14.13 trillion won ($12.41 billion) on various sales promotion prog

Kia Motors Corp., South Korea's No. 2 automaker, said Sunday that it is moving to more than double its dealership network in Mexico to increase its market presence.The move to add 27 new dealerships to the existing 21 is likely based on the carmaker's strong sales in its first three months of selling cars there. Kia's first official foray into Mexico came in July, when it set up dealerships in 10 major cities. That month it sold 1,499 vehicles, outselling BMW, Mercedes-Benz and Suzuki, to take 1

Hyundai Motor Co. and Kia Motors Corp. are losing ground in China in the face of stiff competition from homegrown rivals armed with relatively cheap prices and improved product quality, industry data showed Thursday.The two South Korean auto giants saw their combined market share in China drop to a single digit, which points to challenges that they are facing in major overseas markets this year.According to the data provided by a local automobile association, Hyundai Motor sold a cumulative 724,

Jaguar Land Rover Korea is likely to face a penalty in Korea next year for overstating the fuel economy of its 2015 Jaguar XF 2.2D, the diesel-powered British executive saloon, according to news reports on Sunday. “Jaguar Land Rover Korea overstated the fuel economy of its best-selling luxury sedan by more than 10 percent both on the city road and highway tests,” a Yonhap news report quoted an industry source as saying. The result is based on this year’s first-round fuel economy tests of 23 samp

Nissan’s Maxima sedan has returned to Korea with stronger performance and an upscale feel. The Japanese carmaker’s all-new Maxima, which had its Asia launch on Oct. 1 in Seoul, is a four-door sports sedan boasting 303 horsepower. The 2016 Nissan Maxima, ranked the first in the “affordable large car category” by U.S. News & World Report, has one of the most powerful non-turbocharge six-cylinder engines on the market. Under the hood, the all-new Nissan Maxima’s 3.5-liter VQ-series V6 engine has be

Kia Motors Corp., South Korea's No. 2 automaker, said Friday that its third-quarter net profit dropped 16.3 percent from a year earlier due largely to losses from equity ties with affiliates, but its operating income hit a five-year high.Its net profit reached 550 billion won ($487 million) during the July-September period, compared with a profit of 657 billion won a year earlier, the company said in a regulatory filing.Operating income surged 19.6 percent on-year to 678 billion won over the cit