The Korea Herald

Hyundai Motor's sales rise, earnings fall in Q1

Apr 24, 2014

Hyundai Motor, the world's fifth-largest automaker, on said Thursday its net earnings declined 2.9 percent from 2013 to 2.03 trillion won ($1.95 billion) on account of worsening industry conditions at both home and abroad. Sales and operating profit, however, rose 1.3 percent and 3.7 percent, respectively, to 21.6 trillion won and 1.93 trillion won in the same period, the company said in a regulatory filing.Hyundai officials said the new Genesis, launched late last year, helped bolster sales for
Hyundai unveils all-new Sonata Turbo

Apr 20, 2014

Hyundai Motor on Wednesday unveiled for the first time ever its latest Sonata Turbo at the 2014 New York International Auto Show, held at Jacob Javits Convention Center in New York.It also marked the first time Hyundai has introduced its All-New Sonata lineup to the North American market, said the carmaker.The company hopes the all-new Sonata and the all-new Genesis will together fuel its overseas sales and help lead the North American market in premium, mid-size sedans.“The All-New Sonata has i
Kia unveils new Carnival minivan

Apr 15, 2014

Kia Motors on Tuesday released photos of its new Carnival minivan ahead of its global debut at this week's New York International Auto Show.The new Carnival is the third-generation model of the carmaker's steady selling minivan that was first introduced in 1998. In the U.S., the car -- sold under the name Sedona -- posted an accumulated 1.55 million units of sales. Among the number, 978,000 sold overseas.The new Carnival will be available in seven- and eight-passenger configurations, and is equ
Hyundai Motor launches i30 D spec in Korea

Apr 15, 2014

Hyundai Motor on Tuesday announced the launching of a more powerful version of its i30 hatchback in Korea, the D spec. The D spec model replaces the conventional1.6-liter gasoline direct injection (GDi) with a stronger 2-liter Nu motor churning out 172 horsepower and 21 kilogram-force meter of torque. The GDi engine, according to Hyundai, has 23 percent more horsepower and 24 percent more twist than the regular version of the compact family car.The carmaker said the D spec has an updated steerin
Renault Samsung’s early retirement applicant numbers below expectations

Apr 14, 2014

Renault Samsung Motors was unable to induce the targeted number of its employees to opt for early retirement program, corporate sources said Monday, which the company said is intended to restructure its workforce for better productivity.Insiders said only around 20 workers applied for the program as of Friday. The company received applications from March 10 and expected about 160 to apply. The “New Start” program was initiated after the carmaker, the local unit of French automaker Renault S.A.,
Mini has grown up well

Apr 13, 2014

More mature now, Mini will please everyone, including enthusiasts
Audi A8: locked, loaded

Apr 13, 2014

Audi has heated up the premium four-door segment with the A8, its flagship luxury sedan featuring state-of-the-art technology, keeping competitors on their toes.In line with its global slogan “Vorsprung durch Technik (Progress through Technology),” the German luxury carmaker designed what might be one of the most comfortable and innovative vehicles the world has yet seen.The Audi A8L (L stands for long wheelbase) is dressed in a sturdy yet lightweight aluminum body, a core feature that allows th
Ford Focus remains world’s best-selling car

Apr 13, 2014

Ford said Thursday its Focus remained the world’s best-selling vehicle in 2013, according to its own analysis of new vehicle registration data from market research firm IHS Automotive.Registrations of the Focus compact increased 8.1 percent, with sales of 1.097 million cars globally last year. That compares with sales of 1.014 million units in 2012. Sales of the Focus almost doubled to 403,219 vehicles in China during the same period. Now 1 in 3 Focus cars is sold in the crucial Chinese market,
Documents show GM slow to respond to safety complaints

Apr 13, 2014

Internal General Motors Co. documents released on Thursday by Congress show that company executives, including Chief Executive Officer Mary Barra, were slow to respond to complaints about vehicle safety that built up for more than a decade.In an email sent in 2011, Barra was told regulators were investigating steering problems with the Saturn Ion. While the flaw was not connected to the ignition-switch defect linked to the deaths of 13 people in Chevrolet Cobalts and other small cars, GM executi
BMW widens recall on engine-bolt fault

Apr 13, 2014

Bayerische Motoren Werke AG, the largest maker of luxury cars, is recalling 489,000 vehicles worldwide due to a possible engine-bolt defect, widening a repair program that was initiated in China.No accidents or injuries have been reported related to the fault in some six-cylinder engines, Bernhard Santer, a spokesman for the Munich-based manufacturer, said Friday by phone. Vehicles affected include 156,000 cars in North America, as well as 232,098 autos in China that were announced for recall wi
SUVs, MPVs account for 37.5% of Korean car exports in Q1

Apr 10, 2014

Sport utility vehicles and multipurpose vehicles accounted for 37.5 percent of all South Korean car exports in the first quarter of this year, making them the second-largest vehicle types shipped abroad, a local automotive industry association said Thursday.According to the Korea Automobile Manufacturers Association, carmakers such as Hyundai Motor, Kia Motors and GM Korea exported 282,848s SUVs and MPVs in the January-March period.The number only trails the 303,942 compacts and subcompacts expo
Hyundai, Kia overseas production hits record high in Q1

Apr 8, 2014

Overseas production by Hyundai Motor and its sister brand Kia Motors hit a record 1,093,881 units in the first quarter, corporate data showed Tuesday.The total represents a 6.1 percent increase from 1,031,316 vehicles in the same cited period last year and the highest reached in a three-month period, figures provided by the two automakers showed.Foreign production of Hyundai cars rose 4 percent on-year to 754,222 units, while numbers for Kia shot up 10.9 percent to 339,659 vehicles. Hyundai and
Domestic automobile exports jump 9.9% in March

Apr 8, 2014

South Korea’s automobile exports rose from a year earlier last month, partly on growing demand in the U.S., the government said Tuesday.In March, outbound shipments by the country’s five automakers came to 286,754 cars, up 9.9 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.The increase was in part due to increased number of workings days compared with the previous year and also improving conditions in advanced markets such as the U.S.“Automobile ex
Ford Korea CEO reelected as KAIDA chairman

Apr 6, 2014

Jung Jae-hee, chief executive of Ford Sales and Service Korea, will be seeking to serve his second term as chairman of the Korea Automobile Importers and Distributors Association, a business lobby group representing 23 foreign car brands here. In their general assembly meeting on March 28, KAIDA members agreed to reelect the incumbent chairman Jung, who has led the group since 2012, for another two-year term. Jung joined Ford’s Detroit head office in 1992 as a manager overseeing preparations fo
Tesla cars to get fewer green credits in California

Apr 6, 2014

Tesla Motors Inc., which had its first profitable quarter last year aided by sales of California environmental credits, is to receive fewer for each Model S sold as the state modifies its zero-emission vehicle program.The Palo Alto, California-based carmaker, which sold ZEV credits worth $129.8 million last year to other automakers, will initially qualify for only four credits per car sold in California and states that follow its rules. That’s down from seven per Model S through 2013, according