Toyota Motor Corp. won final approval of a settlement, valued at as much as $1.63 billion by plaintiff lawyers, with U.S. consumers who claimed that recalls related to sudden, unintended acceleration caused their vehicles to lose value. U.S. District Judge James V. Selna, who gave the accord preliminary approval in December, signed off on it at a hearing Thursday in Santa Ana, California. The judge in June had delayed a decision until he received further documentation how the money would be dist

Competition to grab a job at the Korean unit of Porsche appears to be reaching fever-pitch. Kim Geun-tak, who is to lead Porsche Korea when it opens later this year, is currently recruiting staff to create a solid base to start from, according to industry sources. “Except for those who are working for one of the German big three brands (BMW, Mercedes-Benz and Audi), the jobs seem to be quite attractive,” said one source, requesting anonymity. It is common for import carmakers to rehire most of t

Novelis Asia chief seeks to expand partnership with Korean carmakers

Hyundai Motor Co. is “on track” to see sales rise 4.4 percent to 734,000 vehicles in the U.S. this year, even as factory capacity constraints have limited the automaker’s sales growth to just 1.2 percent in the first half, the carmaker’s U.S. chief said. “Our year is going well if you measure it by, ‘Are you selling everything you can build?’” John Krafcik, chief executive officer of Hyundai Motor America, said Friday at a briefing in Ann Arbor, Michigan on the automaker’s 2014 Equus sedan. “It’

Orders are pouring in. Mercedes-Benz Korea has sold more than 1,000 of the new E-Class in the first two weeks since its launch here last month. Facelift models usually don’t go too far out on a limb, but the new E-Class is barely recognizable from the original. It’s still the classy car it was, but with a bold new flavor of pizzazz to attract a new generation of car buffs. The woman behind this success is Britta Seeger, the chief executive who is aiming to sell 7,000 of these crimped new models

Wang Jiangwei recalls spending last summer sweating through a month of military drills conducted by Chinese People’s Liberation Army instructors. Wang isn’t a soldier; he’s a researcher at Great Wall Motor Co. His Baoding, China-based employer is so profitable, it generates a fatter margin than any listed carmaker in the world. Behind the success is chairman Wei Jianjun, who has built China’s biggest SUV maker with a leadership style that stands out for its emphasis on discipline and frugality.

Hyundai Motor on Sunday announced additional price cuts to its top-selling vehicles, including its Grandeur flagship sedan, as part of efforts to maintain its market dominance amid the increased presence of import brands here. In its latest round of price cuts, Hyundai plans to reduce the price tag of the Grandeur by 1 million won ($875) from Monday, with reductions for three others ― the i40, i40 Saloon and Veloster ― to be 300,000 won each, the carmaker said.  The move comes after Hyundai’s mo

I dislike SUVs. That’s something I’ve realized test-driving a string of cars these past few months. First of all, they are physically challenging. I have to literally clamber up behind the wheel. Another reason I don’t like them is because I feel I’m about to scrape off the hood whenever I drive into an underground car park. Third and not least, because they are usually diesels, the loud purr of their engines really gets to me.But I must say, the Grand Cherokee from Jeep was a gamechanger. They

Munich, Germany ― It was through countless quintessential German villages that I maneuvered the BMW’s new 5 Series ― the 530d Sedan and the 535i Grand Turismo. Making my way on the indefinitely winding roads to a golf course near Aschheim where BMW runs its test track, I realized why the 5 Series stands as one of the most successful lineups in the world, especially the sedans: All you had to do was slip your foot on the accelerator, and off she went. The roar of the engine ― a straight four-cyli

Designer Peter Schreyer lauds Chung Mong-koo’s car-making vision