The Korea Herald

Hyundai Motor seeks hybrid cars’ EU market debut

Nov 18, 2012

Korea’s No. 1 automaker aims to lift production capacity by 250% in three years
BMW widens its luxury-car sales lead after Oct. gain

Nov 11, 2012

Bayerische Motoren Werke AG widened its lead in luxury-car sales last month as demand for the 1- Series and X1 compact models helped it outpace gains by German rivals Audi AG and Daimler AG’s Mercedes-Benz. BMW-brand deliveries increased 15 percent to 132,823 cars and sport-utility vehicles in October, the Munich-based manufacturer said in a statement. That compares with growth of 14 percent to 123,600 deliveries at Audi and 6 percent to 109,632 vehicles at Mercedes. Even with the debt crisis de
Female leadership gains ground in auto industry

Nov 11, 2012

Korean-based and import carmakers seek female talent with global mindset
BMW narrows Mercedes’ lead in U.S.

Nov 4, 2012

BMW’s U.S. sales rose 21 percent in October, narrowing the lead of Daimler AG’s Mercedes-Benz in luxury-auto deliveries this year. Sales for BMW climbed to 26,451 vehicles last month, boosted by a 26 percent gain for its 3-Series. Mercedes yesterday reported a 5.9 percent increase from a year earlier to 23,978, helped by updated versions of the C-Class small sedan. Toyota Motor Corp.’s Lexus rose 9.7 percent to 19,850.The October results trimmed Mercedes’s lead to 2,748 vehicles, from 5,221 at t
Renault Samsung Motors eyes leap with new midsized sedan SM5

Nov 4, 2012

Renault Samsung Motors’s flagship mid-size sedan, the SM5, was introduced in 1998 and has been one of the best-selling models in the segment here. On Friday, the Korean unit of the France-based Renault Group unveiled the New SM5 Platinum, a facelift for the third generation 2010 model. The new SM5 has fresh styling with a new chrome grille and a more voluminous bumper. The overall exterior represents the steady-seller car’s futuristic and dynamic makeover. Especially, the newly-equipped LED head
VW threatens to end GM’s 8-year China lead

Nov 4, 2012

After trailing General Motors Co. in China for eight years, Volkswagen AG edged ahead in the third quarter, putting it one step closer to its goal of becoming the world’s biggest automaker. VW’s deliveries in the country jumped 21 percent last quarter, almost triple GM’s growth, to 704,991 vehicles, according to figures the company reported.That beat the 664,765 that GM reported earlier this month. At stake is supremacy in the world’s biggest auto market, which analysts say will likely exceed th
FTAs boost import vehicle sales: KAMA

Nov 4, 2012

Foreign brands post 15.5 percent growth despite economic slowdown
EPA finds Hyundai, Kia overstated gas mileage

Nov 3, 2012

Hyundai and Kia, Korea's two biggest automakers, overstated the gas mileage on 900,000 vehicles sold in the past three years, a discovery that could bring sanctions from the U.S. government and millions of dollars in reimbursements to car owners.The inflated mileage was uncovered in an audit of test results by the Environmental Protection Agency, which ordered the Korean automakers to replace fuel economy stickers on the affected cars. The new window stickers will have figures that are one-to-si
Hyundai Motor rating raised by Moody’s on profitability

Oct 30, 2012

Hyundai Motor Co., South Korea’s largest automaker, and its affiliate Kia Motors Corp., had their credit ratings upgraded one level by Moody’s Investors Service, citing the carmakers’ profitability and global reach.Ratings on the senior unsecured bonds of the two Seoul- based automakers were raised to Baa1, the third-lowest investment grade, from “Baa2,” Moody’s said in a statement Tuesday. The outlook for the rating, which affects about $2.1 billion in debt, is stable, Moody’s said.The higher c
Current account surplus widens in September

Oct 30, 2012

South Korea’s current account surplus widened in September from the previous month as exports expanded at a faster rate than imports, the central bank said Tuesday.The current account surplus reached $6.07 billion in September, up from a revised $2.5 billion in the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The September figure marked the largest surplus since a record high of $6.14 billion in July.The September surplus marke
Samsung SDI sees Q3 net grow more than 10-fold

Oct 30, 2012

Samsung SDI Co., the world’s top maker of plasma display panels and renewable batteries, said Tuesday its net profit jumped more than 10-fold in the third quarter from a year earlier thanks to solid battery sales and a one-off profit.Net profit came to 1.2 trillion won ($1.1 billion) in the July-September period, compared with a profit of 100 billion won the previous year, the company said in a regulatory filing.Sales increased 3.8 percent on-year to 1.5 trillion won in the cited period, while o
Toyota extends global lead over GM on quarterly gain

Oct 28, 2012

Toyota Motor Corp.’s worldwide sales grew 18 percent last quarter on U.S. demand for Camry sedans and Prius hybrids and helped Asia’s largest automaker expand its lead over General Motors Co., the global volume leader in 2011. Toyota delivered 2.43 million cars and trucks in the quarter that ended Sept. 30, including subsidiaries Hino Motors Ltd. and Daihatsu Motor Co., up from 2.06 million a year ago, according to figures provided by Yurika Motoyoshi, a company spokeswoman, yesterday. Its sales
BMW 1 Series unrivaled in premium compact class

Oct 28, 2012

BMW Korea aims to sell 3,000 units next year
Strikes dent Hyundai Motor's 3Q profit

Oct 25, 2012

Hyundai Motor Co. suffered a fall in third quarter profit versus the previous quarter after strikes dented vehicle production.South Korea's largest automaker said Thursday net profit fell 15 percent from the April-June quarter to 2.16 trillion won ($1.96 billion). It was Hyundai's first sequential drop in quarterly profit in a year. The result, which matched forecasts, was still a 13 percent rise over a year earlier. Its operating profit fell 18 percent from the second quarter to 2.05 trillion
Hyundai eyes million-car production in China

Oct 23, 2012

After 10 years in China, Korean auto giant seeks to further expand its operation