The Korea Herald

Genesis tops dependability ranking in United States

Feb 16, 2012

Hyundai Motor’s Genesis was the highest-ranked model in the midsize premium car segment in the 2012 Vehicle Dependability Study conducted by U.S.-based J.D. Power.The VDS, which was released on Feb. 16, measures problems experienced during the past 12 months by the original owners of three-year-old (2009 model year) vehicles.The Genesis received 81 points in the annual test, an all-time low ― which is the best performance ― for Hyundai Motor vehicles in the VDS.The BMW 520d and Mercedes-Benz E33
More Koreans in 20s buy import cars

Feb 15, 2012

Import car sales to consumers under 30 increased while the percentage of young customers in the overall market including Korean carmakers dropped last year.According to the Korea Automobile Manufacturers Association, combined car sales by local and foreign automakers to consumers in their 20s stood at 140,777 units in 2011, down 6.4 percent from a year earlier.Further, sales to consumers under 20 declined by 17.4 percent to 1,897 units.As a result, the percentage of consumers under 30 dropped by
Ssangyong targets European car market

Feb 14, 2012

Ssangyong Motor unveiled its business strategy to expand its presence in the European market, saying that it will showcase the XIV-2 concept model at the Geneva International Motor Show in March.The XIV-2, the concept vehicle as a premium crossover utility vehicle, is aimed at increasing sales in Europe, the company said in a statement.Based on the hardtop XIV-1 concept from last year’s Frankfurt show, Ssangyong says the XIV-2 blends “the characteristics of a robust and powerful SUV with the dyn
Hyundai, Toyota vie for cheaper hybrids

Feb 13, 2012

Hyundai Motor and Toyota Motor have launched a keen competition to dominate the emerging hybrid car market in Korea this year.Though the ratio of hybrids out of the total cars sold by Korean companies stayed at 1.3 percent last year, and 3.7 percent of import brands, they recently vitalized the eco-friendly car marketing and sales.Toyota Motor Korea, which launched the New Camry Hybrid in January, will unveil three models of the New Prius series ― Prius S, Prius M and Prius E ― next week.The Pri
Lexus, Volvo most recalled cars in Korea

Feb 12, 2012

28,000 imported cars called back for defects in 2011The number of imported cars subject to recalls for manufacturing faults has surged over the past five years.According to the Ministry of Land, Transport and Maritime Affairs, more than 28,000 imported cars were recalled in 2011, while the number remained below 8,000 in 2006.As foreign automakers saw their 2011 sales reach 105,037 units last year, the figure is equivalent to about 27 percent of the imports sold here.Lexus, the premium brand of
BMW fined $3 million by U.S. for delaying auto defect reports

Feb 12, 2012

Bayerische Motoren Werke AG, the world’s largest premium automaker, must pay a $3 million U.S. civil penalty for delays in reporting auto-safety defects and recalls of about 338,700 vehicles in 2010.Munich-based BMW’s fine is the largest related to safety by the U.S. National Highway Traffic Safety Administration, the investigator of automobile defects and regulator of recalls, since the record $16.4 million levied against Toyota Motor Corp. in 2010. It’s NHTSA’s second-largest penalty since at
Imported car registration tops 600,000

Feb 12, 2012

The number of imported vehicles that were registered in South Korea surpassed the 600,000 mark for the first time last month as demand grows among local consumers for cars manufactured by overseas automakers, data showed Sunday.A total of 606,825 imported cars were registered as of the end of January, up from the 597,766 vehicles registered the previous month, according to the data from the Korea Automobile Importers and Distributors Association (KAIDA).The local market for imported cars has bee
Imported car registration tops 600,000

Feb 12, 2012

The number of imported vehicles that were registered in South Korea surpassed the 600,000 mark for the first time last month as demand grows among local consumers for cars manufactured by overseas automakers, data showed Sunday.A total of 606,825 imported cars were registered as of the end of Januar
Kia Motors named best low-cost ownership brand in U.S.

Feb 10, 2012

Korea’s Kia Motors Corp. said Friday that it was named the best low-cost ownership brand in the United States, outperforming rivals such as Toyota Motor Corp. and General Motors Co.Kia Motor was awarded the inaugural 2012 Total Cost of Ownership Awards, which is given to brands and vehicles with the lowest projected ownership expenses by Kelly Blue Book (www.kbb.com). Korea’s second-largest carmaker received the highest points after calculating depreciation, fuel costs, fees associated with fin
BMW to recall 2,231 cars for faulty cooling pumps

Feb 9, 2012

BMW will recall 2,231 vehicles sold in South Korea for manufacturing defects that could cause overheating and fire in cooling pumps, the transportation ministry said Thursday.Subject to the recall are Mini Cooper S models manufactured between March 1, 2007 and Jan. 18 of last year in its British plant, according to the ministry.The cars were found to have problems with cooling pumps designed to blow more air into engines for better combustion. The defect could cause overheating and fire, the min
Avante Coupe makes debut in U.S.

Feb 9, 2012

Hyundai Motor unveiled the Avante Coupe, dubbed the Elantra Coupe in North America, during the 2012 Chicago Auto Show.Hyundai, set to launch the two-door midsize sedan in Korea and major overseas markets, picked the U.S. market as its first target.“The Avante Coupe is equipped with a 1.8-liter engine with 148-horsepower,” the company said Thursday. “It will hit showrooms in the U.S. during the first half of the year.” In addition, the carmaker introduced the i30 hatchback, dubbed the Elantra GT
Import cars capture 8.9% of Korean market

Feb 6, 2012

Foreign carmakers grabbed nearly 9 percent of the automobile market in Korea last month, marking the second-highest monthly share in history.According to the Korea Automobile Importers and Distributors Association, sales of import cars came to 9,441 units in January, up 9 percent from a year earlier.The import cars accounted for 8.92 percent of the combined sales, including made-in-Korea cars, totaling 105,889 units last month.Their market share is the second-highest since they posted 8.96 perce
Honda runs Super Bowl ads in U.S.

Feb 5, 2012

Honda Motor Co., coming off its worst year in the U.S., has produced two offbeat Super Bowl ads with stars Matthew Broderick and Jerry Seinfeld to revive interest in its brands.Honda will air the two 60-second spots during Feb. 5’s Super Bowl after sitting out last year’s game. A commercial promoting its CR-V crossover has actor Broderick behaving like his character in 1986’s “Ferris Bueller’s Day Off.” An Acura ad has car collectors Seinfeld and “Tonight Show” host Jay Leno competing for the fi
Hyundai eyes greater dominance in India market

Feb 5, 2012

Local unit CEO says its strategy focuses on growing premium brandHyundai Motor Co. has set long-term strategies to go full-throttle in India’s mid-sized and luxury segments to dominate an industry still in its early stages, said Park Han-woo, CEO of Hyundai Motor India.“It is a great opportunity for us that India’s car market is becoming ever more competitive. We’re a strong player in the compact segment already, but our long term plans are to achieve such status in the mid-sized, luxury and spo
[Korean auto sales down 1.7% in Jan.]

Feb 1, 2012

Korea’s five automakers led by market leader Hyundai Motor Co. on Wednesday reported a 1.7 percent drop in January sales due to a slump in domestic demand.The combined sales of the carmakers came to 617,506 vehicles in January, compared with 626,806 units sold a year earlier, according to data released by the companies.Their domestic shipments reached a combined 96,448 units last month, down 20 percent from 120,557 a year earlier. Overseas sales, however, including cars exported from South Korea