[THE INVESTOR] GM Korea’s Malibu Hybrid has failed to obtain a low-pollution certification, making it ineligible for tax benefits on eco-friendly cars, government and industry sources.On July 3, GM Korea notified through its website that benefits for purchasing hybrid vehicles are not applied to the Malibu Hybrid. According to the Ministry of Environment, the Malibu Hybrid is excluded from the measure due to failing emission standards. MalibuAt 95 grams per kilometer, the vehicle meets carbon di

[THE INVESTOR] The outlook for South Korea's automotive market in the second half of the year appears uncertain with the special tax cut ending as of July 1. The special consumption tax cut which was introduced to boost consumption ended on June 30. The government had cut the special consumption tax rate from 5 percent to 3.5 percent in August 2015 as a temporary measure. While the measure contributed to first half sales rise, its ending is expected to weigh down local carmakers in the second ha

[THE INVESTOR] GM Korea’s monthly domestic sales climbed to a record high in June aided by rising sales of the city car Spark and midsized sedan Malibu, the company announced on July 1. The company’s figures showed that domestic sales came in at 18,058 units in June, rising 47.6 percent compared to the same month last year. The figure is the highest since GM Korea was established in 2002. Sales of the Malibu sedan more than tripled from a year ago to come in at 6,310 units, while Spark sales inc

[THE INVESTOR] The sales of imported automobiles for corporate use has plunged this year, hamstringed by tougher regulations of corporate vehicles. Industry data showed on July 1 that the number of imported cars registered to corporations during the first five months of the year dropped 15.6 percent compared to the same period last year. The fall has been attributed to the regulation changes aimed at preventing corporate vehicles being used for personal purposes. From January to May, 33,071 impo

[THE INVESTOR] Korea’s major automakers are set to strengthen their sport utility vehicle lineup in the US market, local news reported. Hyundai Motor and Kia Motors, which currently sell four SUV models sold in the US, are planning to double the number by 2020, an industry insider was cited in the report. Against the rising demand for SUVs in the US, sales of Hyundai’s Santa Fe and Tucson in May jumped by 88 percent and 90 percent on-year in the country, respectively, while sales of Kia’s Sorent