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The Korea Herald

Automobiles

February 01, 2019
Carmakers in Korea show mixed sales performance in Jan.

Hyundai Motor said on Feb. 1 its sales fell 7.7 percent last month from a year earlier on weak overseas demand. The carmaker sold 313,313 vehicles in January, down from 339,374 units a year earlier, the company said in a statement. Domestic sales shot up 18 percent to 60,440 units last month f...
January 31, 2019
SsangYong Motor’s net loss narrows in Q4

[THE INVESTOR] SsangYong Motor said on Jan. 31 its net loss narrowed for the October-December period from a year earlier on a strengthened lineup. It’s net loss reached 3.99 billion won (US$3.59 million) in the fourth quarter from 30.25 billion won a year ago, the company said in a statement. Ro...
January 30, 2019
Korea’s car exports up 18.5% in Q4

[THE INVESTOR] Exports of passenger car exports from Korea rose 18.5 percent in the fourth quarter of 2018 from a year earlier due to increased demand in the United States, Russia and Canada, customs data showed on Jan. 30. Local carmakers shipped 690,000 passenger cars worth US$10.7 billion d...
January 30, 2019
Hyundai sets up Genesis sales subsidiary in China

[THE INVESTOR] Hyundai Motor said on Jan. 30 it has set up a sales subsidiary in China for the sale of its independent Genesis brand luxury vehicles. The move is part of the Korean carmaker’s stepped-up efforts to revive sales in the world‘s biggest automobile market. Its sales in China ...
January 29, 2019
BMW completes 94% of EGR replacement

[THE INVESTOR] BMW Korea has replaced more than 100,000 units of the exhaust gas recirculation component in affected vehicles since a recall started five months ago, the company said on Jan. 29. A total of 100,090 BMW vehicles have had the EGR component replaced so far, which translates into a...
January 28, 2019
Efforts on to revive stalled Hyundai plant project

[THE INVESTOR] Efforts to revive a ruptured investment project between Gwangju City and Hyundai Motor are under way, a government official said on Jan. 28. “We are talking with Hyundai and the labor union again in order to renegotiate the Gwangju project since our new special employment advis...
January 28, 2019
Hyundai subsidiary wins preliminary approval for IPO

[THE INVESTOR] Hyundai AutoEver, an affiliate of Korean automotive conglomerate Hyundai Motor Group, has won approval for its planned initial public offering on the country’s main stock exchange, the bourse operator said on Jan. 28. After conducting a preliminary screening, the Korea Exchange...
January 28, 2019
SsangYong Motor to launch new SUV in March

[THE INVESTOR] SsangYong Motor said on Jan. 28 it will launch an all-new sport utility vehicle in March to boost sales. The carmaker has developed a midsize SUV under the project name C300 and has decided to name it Korando, the company said in a statement. It released a set of teaser imag...
January 28, 2019
Kia launches refreshed Sorento SUV

[THE INVESTOR] Kia Motors on Jan. 28 launched its refreshed Sorento sport utility vehicle in a move to strengthen its overall lineup. The upgraded vehicle comes with a differently styled dark chrome radiator grille and a set of advanced safety features, such as front collision warning and avoi...
January 25, 2019
Hyundai Mobis swings to a net profit in Q4

[THE INVESTOR] Hyundai Mobis said on Jan. 25 it shifted to a net profit in the October-December period due to a low base effect. A net profit of 419.8 billion won (US$375 million) was reached for the three months that ended in December from a net loss of 168.6 billion won a year earlier, the c...
January 25, 2019
Kia’s net profit falls 10% in Q4

[THE INVESTOR] Kia Motors said on Jan. 25 its net profit fell 10 percent in the October-December period from a year earlier. Net profit for the three months declined to 94.3 billion won (US$84 million) from 104.8 billion won the previous year, Korea’s No. 2 carmaker said in a statement. O...
January 24, 2019
Hyundai shifts to net loss in Q4

[THE INVESTOR] Hyundai Motor said on Jan. 24 it shifted to a net loss in the fourth quarter of 2018 due to a strong Korean currency and drop in demand in major markets. The carmaker posted a net loss of 203.3 billion won (US$180 million) in for the three months that ended in December. This is ...
January 24, 2019
Hyundai to set up Vietnam JV to bolster sales

[THE INVESTOR] Hyundai Motor said on Jan. 24 it will set up a joint venture with a Vietnamese company to boost sales in the emerging market. The Korean carmaker and Thanh Cong Group signed an initial agreement to establish a sales JV that will be tasked with selling 100,000 vehicles in Vietnam...
January 24, 2019
Hyundai heir assumes co-chairmanship of Hydrogen Council

[THE INVESTOR] Hyundai Motor Group Executive Vice Chairman Chung Eui-sun will assume the co-chairmanship of the Hydrogen Council, a consultative body of global business leaders to promote alternative energy use, the company said on Jan. 24. In a written inaugural address sent to the World Econ...
January 23, 2019
Kia launches all-new Soul, EV version due next month

[THE INVESTOR] Kia Motors on Jan. 23 launched the all-new Soul box car in Korea, with its electric version due out next month. The Soul Booster comes with a 1.6-liter gasoline turbocharged engine and a seven-speed dual-clutch transmission. It has 204 horsepower on tap and 27 kilogram-force met...

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