Tag: automative

  • SUV, minivan sales set new H1 record

    SUV, minivan sales set new H1 record

    [THE INVESTOR] South Korean carmakers’ SUV and multipurpose vehicle sales hit a new first-half record this year aided by new models, and the tax cut on new purchases, industry data showed on July 19. According to industry figures, 271,523 units of SUVs and multipurpose vehicles produced by local carmakers were sold here during the first […]

  • Hyundai Motor chief to meet heads of overseas operations

    Hyundai Motor chief to meet heads of overseas operations

    [THE INVESTOR] Hyundai Motor Group chairman Chung Mong-koo is scheduled to hold a meeting with some 60 heads of overseas operations at the Seoul headquarters on July 18 to discuss ways to elevate the carmaker’s slowing sales. The meeting, held twice a year, comes after the nation’s largest carmaker — the fifth globally — suffered […]

  • Former chief of Volkswagen Korea summoned over emissions scandal

    Former chief of Volkswagen Korea summoned over emissions scandal

    A former CEO of the local branch of Volkswagen was summoned by prosecutors Tuesday over the German carmaker’s alleged irregularities that came to light following last year’s emissions scandal. The Seoul Central District Prosecutors’ Office summoned Park Dong-hoon as a material witness to gain background information. Prosecutors said his status can change to that of […]

  • Malibu Hybrid misses low-pollution certification

    Malibu Hybrid misses low-pollution certification

    [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 […]

  • Effect of tax cut tapers off in car sales

    Effect of tax cut tapers off in car sales

    Growth in Korea’s auto market tapered off this year despite a consumption tax cut program on passenger cars, industry data showed Wednesday. Korean and foreign carmakers sold a combined 637,369 units in the first five months of this year, up 8.3 percent from 588,541 units from the same period last year, according to the data […]

  • Hyundai’s i30 compact Australia’s best-selling car for 3 months in row

    Hyundai’s i30 compact Australia’s best-selling car for 3 months in row

    [THE INVESTOR]  Hyundai Motor’s i30 compact maintained it spot as Australia’s best-selling vehicle for the third consecutive month in May, government data showed. The data compiled by Australia’s Federal Chamber of Automotive Industries showed that South Korea’s top automaker sold 3,771 units of its i30 compact in Australia in May, up 126 percent from a […]

  • VW offers apology with no mention of Korea

    VW offers apology with no mention of Korea

    [THE INVESTOR] Volkswagen held its first annual shareholders meeting in Hanover, Germany, on June 22 (local time), the first in nine months since it became embroiled in the emissions rigging scandal. While the senior management and directors apologized and explained its ongoing recall plans in Germany and the US, there were no mention of compensatory […]