Hyundai Motor Group and Japanese automakers, including Toyota and Nissan, are making aggressive investment plans in India, the world's third-largest auto market, indicating that intense competition is looming.According to the Society of Indian Automobile Manufacturers (SIAM) and industry insider
The Korea Chamber of Commerce and Industry and 12 South Korean business groups, including Samsung, SK, Hyundai Motor, LG, Lotte and Hanwha, hosted Korea Night 2023 in Davos, Switzerland.The event was to help Busan become the venue of Expo 2030. South Korean President Yoon Suk-yeol attended it, too.T
SsangYong Motor will be renamed KG Mobility and its new models will be launched under the KG brand, Kwak Jae-sun, chairman of KG Group, which has acquired the ailing automobile company, said.“We have decided to go for a new name to fully utilize the strength of SsangYong Motor,” said Kwak, who doubl
Hyundai Motor Group ascended to the top spot in India’s car market in May.Hyundai Motor Co. and Kia Corp. sold a combined total of 36,501 cars in India in May, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on June 16. The Korean automobile group surpassed local
Three foreign automakers operating in Korea -- Renault Samsung Motors, GM Korea, and SsangYong Motor -- have been hit by a triple whammy: labor-management disputes, sluggish sales and a shortage of semiconductors.Renault Samsung Motors' labor union will go on a general strike indefinitely starti
Mando has signed contracts with China's Voyah and Russia's Gaz to supply parts for advanced driver assistance systems (ADASs). Mando’s ADAS products such as front cameras and front radars will go into Voyah and Gaz cars.To enter the global ADAS market in earnest, Mando has recently acquired
The Reserve Bank of India (RBI) has approved Mahindra & Mahindra's capital reduction plan for its 75 percent stake in SsangYong Motor, clearing a big hurdle for the ailing automaker’s implementation of a pre-packaged restructuring plan (P-Plan).As the RBI has approved Mahindra & Mahindra’s capit
Mercedes-Benz and BMW sold more cars than GM Korea, Renault Samsung Motors and SsangYong Motor in South Korea last month. This is the first time that the former two outperformed the three. The dominance of Hyundai Motor Group, Mercedes-Benz and BMW in the South Korean car market is continuing to inc
SsangYong Motor Co., part of India's Mahindra Group, announced on March 2 that the company sold a total of 2,789 units in February 2021 -- 2,673 units in domestic sales and 116 in exports.SsangYong’s February 2021 sales plunged 60.9 percent over the same month last year due to 14-day suspension
SsangYong Motor has got one step closer to a court receivership as its pre-packaged bankruptcy plan (P-Plan) hit a snag.Choi Dae-hyun, senior vice president of Korea Development Bank (KDB), said at an online press conference on Feb. 2 that the potential investor left Korea on Jan. 31 without making
SsangYong Motor, part of India's Mahindra Group, announced on Feb. 1 that the company sold a total of 8,678 units in January 2021 – 5,648 units in domestic sales and 3,030 in exports.The company’s January sales rose 13.4 percent over the same month last year thanks to a recovery in exports, desp
While SsangYong Motor's future is on the line, concerns are growing about the future of GM Korea and Renault Samsung Motor, the remaining foreign carmakers producing cars in Korea.The two companies' parents are implementing belt-tightening measures amid a massive conversion to electrificatio
SsangYong Motor is seeking to attract US$250 million in investment from U.S. auto retailer HAAH Automotive.SsangYong Motor and HAAH Automotive will sign an investment agreement in early February at the earliest and submit a pre-packaged bankruptcy plan (P-Plan) to the court.A prepackaged bankruptcy
SsangYong Motor Co., part of India's Mahindra Group, announced on Jan. 29 that it sold 107,416 units, posted revenue of 2,950.2 billion won, an operating loss of 423.5 billion won, and a net loss of 478.5 billion won in 2020.Despite efforts to reduce fixed costs through strong self-rescue effort
SsangYong Motor has been pushed one step closer to falling under court receivership as HAAH Automotive of the United States has notified Mahindra & Mahindra of India, the largest shareholder of the troubled automaker, and Korean creditors of the collapse of its acquisition negotiations.Without addit
India's Mahindra & Mahindra, the largest shareholder of SsangYong Motor has declared that it will pull out of the negotiations over the sale of SsangYong Motor.Mahindra & Mahindra reportedly halted its talks with HAAH Automotive of the United States about selling its stake in SsangYong Motor to
Mahindra & Mahindra, HAAH Automotive Holdings and the Korea Development Bank (KDB) are failing to reach an agreement on whether Mahindra & Mahindra has to remain in SsangYong Motor as a shareholder. HAAH is a potential SsangYong acquirer and the KDB is the main creditor bank to SsangYong.The four si
Hyundai Motor Co. and Kia Motors sold a combined total of 315,532 sports utility vehicles (SUVs) in India in 2020, up 45.6 percent from a year ago. Their share of the SUV market rose from 28.7 percent in 2019 to 44.6 percent. Almost one out of every two SUVs sold in India was from Hyundai or Kia.Ind
Korea Development Bank (KDB) and Mahindra & Mahindra of India are at loggerheads over financial support for SsangYong Motor, which applied for a corporate rehabilitation process at the end of 2020.The court has allowed SsangYong Motor to undertake autonomous restructuring support (ARS) efforts until
SsangYong Motor, part of India's Mahindra Group, announced on Jan. 4 that the company sold a total of 10,591 units in December 2020 -- 8,449 units in domestic sales and 2,142 in exports. The company’s monthly sales have maintained the level of 10,000 units for three consecutive months since Octo