SsangYong Motor Co., part of India's Mahindra Group, announced on Aug. 1 that the company sold a total of 10,786 units in July 2019 – 8,707 units in domestic sales and 2,079 in exports, including CKD kits.SsangYong’s July sales dropped 16.5 percent from a year earlier, showing a decline in both
Many South Korean companies are having a hard time formulating their business strategies for the second half of this year. This is because the U.S.-China trade war is ongoing, both exports and domestic consumption are sluggish, and Japan’s economic retaliation is adding to their difficulties.Earlier
South Korean automakers and component producers have shifted into survival mode. Some of them have temporarily shut down their plants because of sluggish sales and started a large-scale restructuring of their overseas operations. One of the reasons for their dire situation is depressed global demand
SsangYong Motor Co., part of India's Mahindra Group, announced on July 1 that the company sold a total of 70,277 units in the first half of 2019 – 55,950 units in domestic sales and 14,327 in exports, including CKD kits.SsangYong’s H1 2019 sales increased 4.7 percent compared to the same period
The Sankei Shimbun reported on June 30 that the Japanese government would restrict exports of three chemical materials to South Korea starting from July 4 in response to the South Korean Supreme Court’s ruling regarding compensation for forced labor victims.The three materials are fluorine polyimide
The Chinese Embassy in Korea has proposed a meeting with the Korea Automobile Manufacturers Association (KAMA).Industry insiders say that on the surface, the embassy proposed the meeting to promote cooperation between the two countries in the field of automobiles and parts, but a more practical inte
SsangYong Motor Co., part of India's Mahindra Group, announced on June 3 that the company sold a total of 12,338 units in May 2019 – 10,106 units in domestic sales and 2,232 in exports, including CKD kits.SsangYong’s May 2019 sales decreased 4.6 percent from a year earlier. Its domestic sales im
Korea’s five major carmakers suffered a sharp drop in their sales overseas in May, while recording a small gain in their domestic sales.The five companies -- Hyundai Motor, Kia Motors, SsangYong Motor, GM Korea, and Renault Samsung Motors – saw their combined overseas sales drop by 40,106 units from
Hyundai Motor's compact sports utility vehicle (SUV) Tucson has beat GM Korea's Trax to become Korea's No. 1 export car model.Hyundai Motor exported a total of 83,579 units of the Tucson by April this year, according to the Korea Automobile Manufacturers Association (KAMA). This was the
A red flag has been raised for Korea's auto exports. The five automakers in Korea -- Hyundai Motor, Kia Motors, GM Korea, SsangYong Motor and Renault Samsung Motors -- suffered a setback in auto exports in April.Hyundai, SsangYong and GM Korea recorded a double-digit growth in domestic sales on
SsangYong Motor Co., part of India's Mahindra Group, announced on May 2 that the company sold a total of 12,713 units in April 2019 – 10,275 units in domestic sales and 2,438 in exports, including CKD kits.SsangYong’s April 2019 sales jumped 16.3 percent over April 2018, showing an uptrend by su
SsangYong Motor Co., part of India’s Mahindra Group, announced on April 29 that the company recorded its highest-ever Q1 revenue in 2019 as its business performance continues to improve.SsangYong Motor sold a total of 34,851 units in the first quarter of 2019 to post a revenue of 933.2 billion won,
South Korea’s auto industry is shrinking, with production, domestic consumption and exports all on a steady decline amid global economic slowdown, intensifying competition and labor strikes.Domestic automobile production and demand declined by 0.8 percent and 0.3 percent in the first quarter of this
Renault Samsung Motors’ export volume dropped more than 60 percent year on year in March, led by the strike at its Busan Plant. The plant produces the Nissan Rogue for the North American market until September this year. The survival of the automaker itself may be threatened if the strike continues
Renault Samsung Motors will launch a compact sports utility vehicle (SUV) in the Korean market next year. The carmaker plans to fill the vacuum to be created by the discontination of the Nissan Rogue production from this September by boosting sales of the new SUV.Renault Samsung Motors planned to la
SsangYong Motor Co., part of India’s Mahindra Group, announced on March 4 that the company sold a total of 9,841 units in February 2019 -- 7,579 units in domestic sales and 2,262 in exports.SsangYong’s February sales rose 8.3 percent over the same month last year, showing an uptrend at home and abro
The operating margin of Kia Motors Corp. stood at 2.1 percent last year. The figure was less than half of its major competitors in the United States and Japan. To make matters worse, the recent changes in the implementation of the Minimum Wage Act requires the company to increase the wages of 1,900
SsangYong Motor announced on Feb. 1 that it sold a total of 11,420 cars in January of 2019 -- 8,787 cars at home and 2,633 cars abroad, including those produced through the complete knock down (CKD) systems.The figure represented a 11.9 percent increase year on year. It is the first time in five yea
Hyundai Motor has begun to sell cars through internet broadcasting in the United States.Hyundai Motor said on Jan. 20 that its U.S. sales subsidiary Hyudani Motor America (HMA) began selling its products through “Hyundai Showroom Live” on Jan. 15 (local time). This is a program where car experts int
SsangYong Motor has decided to increase capital by 50 billion won (US$44.5 million) by issuing new shares to its majority shareholder, Mahindra & Mahindra Ltd. of India.The automaker will issue 11.89 million new shares, which represent 8.6 percent of the total number of shares issued before the capi