Imported car sales have been on a steady decline this year. However, car importers are preparing to make a major comeback in April, the peak season. They are seeking to promote imported car sales by addressing a shortage of imported cars and launching new models that were recently introduced at the
In March, the number of newly registered imported passenger cars dropped 31.5 percent on year due to delayed certification and inventory shortage.The number of imported passenger cars newly registered in March stood at 18,078, down 31.5 percent from the same month of 2018 and up 13.8 percent from Fe
Mercedes-Benz Korea has become the last importer of foreign cars in Korea to join the Takata airbag recall movement. The company has decided to carry out the first recall for Takata airbags, yet market experts point out that it is still slow to respond as it is recalling only 742 out of the 18,274 c
Imported car sales have plunged in Korea. Sales in January and February dropped 17 percent compared to last year. Market watchers even say that the figure will show a larger drop in the second half of the year as the fuel tax and individual consumption tax cuts end in the first half. Sales of import
Mercedes-Benz Korea will issue a recall of its flagship luxury sedan S-Class cars.Mercedes-Benz Korea has found defects in automated steering functions of S-Class models. It reported the defects to the Korean Ministry of Land, Infrastructure and Transport (MOLIT) and is drawing up a report on how it
Last year, import cars’ share of the South Korean market reached a record high as the number of newly registered foreign brand cars rose by 11.8 percent over the previous year.The Korea Automobile Importers & Distributors Association said on Jan. 4 that the number of imported cars registered in Kore
Korea will become a hot spot in the areas of telematics, navigation system, connected car, and driver assistance system, said a top executive of Mercedes-Benz on Nov. 7.“Mercedes-Benz will cooperate with Korea in these fields,” said Markus Schaefer, a management board member of Mercedes-Benz Cars re
Mercedes-Benz won back first place in the import car market in Korea in one month.According to the Korea Automobile Importers & Distributors Association (KAIDA) on Nov. 5, Mercedes-Benz sold 6,371 units in the domestic market in October. Mercedes-Benz ranked first in import car sales by August this
It has become unclear whether or not the Korean import car industry will be able to post 250,000 units in annual sales as they wished, as unfavorable factors such as BMW's recall and the tightening of exhaust gas regulations have put the brakes on rapid sales growth.According to the automobile b
Samsung Electronics' brand value reached US$60 billion, ranking sixth in the world. Hyundai Motor and Kia Motors ranked 36th and 71st respectively. The total value of these three brands hit more than US$80 billion. According to the 'Best Global Brands (2018)' Report released on October 4
The Chinese government has excluded electric cars equipped with Korean batteries from the list of electric vehicles eligible for subsidies once again. A Mercedes-Benz electric car loaded with batteries manufactured by SK Innovation was expected to be included in the list but failed to make the list.
Sales of import cars in Korea are expected to reach 300,000 units for the first time despite BMW fire accidents. In particular, sales of luxury cars that cost 100 million won (US$90,000) or more per unit are on a sharp rise.Imported car sales are growing rapidly due to the resumption of sales of Aud
Hyundai Motor secured a bridgehead into the US considered the biggest future car market while investing in Migo, a car sharing information provider in the US. The investment in Migo is the sixth investment deal related to the sharing economy since launching a car sharing service using the Ioniq Elec
Some of Volvo's new flagship models have begun to be produced in China. But many Korean consumers still do not trust cars made in China yet. Thus, attention is being paid to whether or not Volvo Korea will maintain its growth in Korea, shaking off concern in the market.According to Volvo Korea o
SK Innovation is expanding its electric vehicle battery business. It has broken ground on a battery factory in China to take part in a competition with global players, including Japan’s Panasonic, China’s CATL, and Korea’s LG Chem and Samsung SDI.On August 22, SK Innovation announced that the compan
The popularity of diesel models is on the skids not only in Korea but also worldwide.It has become highly likely that gasoline cars’ market share will outweigh those of diesel cars in the import car market within this year following the domestically produced car market.Thanks to the steady popularit
The smart speaker market competition has begun at home and abroad. Using an artificial intelligence (AI) platform, smart speakers recognizes the voice of users and allows them to stream music, search information and check news.In particular, smart speaker developers are in a tough competition to pre
The Chinese government excluded electric cars loaded with Korean batteries from its subsidy list once again. Although there was earlier an optimism that China's sanctions will be lifted, Korean batteries will have more uncertainties in the Chinese market as Korean battery-powered vehicles are ex
The Ministry of Land, Infrastructure and Transport said on May 10 that seven companies including Hyundai Motor and Mercedes-Benz would make a voluntary recall of 4,506 cars and construction machines as defects were found in them.The front and back windowpanes of 714 units of Hyundai Motor’s three mo
In the first quarter of this year, sales of imported cars in the Korean market grew 22.6% from a year earlier. While the market share of automakers in Korea has been shrinking due to a plunge in GM sales in Korea, import cars are stepping up its sales efforts in the Korean market.According to the Ko