South Korea's five automakers saw their sales figures decrease last month for the third consecutive month. They have been suffering from sluggish sales in both domestic and global markets after March this year and double-digit drops in sales from April. The sales decline in May is mainly attributed
SsangYong Motor Company, part of the Mahindra Group, announced on June 1 that the company sold a total of 12,349 units last month – 10,238 units in the domestic market and 2,111 in overseas.SsangYong’s sales in May soared by 11.5 percent from the previous month, largely helped by domestic sales grow
SsangYong Motor Co. plans to revive a stagnant domestic full-size SUV market through the G4 Rexton premium authentic sport utility vehicle (SUV) which was officially released on April 25.The G4 Rexton features strong and dynamic exterior designs. The shoulder wing emblem located in the center is org
Ssangyong Motors announced on May 17 that it will reinforce its sales network in Saudi Arabia and strengthen its presence in the Middle Eastern market in earnest.Ssangyong Motors opened a new dealership and launched a new model in Riyadh, the capital of Saudi Arabia on May 15 (local time).Ssangyong
South Korean construction companies invested in by Middle Eastern sovereign wealth funds around the same time have shown starkly different business performance, attracting attention. A strategic investor, which became a wholly owned subsidiary, had a synergy with winning overseas projects, while a f
It has been found that the five South Korean automakers’ overseas and domestic sales volumes in April fell 11.3% and 5% from a year ago to 656,735 and 132,675 units, respectively.Hyundai Motor Company’s domestic sales volume edged up by 1.5% from a year earlier to 60,361 units, led by the New Grande
Ssangyong Motors took the wrap off the Tivoli Air diesel model at a press event of the 2017 Shanghai Auto Show on the National Center for Exhibition and Convention on April 19."In its 60-year history since its inception, Ssangyong Motors has grown into a world-class SUV-specialized company with know
When Kumho Tire is sold to China’s Doublestar, more than 800 technologies owned by Kumho Tire are highly likely to be transferred to China. Accordingly, there are growing concerns that the sale of Kumho Tire, one of the mainstays of the competitiveness in the domestic tire industry, will lead to cor
A large number of South Korean companies will participate in Saudi Arabia’s Vision 2030 project to promote its seven major industries.South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan visited Riyadh, Saudi Arabia, from April 3 to 4 (local time) and held discussions with Khaled Al-Fa
It has been found that the Hyundai Motor Group, GM Korea, Renault Samsung Motors and Ssangyong Motor sold a total of 733,274 cars across the world last month, down 7.7% from a year ago.Their combined sales volume in the South Korean market fell 1.9% year on year to 145,903 while their total exports
SsangYong Motor will invest a total 1 trillion won (approximately US$900 million) for the coming four years to develop electric vehicles (EV) jointly with India-based Mahindra Group and launch them in 2019. “We are aiming to develop high-end EVs by 2019 to enter the U.S. and Chinese markets,” Anand
Ssangyong Motor announced on March 27 that it has confirmed “G4 Rexton” as the name of a new large sports utility vehicle (SUV) developed under the project name “Y400.”"The model name of the G4 Rexton car shows its willingness to inherit the brand value of Rexton, the flagship model of the Ssangyong
Joo Hyung-hwan, Minister of Trade, Industry and Energy, told lawmakers at a meeting at the National Assembly on March 20, “When Kumho Tires, which signed a share purchase agreement (SPA) with China’s Doublestar, asks for approval of sale, we will make final decision after consulting with the Ministr
Ssangyong Motor announced on March 20 that its executives and senior managers held the “Ssangyong Leaders Round Table (SLRT)” to share the company’s management status and achieve 2017 management goals.About 200 senior managers of Ssangyong Motor, including CEO Choi Johng-sik and executives and team
SsangYong Motor Company, part of the Mahindra Group, announced on February 27 that the company signed a product licensing agreement with Saudi National Automobiles Manufacturing Co. (SNAM) for the production of premium SsangYong pick-up model in Saudi Arabia with the aim to enter the local automotiv
The global sales of South Korean carmakers grew from a year earlier last month with sales growing both at home and abroad. Notably, Hyundai Motor’s new Grandeur sedan and Renault Samsung’s SM6 sedan, which are popular models, boosted the total sales in the domestic market.According to auto industry
It has been found that Hyundai Motor cars occupied nearly the half of vehicles suspected of having suddenly started, which the National Institute of Scientific Investigation was asked to check over the past 10 years.According to a report on accidents suspected of being jack-rabbit starts that the Na
Hyundai Motor, which suffered from sluggish demand at home last year, tried to reverse the situation with a new Grandeur. But since even the beginning of this year, the automaker has suffered a decline in its domestic market share. Analysis says that if this holds, the automaker will fail to maintai
It has been found that South Korean automakers sold a total of 8,890,445 cars around the world last year, down 1.3% from a year earlier, with a slump in emerging markets and intense competition in the Chinese market resulting in Hyundai Motor Company’s negative growth in sales and exports and Kia Mo
According to the automobile industry on December 1, five domestic automakers (Hyundai, Kia, Korea GM, Renault Samsung and Ssangyong) sold 868,458 units at home and abroad last month. This is a 5.56 percent increase over the same period last year (822,753 units).In particular, in the Korean market, s