The average unit price of Korean auto exports decreased for the third straight quarter, contributing to the worsening performance of the car industry.According to industry sources and the Korea Automobile Manufacturers Association on July 29, five local car makers exported 809,643 units in the secon
South Korea's auto industry has been suffering from strikes every summer. However, it is wrapping up talks on wages relatively fast, without particular disputes this year.As there are growing concerns over struggling auto industry at home and abroad due to the economic recession, the labor union
In the first half of the year, compared to the previous year, the number of recall cases has jumped 26 percent. And GM Korea is ranked first among them.According to the defect reporting center of the Transportation Safety Authority, among local carmakers, GM cars top the recall list, whereas Mercede
Ssangyong Motor Co., owned by India’s Mahindra & Mahindra, announced on July 23 that it sold a total of 69,800 cars, including 45,410 units in the domestic market and 24,390 units in the overseas market, in the first half of this year. The company also said that it posted 1.6 trillion won (US$1.37 b
Korean automakers are suffering from lackluster sales and the weak yen. Nevertheless, labor unions are putting pressure on them, threatening to go on strike.In May this year, the Hyundai Motor Company sold 54,990 and 334,309 cars inside and outside of Korea, respectively. The total went down by 6.4
This year, 23 cars have been chosen to get their fuel efficiency verified. The figure has been increased by nine vehicles, or 64 percent, from 14 last year.As the targets have been largely expanded, and the verification method has stricter than last year, auto makers seem uneasy about their models p
The Federation of Korean Trade Unions (FKTU) has decided to go on a general strike. It announced on July 2 that 442,547 out of its 772,158 members participated in recent voting from June 15 to 30, and 397,453 of them voted for the strike.The FKTU’s resolution of the strike is the first time in 18 ye
The Hyundai Motor Group, GM Korea, Ssangyong Motors, and Renault Samsung Motors sold 135,218 cars in the Korean market last month to record an 11.5 percent increase from a year ago and an 11.3 percent increase from a month earlier. It was recreational vehicles that led the growth. For example, the s
The Ministry of Trade, Industry & Energy (MOTIE) and the Small and Medium Business Administration (SMBA) said on June 30 that they have jointly selected 30 small and medium-sized enterprises (SMEs) eligible for support in accordance with the “2015 World Class 300 & Global Businesses Nurturing Projec
Hyundai Motor Co.'s Accent subcompact is the best-selling export model among domestically-produced cars.According to the “Auto Industry Trend Report” published by the Korea Automobile Manufacturers Association (KAMA) on June 24, the Accent is the most exported car model from Jan. to May this yea
Korea’s automobile exports declined for five months in a row due mainly to the weak yen and recession in emerging economies. Besides, Korean automakers’ domestic sales remained in the doldrums last month to signal a bumpy road ahead of them.The Ministry of Trade, Industry & Energy announced on June
Hyundai Motor Company, Kia Motors, GM Korea, Renault Samsung Motors, and Ssangyong Motors sold a total of 716,885 cars in May this year, a 4.2 percent decline from a year ago.The sales volume dropped by 6.4 percent for Hyundai Motor Company, 4.6 percent for Kia Motors, and 0.8 percent for Ssangyong
Ssangyong Motor’s long time dream has come true. The annual sales of the Tivoli compact sport utility vehicle (SUV) are expected to top 100,000 units next year, a significant number for a single car model. It has been 62 years since Ssangyong Motor was established in 1954.There is a lot of work that
Domestic automakers that showed poor performance in the first quarter are now doing better.According to the May 1 performance data of the five domestic automobile manufacturers – Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors, and Ssangyong Motor – Renault Samsung Motors recorded the be
Ssangyong Motor announced on April 22 that it sold a total of 32,915 cars – 21,107 units in the domestic market and 11,808 units in overseas markets – in the first quarter.During this period, the company recorded 760.4 billion won (US$701.93 million) in sales, 34.2 billion won (US$31.57 million) in
The Korea Automobile Manufacturers Association announced on April 7 that the combined domestic sales of GM Korea, Ssangyong Motors, and Renault Samsung Motors increased 9.5 percent to 72,289 cars for the first quarter of this year from a year earlier. GM Korea recorded a decline of 0.3 percent, but
Nearly one out of four large listed companies, meaning those of which surpassed 1 trillion won (US$921.74 million) in sales last year, could not even meet their interest payments with their operating profits.According to Chaebul.com, 37 out of 157 listed companies that exceeded 1 trillion won (US$92
Ssangyong Motor President Choi Johng-sik said, “We are aiming to sell 150,000 units this year, and expecting to easily achieve the sales target after finishing the first quarter if this trend continues.”He said at the Seoul Motor Show on April 2, “We have orders coming in for twice the demand foreca
Thanks to the increased popularity of sports utility vehicles, the sales of five automakers in Korea increased dramatically last month compared to the previous year. According to auto industry sources on April 1, sales of the five domestic carmakers – Hyundai Motor, Kia Motors, GM Korea, Renault Sam
Ssangyong Motor (www.smotor.com) has started exporting its Tivoli compact sport utility vehicle (SUV), which is already popular in the domestic market. Ssangyong Motor will begin shipments of about 2,000 units of the Tivoli to Europe and Latin America, specifically Belgium, the U.K., Spain, Italy, C