CarIsYou said on Jan. 4 that the Hyundai Grandeur was the most popular model in the new car market of South Korea last year. “Last year, the annual sales volume of the model dropped 40.1 percent to 87,985 after having exceeded 100,000 for four years in a row and this is because the global automotive
Sales of imported cars ascended from 22,321 units in January to 26,191 units in June, but their sales began to decrease in July, falling to 18,764 units in October and 18,810 units in November, according to the Korea Automobile Importers and Distributors Association (KAIDA).The figures dropped by 5,
The importance of software is continuing to increase in the automotive industry with the development of electric vehicles, autonomous driving and connected cars. Multiple hardware components and controllers used in internal combustion engine vehicles are being replaced with integrated software. For
Toyota sold no electric, hydrogen, LPG and gasoline vehicles at all in South Korea last year, when it sold 14,168 hybrid and plug-in hybrid electric vehicles in South Korea and its low-pollution car supply rate calculated by the South Korean government was 43.7 percent. The figure is the highest of
French Secretary of State for Digital Transition and Electronic Communications Cédric O joined a conference in Seoul on Nov. 17 and proposed a closer collaboration with South Korean EV battery manufacturers.Earlier, French President Emmanuel Macron announced last month that France would invest 30 bi
Chinese manufacturers’ LFP batteries are attracting increasing attention in the global EV battery market as major EV manufacturers such as Tesla and Mercedes-Benz are adopting those batteries as a solution to rapidly rising raw material prices.Under the circumstances, South Korean EV battery manufac
Despite a severe global semiconductor shortage, global eco-friendly car sales were strong this year. In the electric car sales standings, Hyundai Motor Co. came in sixth, while Tesla remained in the top spot.From January to September 2021, 2.92 million electric vehicles were sold worldwide, up 153 p
The Ministry of Environment announced on Nov. 3 that Mercedes-Benz Korea (four models) and Stellantis Korea (two models) illegally manipulated emissions for a total of 4,754 diesel vehicles sold in Korea. The ministry plans to file a criminal complaint against the automakers with the prosecution and
Imported car sales in October fell 22.6 percent from a year ago as the automotive semiconductor shortage continued. By brand, BMW returned to the top spot of the monthly sales standings in a year and two months, beating Mercedes-Benz.The number of newly registered imported cars stood at 18,764 in Oc
Hyundai Motor Group announced on Oct. 27 that its IONIQ 5 has won a 2022 German Car of the Year (GCOTY) award in the “New Energy” category. As a class winner, the automaker’s full-electric midsize CUV will automatically take part in the final round of the GCOTY. IONIQ 5 will compete against the winn
The Korea Fair Trade Commission reached a conclusion on Sept. 9 that Mercedes-Benz Korea may have violated the Fair Labeling and Advertising Act in selling cars with exhaust gas data manipulated. The commission sent its report to that effect to the company and decided to handle the issue at its gene
Austria's ZKW, an automotive lighting equipment subsidiary of LG Electronics, announced on Sept. 2 that it will expand its production lines in Mexico.ZKW's plant in Silao, Mexico, has been manufacturing premium lighting systems since 2016. This time, it will more than double the plant site f
BMW Korea, Honda Korea and Jeep Korea considerably increased their sales volumes last month, when South Korean automakers stepped backwards with the only exception of Kia.Last month, Honda sold 327 cars in the South Korean market, up 153.5 percent from a year ago. Jeep Korea’s sales volume increased
With imported cars expanding their market share in Korea, luxury imported cars worth more than 100 million won are enjoying strong sales.Imported cars worth 100 million won or higher sold 39,965 units in the first seven months of the year, accounting for 23.2 percent of the 172,146 imported cars sol
Genesis' first electric vehicle (EV) G80 has sold more than 2,000 units, emerging as the best-selling model in the domestic luxury EV market, which has been dominated by imported brands.The electrified G80 model was released on July 7 and exceeded 2,000 units in orders in three weeks.The G80 EV
CarIsYou Data Lab announced on Aug. 3 that a total of 159,043 cars were newly registered in South Korea last month, down 4.8 percent from the previous month and down 8.6 percent from a year ago.The figure is divided into 134,158 domestic and 24,885 imported cars. The figures fell 13.1 percent and ro
BusinessKorea and the Korea Corporate Reputation Research Institute recently conducted a brand reputation survey on 25 imported car brands. In the big data analysis-based survey for July this year, Mercedes-Benz took the top spot, followed by BMW and Audi. For the survey, BusinessKorea and the insti
The Tesla Model 3 topped the list of imported cars sold in South Korea last month. In the previous month, the list was topped by the Tesla Model Y.Last month, Tesla sold 2,884 Model 3s in South Korea and the number skyrocketed from 126. The Model Y sales volume was 3,328 in May and 1,972 in June, wh
The sales volume of imported cars increased 15.2 percent year on year in the first half of this year. The most popular foreign car brand was Mercedes-Benz, followed by BMW, Audi, Volkswagen and Volvo. In that period, Mercedes-Benz Korea and BMW Korea sold more cars than GM Korea, Renault Samsung Mot
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY and target price of KRW37,000; all OLED divisions to generate profit in 2H21 We maintain BUY on LGD and our TP of KRW37,000, as we expect all three OLED divisions (large, small-/mid-sized and autom