-
GM Korea's April sales fall 6.3% on weaker demand
GM Korea Co., the South Korean unit of General Motors Co., said Friday its sales fell 6.3 percent in April from a year earlier on lower demand for its models. The company sold 41,644 vehicles last month, down from 44,426 units in the same period last year, the company said in a press release. Domestic sales plunged 42 percent on-year to 1,326 units last month from 2,297, while exports declined 4.3 percent to 40,318 from 42,129. From January to April, total sales dropped 9.1 percent to 154,161 un
May 2, 2025 -
Hyundai, Kia see minimal impact from Trump’s ease of auto parts tariff
Although US President Donald Trump recently walked back parts of his automotive tariff policies, Hyundai Motor Company and Kia are anticipated to experience only insignificant benefits, sources said Friday. “The partial tariff exemption eases the tax burden for Hyundai Motor and Kia, lowering some of the price hike pressures due to rising costs,” said an industry source close to the matter on condition of anonymity. “However, this could benefit the carmakers only to some extent, as the 25 percen
May 2, 2025 -
Hyundai Ioniq 5 to receive IRA subsidy with US production shift
Hyundai Motor Co.’s Ioniq 5, its flagship electric, midsized SUV, became eligible to receive the US government-sponsored $7,500 consumer subsidy following the relocation of its vehicle and battery production to the US. According to a Hyundai Motor Group official on Friday, the US Department of Energy granted the subsidy for the Ioniq 5 for the second half of this year. The three-month delay in approval was reportedly due to the vehicle’s failure to fully meet requirements outlined in the Inflati
May 2, 2025 -
Sales of Hyundai, Kia in US rise 16% in April
Hyundai Motor Co. and its smaller affiliate Kia Corp. said Friday their combined vehicle sales in the United States surged 16 percent in April from a year earlier, driven by strong demand for sport utility vehicles. Hyundai and Kia sold a total of 162,615 vehicles in the US last month, up from 139,865 units a year ago, according to the companies' sales data. Hyundai's vehicle sales jumped 19 percent to 81,503 units from 74,111 over the cited period, while those of Kia advanced 14 percent to 74,8
May 2, 2025 -
Jaguar Land Rover rolls out trust-driven overhaul in Korea
Jaguar Land Rover, British premium car manufacturer, announced the introduction of a new customer care initiative in Korea that aims to address long-standing concerns over consumer trust, which has been a key obstacle to the brand’s growth here. The One Strategy initiative is "designed to redefine what a premium ownership experience means in Korea,” said Robin Colgan, managing director of JLR Korea, during a media conference held Wednesday in Seoul. The strategy includes extending warranty cover
April 30, 2025 -
LG Energy Solution’s Q1 profit surges on cost cuts, ESS pivot
LG Energy Solution said Wednesday it turned a profit in the first quarter, with aggressive measures to improve cost efficiency amid rising uncertainty in the US tariff policies. According to the company’s earnings release, its sales revenue and operating profit rose 2.2 percent and 138.2 percent to 6.26 trillion won ($4.38 billion) and 374.7 billion won, respectively, in the first quarter of this year. Its operating profit margin improved by 9.5 percentage points from the previous quarter, reach
April 30, 2025 -
LG Energy Solution to set up battery recycling JV in Europe for 1st time
LG Energy Solution said Tuesday it is poised to establish a joint venture for electric vehicle battery recycling in France with Derichebourg, a local environmental services company, marking South Korea’s first recycling joint venture in Europe. The new recycling plant, set to be built in the Val d’Oise region of northern France, will start construction next year and become fully operational by 2027. Its annual capacity to process used batteries is expected to be more than 20,000 metric tons. The
April 29, 2025 -
LG Electronics showcases new infotainment solutions with Taiwan's MediaTek
LG Electronics Inc. said Tuesday it has showcased a next-generation in-vehicle infotainment system in collaboration with Taiwan's semiconductor company MediaTek Inc. The system, unveiled at the ongoing Auto Shanghai 2025, allows customers to enjoy different content on multiple displays in a vehicle using only one chip and operating system, according to LG Electronics. Through this collaboration, LG Electronics has integrated MediaTek's "Dimension Auto Platform" system-on-chip with its own multiu
April 29, 2025 -
With US tariffs looming, CATL accelerates Korean shift to protect global sales
China’s CATL, the world’s largest electric vehicle battery juggernaut, has established a sales subsidiary in South Korea, seeking a bigger foothold on the home turf of Korean competitors as part of a strategic move to counteract the impact of Donald Trump’s unprecedented tariffs levied on Chinese goods. Industry insiders project that the bold entry of CATL, capitalizing on its strong price competitiveness, will likely spark intense competition with Korean battery companies. However, local carmak
April 28, 2025 -
New Cadillac Escalade resonates symphony of success
The Cadillac Escalade has long been regarded as an American icon of success as the flagship, luxury sport utility vehicle of General Motors. Now the new, facelifted Escalade has touched down in the Korean market with its incomparable aura. The Korea Herald had a chance to get behind the wheel of the new Escalade for a 120-kilometer test drive in Seoul and Gyeonggi and Gangwon Provinces last week. The test drive began at the parking tower of the Grand Walkerhill Seoul. The five-star hotel is no s
April 28, 2025 -
Hybrids drive Hyundai, Kia SUV sales
Four out of ten Hyundai Motor Company and Kia sport utility vehicle buyers opted for hybrid models in the first quarter of this year in the South Korean market, highlighting the penetration of dual-power vehicles amid a slowdown in electric vehicle demand. According to industry sources Sunday, Hyundai Motor and Kia sold 150,492 SUVs, of which 59,386 units were hybrids, accounting for 39.5 percent. Last year, the domestic sales of Hyundai and Kia hybrid SUVs nearly doubled from 117,499 units in 2
April 27, 2025 -
Hansae Mobility bets on innovation, US growth amid tariff risks
Based in Daegu, Korea, Hansae Mobility is one of the world’s leading halfshaft suppliers, delivering to a wide range of global automakers from mass market brands, including Stellantis and Volkswagen, to luxury brands such as Porsche and Maserati. A halfshaft transmits rotational force from the engine or motor to the wheels, with flexibility that ensures its function remains unaffected by drivetrain twists. Despite growing concerns over potential tariffs on car parts in the US, the destination of
April 25, 2025 -
SK On scores 20GWh battery supply deal with US EV startup Slate
SK On announced Friday that it has secured a contract with US electric vehicle startup Slate to supply 20 gigawatt-hours of EV batteries as the Korean battery maker continues to expand its customer portfolio in the North American market. The 20 GWh battery supply agreement, which is enough to power about 300,000 mid-sized EVs, will begin next year and last through 2031. Although the value of the contract was not disclosed, industry watchers estimate that the deal is approximately worth 4 trillio
April 25, 2025 -
Hyundai Mobis posts record Q1 earnings on high-value parts, aftersales segment growth
Hyundai Mobis Co., the auto parts arm of Hyundai Motor Group, said Friday its first-quarter operating profit surged 43.1 percent on-year to 776.7 billion won ($541.8 million), marking its highest-ever first-quarter performance, thanks to a rise in demand for high-value components. Sales for the January–March period rose 6.4 percent on-year to also reach a new first-quarter high of 14.75 trillion won, while net profit climbed 19.6 percent to 1.03 trillion won on a consolidated basis, the company
April 25, 2025 -
Hyundai Motor posts record Q1 sales, profit despite US tariff woes
Hyundai Motor Company achieved record-breaking sales and profit for the first quarter amid deepening concerns over the 25 percent tariffs on automobiles and car parts imposed by US President Donald Trump. According to the carmaker’s earnings report on Thursday, its sales revenue increased 9.2 percent to 44.4 trillion won ($31 billion), while its operating profit climbed 2.1 percent to 3.6 trillion won from January to March compared to last year. Its operating profit margin hit 8.2 percent. Hyund
April 24, 2025