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The average unit price for exported automobiles last year reached a record high of $15,400, pushed up by the strong performance of sport-utility vehicles (SUVs), according to industry statistics Thursday. Monthly data from the Korea Automobile Manufacturers…
SsangYong Motor, the Korean unit of Indian carmaker Mahindra & Mahindra, said Thursday its net losses narrowed for the October-December period from a year earlier on a strengthened lineup. Net losses reached 3.99 billion won ($3.59 million) in the fourth…
Kia Motors announced Monday it has begun rolling out the 2020 model of its Sorento sport-utility vehicle (SUV) for sale. The updated Sorento comes with new safety features applied to all of its diesel trims and a refreshed design. The diesel version of the…
Hyundai Mobis, Korea’s biggest auto parts maker, said Friday it shifted to net profit in the October-December period due to a low base effect. A net profit of 419.8 billion won ($374.1 million) was achieved for the three months that ended in December, from a…
Hyundai Motor swung to a net loss in the fourth quarter last year, largely due to the strength of the won over the U.S. dollar and weak global sales. It is the worst quarterly earnings reported since 2010, when the company first started posting earnings based…
Hyundai Motor Group, Korea’s biggest carmaker by sales, said Monday it has developed a safer airbag deployment system to better protect people from multiple crashes. The advanced airbag system immediately prepares for additional crashes once it recognizes an…
Things aren’t looking good for beleaguered German automaker BMW, with yet another vehicle reported to have burst into flames on Christmas Day. A BMW 520 sedan caught fire at around 6 p.m. on Tuesday in Gongju, South Chungcheong. Earlier that day at 1 a.m.,…
In Swedish, “safety” translates to “säkerhet,” but for employees of one of Sweden’s biggest employers, it might as well translate to “Volvo.” The automaker, owned by Zhejiang Geely Holding Group of China, is fiercely protective of its reputation in safety.…
Indonesia has the potential to become the biggest carmaker in Southeast Asia within the next five years, the country’s automotive industry association Gaikindo said on Wednesday (Feb 3). Indonesia can compete, and overtake Thailand’s automotive industry if…
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