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Retail Asia13/02/2019

Truong Hai Auto Corporation (THACO) is planning to issue more than 30.3 million shares to a strategic shareholder. The company is currently collecting shareholders’ opinions on a draft resolution to authorize a private placement worth an estimated total of VND3.89 trillion ($167.19 million) to Jardine Cycle & Carriage, a Singaporean diversified conglomerate that specializes in […]

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Retail Asia30/01/2019

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 compact crossover SUV will have smart safety features, such as lane […]

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Retail Asia29/01/2019

Kia Motors’ sales expanded last year, but profits faltered. Korea’s second-largest carmaker by sales said Friday it posted 94.3 billion won ($84 million) in net profit for the fourth quarter last year, a 10 percent drop year on year. Though the carmaker’s revenue in the fourth quarter increased by 3.6 percent to 13.47 trillion won due […]

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Retail Asia25/01/2019

Kia Motors said Thursday its Niro electric vehicle has won British consumer magazine and website What Car?’s Car of the Year Award. Kia said the model received high scores for its long range and reasonable price. The Niro also won the Electric Car of the Year. This year’s What Car? awards were given to 25 […]

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Retail Asia22/01/2019

Despite a government shutdown, Hyundai and Kia are moving ahead with a recall of about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stems from improper repairs during previous recalls for engine failures. The affiliated Korean automakers have been dogged by fire and engine failure complaints from across […]

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Retail Asia22/01/2019

SUVs have recently grabbed the spotlight in Korea, breaking both local and export sales records. According to the Korea Automobile Manufacturers Association (KAMA), the number of exported SUVs by five local automakers reached a new record of 1.38 million units in 2018, a 6.7 percent increase from the previous year. In just 17 years, the […]

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Retail Asia03/01/2019

Hyundai Motor, Korea’s largest carmaker by sales, said Wednesday its December sales rose 0.4 percent from a year earlier on weak overseas demand. Hyundai sold 410,326 vehicles last month, up from 408,637 units a year earlier, the company said in a statement. Domestic sales jumped 22 percent to 64,835 units last month from 53,361 a […]

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Retail Asia27/12/2018

Vehicles from Hyundai Motor and Kia Motors were awarded three top safety prizes in the Ministry of Land, Infrastructure and Transport’s 2018 Korean New Car Assessment Program (Kncap) on Wednesday in a ceremony held at the InterContinental Seoul Coex in southern Seoul. Hyundai Motor’s hydrogen-powered sport-utility vehicle (SUV) Nexo, mid-sized sedan Genesis G70 and Kia […]

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Retail Asia17/12/2018

Hyundai Motor Group has introduced a 1.67 trillion won ($1.49 billion) support program for small and midsized auto parts suppliers, the company said Thursday. As auto parts suppliers in Korea tend to be highly dependent on the performance of carmakers, the sluggish performance of Korea’s largest auto group by sales this year has been a […]

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Retail Asia05/12/2018

Kia Motors’ compact K3 GT hatchback stays true to its GT moniker with its impressive driving experience, but sacrifices comfort in search of a sportier style. Across an 80 km (50 mile) drive from Namyangju to Paju in Gyeonggi on Nov. 22, the K3 GT zipped across a course that mostly covered highways. Its driving […]

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Retail Asia15/11/2018

Representatives of Korea’s major automakers and parts makers and industry officials gathered in Seoul Wednesday to discuss ways to breathe new life into the sluggish sector. The chief executives of the big five automakers — Hyundai Motor, Kia Motors, GM Korea, Renault Samsung and Ssangyong Motor — and their local parts makers and industry associations […]

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Retail Asia12/11/2018

Hyundai Motor and Kia Motors will jointly invest $250 million into the world’s third-largest ride-hailing operator Grab, eyeing shared mobility services as a way to overcome faltering car sales, the companies said Wednesday. Hyundai has already injected $25 million into Grab in January, so total investment on the Singapore-based company adds up to $275 million. […]

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Retail Asia06/11/2018

Kia Motors on Monday launched an all-in-one mobile app that integrates all of its scattered online customer service channels. The new app, dubbed VIK, offers 60 different services including information on car purchases, maintenance and customer membership points and a basic guide to its driver assistive technologies. “It’s like having a virtual assistant specializing in […]

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Retail Asia30/10/2018

Kia Motors Friday reported a swing to profit in the third quarter from a loss a year earlier. For the three months ending Sept. 30, Kia posted a net profit of 297.74 billion won ($262 million) from a net loss of 291.77 billion won a year ago, the company said in a statement. “In the […]

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Retail Asia25/09/2018

Kia Motors will directly hire 1,300 employees at its contractors by next year in response to the Moon Jae-in administration’s goal of reducing the number of contract workers, the carmaker announced on Thursday. If it completes the transition, Kia Motors will have directly hired all contracted workers at its factories. Since 2015, Korea’s No. 2 […]

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Retail Asia24/08/2018

Kia Motors, Korea’s second-largest automaker, said Thursday that it has unveiled its KX1 entry-level SUV in China in its latest move to meet the demands of young customers. The KX1 SUV comes with a 1.4-liter MPI gasoline engine mated to a five-speed manual gearbox or a six-speed automatic transmission, the carmaker said. Chen Bingzhen, a […]

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Retail Asia30/07/2018

Kia Motors said Friday that its second-quarter net profit fell 15 percent from a year earlier on a strong won and increased incentives to cut inventories. Net profit for the three months that ended on June 30 fell to 331.8 billion won from 389.6 billion won a year earlier, the company said in a statement. […]

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Retail Asia25/07/2018

Hyundai Motor and affiliate Kia Motors said on Friday that they would achieve their sales target for the year by launching new sport utility vehicles in two major auto markets, the United States and Europe, in the second half. In separate biannual meetings with overseas sales executives, Hyundai and Kia discussed measures to achieve their […]

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Retail Asia29/05/2018

Sales of hybrid vehicles made by Hyundai Motor and its affiliate Kia Motors in the United States rose 7 percent in the first four months of this year from a year earlier, industry data showed Sunday. The two Korean carmakers sold a combined 15,930 hybrid models in the January-April period, including 7,927 units of Kia’s […]

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Retail Asia22/03/2018

Kia Motors on Tuesday started to receive preorders for the overhauled version of its K9 large-size sedan, a model which is expected to play a decisive role as the company seeks to change its image and diversify its brand. The automaker sees the success of the K9 as representative of the entire K series. If […]

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