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South Korea's Hyundai Motor Co. launched its new rear-wheel drive Genesis luxury sedan Tuesday, setting a goal of selling 55,000 of the vehicles this year. Hyundai Motor said in a statement it invested 500 billion won (US$533 million) to develop the car over the past four years. It sees the Genesis as a competitor to ...
Hyundai Motor Co. is looking for a site in Brazil to build its first factory in South America, a company spokesman said Friday. The South Korean company previously announced a plan to build in Brazil, and spokesman Jake Jang quoted Hyundai vice-chairman Kim Dong-jin as telling new Hyundai employees on Friday that a site was being ...
Hyundai Motor is forecasting a double-digit increase in sales for 2008 on expanded overseas production and stronger marketing. The South Korean automaker says global sales this year will total 3.11 million vehicles, an increase of 19.6 per cent from 2007. The company says that will generate US$49 billion in revenue in 2008. That's an increase of 12.2 ...
Hyundai Motor Co. won't meet its target to sell 300,000 vehicles from its Alabama plant this year due to sluggish demand in the U.S. due to the mortgage crisis, the company said Tuesday. Hyundai Motor sold 237,000 vehicles from the plant through the end of November and expects sales for the year to reach about 250,000. Hyundai ...
Hyundai Motor Co. said Wednesday it will not consider producing mini-cars in South Korea due to low profit margins, a company spokesman said. ``Sales of vehicles with one-liter engines and smaller in Korea do not make high profits,'' Hyundai Motor spokesman Jake Jang said, adding that Hyundai gave up producing mini-cars in South Korea in 2002. Mini-car ...
Hyundai Motor Co. said Monday it plans to build a factory in Russia, though key details including the location of the plant and size of the investment remain undecided. Hyundai Motor chairman Chung Mong-koo disclosed the plan in a meeting with Russian government officials in Moscow on Friday, Hyundai spokesman Ki Jin-ho said. Chung said the ...
Hyundai Motor says its third-quarter net profit rose 44.8 per cent. The South Korean automaker says it earned US$464.6 million, up from US$320.4 million in the year-ago period. The result was better than analyst estimates of a net profit of US$356.9 million. Sales during the quarter rose 19.6 per cent to US$7.69 billion for what Hyundai says ...
South Korea's Hyundai Motor Co. said Wednesday it will shut its auto plant in Alabama for 10 days during the fourth quarter amid sluggish demand. ``We have decided to halt the U.S. plant for three days in October and a combined seven days in November and December due to a slowdown in sales,'' said Ki ...
SEOUL, South Korea (AP) _ An appeals court suspended a three-year prison sentence for Hyundai Motor Co. chairman Chung Mong-koo on Thursday, saying the tycoon is too important to South Korea's economy to go to jail for embezzlement. A three-judge panel at the Seoul High Court suspended the sentence for five years, meaning that the ...
SEOUL, South Korea (AP) _ An appeals court suspended on Thursday a three-year prison term handed to Hyundai Motor Co. Chairman Chung Mong-koo for embezzlement, saying the tycoon is too important to South Korea's economy to go to jail. A three-judge panel at the Seoul High Court suspended the sentence for five years, meaning that ...
SEOUL, South Korea (AP) _ Hyundai Motor Co. and its labour union have agreed on a new wage deal, the company said Tuesday, likely averting a threatened strike. Hyundai Motor spokesman Jake Jang had no details on the deal other than that one had been reached. The most recent negotiations between management and the union ...
SEOUL, South Korea (AP) _ Hyundai Motor Co. said Saturday its labour union has voted in favour of going on strike amid annual wage negotiations. According to an e-mail from the automaker, 28,243 union members voted in favour of the strike, while 12,544 opposed it. It was not immediately clear, however, when a walkout might ...
SEOUL (AP) _ South Korea's biggest automaker Hyundai Motor Co. said Thursday its second quarter net profit rose 52 per cent from a year earlier on robust domestic demand and cost-cutting efforts. Hyundai Motor, the world's sixth-largest carmaker by sales, said net profit for the three months through June grew to 611.5 billion won (US$666 ...
DETROIT (AP) _ When it comes to car quality, think South Korean. Hyundai Motor Co. leads in five categories in the annual vehicle quality study released Monday by Strategic Vision Inc., a San Diego-based market research company and consultant to automakers. Hyundai's rise in the rankings is only the latest sign of the improved overall ...
SEOUL, South Korea (AP) _ Hyundai Motor Co. chairman Chung Mong-koo, appealing an embezzlement conviction and prison sentence, on Tuesday affirmed his promise to donate one trillion won (US$1.1 billion) worth of personal assets to society. Chung, who made the pledge last year as part of a public apology and attempt to earn leniency amid ...
SEOUL, South Korea (AP) _ Hyundai Motor Co. said net profit declined for a fifth straight quarter as sales fell on labour strikes, a stronger South Korean won and intense competition in China. Hyundai Motor, the world's sixth-largest automaker, said Wednesday that net profit in the first quarter ended March ...
SEOUL, South Korea (AP) _ Hyundai Motor Co. said Wednesday it may begin manufacturing pickup trucks if a free trade agreement between South Korea and the United States that would scrap U.S. tariffs on the vehicles takes effect. ``We will conduct a feasibility study on the pickup truck model as ...
DETROIT (AP) _ Japanese automakers are driving North Americans toward a cleaner environment, while their U.S. counterparts are producing cars and trucks ranked among the worst when it comes to smog emissions and global warming, according to a report released Tuesday by an environmental group. Honda and Toyota lead the ...
SEOUL, South Korea (AP) _ Hyundai formed a partnership with German chipmaker Infineon Technologies AG to jointly develop automotive electronics, South Korea's largest automaker said Friday. Under the agreement, the two sides opened a joint research centre at Hyundai Motor Co.'s headquarters in Seoul to develop electronic parts for cars ...
Hyundai Heavy Industries Co., the world's largest shipbuilder, said Thursday its fourth-quarter and annual profits soared on increased orders and higher prices. Hyundai Heavy earned 295.7 billion won (US$315 million; euro242 million) in the three months ended Dec. 31, the company said, more than quadrupling from 69.6 million won in ...
Hyundai Motor Co. said Thursday its fourth-quarter profit slumped 22 per cent from a year earlier, hit by a strong South Korean currency, labour unrest and share-price weakness at affiliate Kia Motors Corp. The world's sixth-largest automaker earned 537.2 billion won (US$574 million) in the three months ended Dec. 31, ...
Hyundai Motor Co.'s union decided to end a strike Wednesday after the company agreed to pay full bonus payments, officials said, resolving one of the latest obstacles facing South Korea's largest automaker. Hyundai agreed to pay the remainder of an agreed bonus of 11/2 months, but only after workers meet ...
Prosecutors demanded a six-year prison term for Hyundai Motor Co. cairman Chung Mong-koo on embezzlement and other charges Tuesday, adding to the woes of the largest South Korean automaker. Chung, 68, has been on trial since June on charges of illegally raising a slush fund from affiliates from which authorities ...
Unionized workers at Hyundai Motor Co. began a promised partial strike Monday amid a dispute with management over bonuses, a union official said. The walkout, which was approved last week by union representatives, began as scheduled Monday afternoon, said Jung Jun-yung, the head of the union's overseas co-operation department. Unionized ...
Riot police were deployed at Hyundai Motor Co.'s headquarters in Seoul on Wednesday as around 1,000 workers held a largely peaceful protest amid a dispute with management over bonuses. The head of the company's labour union also threatened future strikes as protesters chanted and carried banners with slogans including ``Drop ...
Hyundai Motor Co. is targeting vehicles such as the Honda Pilot and the Toyota Highlander with its new mid-sized crossover, the Hyundai Veracruz, introduced Monday at the North American International Auto Show. The seven-passenger Veracruz will arrive in the United States in February, company officials said. No selling price was ...
Hyundai Motor Co. and its affiliate Kia Motors Corp. on Monday blamed a strong Korean won and production losses from summer strikes for poor third-quarter earnings results. Hyundai, which together with Kia forms the world's sixth-biggest automaker, said net profit for the quarter ended Sept. 30 dropped 47 per cent ...
Hyundai Motor Co., the world's sixth-largest automaker, said Friday it is in talks with the Uzbekistan government to buy state-owned UZ-Daewoo Motors, formerly owned by South Korea's now-defunct Daewoo Group. ``Nothing has been decided,'' said a Hyundai Motor spokesman, Jake Jang. ``The talks between the two parties are under way.'' ...
Shopping for Hyundai cars is not significantly different that shopping for any other type of automobile.  A little common sense will go a long way in making sure that you get the best car for your buck and for your lifestyle.  Below are a few tips to help make your ...
SEOUL (AP) _ Hyundai Motor Co. and its labour union tentatively agreed Wednesday to end a month-long strike that had driven South Korea's largest automaker to suspend exports, a company spokesman said. The two sides reached the agreement, which calls for a 5.1 per cent pay increase, in negotiations held in the southeastern industrial city of ...

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