Tag Archives: kia

Korean Auto Sales Surge as Japanese Remain Sidelined

Korean auto sales increased sharply in July while Japanese automakers watched as depleted inventories once again cut into their normal sales levels. Korean automakers Hyundai and Kia posted huge gains and a record month. A combination of high fuel economy and low prices – helped by the Korean Won – saw double-digit sales gains at both automakers. Still, several questions remain about the ability of Korean automakers to continue to grow at the significant rates they have been achieving. Continue reading

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Ford of Europe CEO Stephen O’Dell Calls for a Comprehensive Industrial Policy and Rejection of Korean FTA

Odell also criticized a proposed Korean trade agreement, which in a different form is also controversial in the U.S. However, Ford in the U.S. supports a pending Korean FTA, which is opposed by all major U.S. unions except for the United Autoworkers. A Ford spokesperson was unable to explain the disparity in the conflicting positions. Continue reading

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Kia Loses $40 Million for Death Caused by Defective Seatbelt

At the trial evidence was introduced by the law firm Cunningham Bounds that said in 2002, the National Highway Traffic Safety Administration inquired about the buckle problem, and in late December 2002 Kia issued a safety defect recall, but only for model years 1995 through 1998 vehicles.

Kia in response to the verdict said, “We maintain that the evidence at trial clearly demonstrated that the vehicle’s occupants were not wearing seat belts at the time of the accident. We will petition the court to set aside the verdict and if necessary, file an appeal with the Alabama Supreme Court.” Continue reading

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Korean Automakers Post Huge U.S. Sales Gains as Disputed Free Trade Agreement Heads for Congressional Approval

Some of the biggest sales gains in May were posted by Korean automakers Hyundai (up 20.7% versus a year ago) and Kia (up 53.4%). Combined, the two Korean automakers sold more than 100,000 vehicles for the month. Korea is the fifth largest producer and fourth largest exporter of motor vehicles in the world.

However, Korea ranks at the very bottom — 30 out of 30 among the largest automotive markets — for auto market access. The average among major developed economies is 40% market penetration by imported automobiles, but in Korea, the total of import vehicles from all global manufacturers in all countries entering the Korean market is around 3.6%. This is about 40,000 vehicles in a market that buys roughly one million vehicles annually. Continue reading

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Kia Rio Hatchback Will Debut at New York Auto Show

Thus far with sales of about 2,000 units a month in the U.S., the Kia Rio has been an insignificant factor in the hard fought sub-compact sales wars led by Honda Fit, Nissan Versa and Toyota Yaris. Continue reading

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Chevrolet Miray Voted Best Concept at Seoul Motor Show

The Chevrolet Miray was named Best Concept Car at the 2011 Seoul Motor Show. Journalists attending the show voted their favorite cars in three categories: Best Concept Car, Best Green Car and Best Passenger Car. The Miray, which made its world premiere in Seoul, received the most votes among concept cars on display.

The Miray roadster is significant because it was developed at the General Motors Advanced Design Studio in Seoul, increasingly the source of small car work for the U.S. based and taxpayer owned GM. Continue reading

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Chevrolet Miray Hybrid Electric Debuts at Seoul Motor Show

Chevrolet introduced the Miray concept hybrid electric vehicle at the 2011 Seoul Motor Show today. The roadster is significant because it was developed at the General Motors Advanced Design Studio in Seoul, increasingly the source of small car work for … Continue reading

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UAW Defends Korean FTA as Other Unions Protest Deal

In a late Friday afternoon e-mail to its members and supporters, the United Auto Workers Union defended its endorsement of the revised and still controversial Korean FTA or so called Free Trade Agreement. The defense came after the heads of … Continue reading

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AFL-CIO Rejects Korean FTA. New Trade Policy Called For

The proposed Korean Free Trade Agreement (FTA) with the U.S. should be rejected by the Congress because its investment and government procurement provisions will encourage “offshoring,” according to AFL-CIO President Richard Trumka. His statement came after the Detroit Three auto companies … Continue reading

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Detroit Three Continue to Trail Import Brands on Customer Retention Rates. Conquest Rates Are Up Slightly

While customer retention rates among Detroit Three brands as a whole have improved slightly from 2009, domestic makers still trail import brands when an existing vehicle owner considers purchasing the same brand again. Continue reading

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Korean Free Trade Agreement gets UAW, Ford Support

Two of the biggest automotive opponents of the controversial Korean Free Trade Agreement – the Ford Motor Company and the UAW – have reversed their opposing positions following modifications late last week that keeps tariffs on Korean auto exports to the U.S. while eliminating them on U.S. automotive exports.
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