Over 60 per cent of South Korea's automotive exports throughout most of 2024 have been shipped to North America, industry data showed on Sunday, raising calls for companies to consider more balanced global export strategies.
Hyundai Motor, South Korea's biggest carmaker, said on Wednesday its sales fell 3.7 per cent last month from a year earlier on weak overseas demand.
Automaker Kia India on Tuesday said it registered sales of 66,553 units In the second quarter this fiscal (July-September period), marking almost 10 per cent growth over the April-June period this year.
Electric vehicle (EV) models produced by South Korea's Hyundai Motor and Kia have received top ratings in major global car crash safety tests, the automakers said on Sunday.
Hyundai and Kia's second-quarter operating income likely rose 1 per cent and 11 per cent, respectively, from the same period of last year, the survey showed.
Hyundai Motor, Kia and two other carmakers will recall over 7,700 vehicles due to faulty components, the transport ministry here said on Wednesday.
South Korea's top carmaker Hyundai Motor and its affiliate Kia said on Sunday that they have inked an agreement with China's tech giant Baidu to develop technologies for connected cars.
The combined market capitalisation of Hyundai Motor and Kia is widely expected to surpass the 100 trillion-won ($72.2 billion) mark this year, according to industry watchers.
The combined overseas production of Hyundai Motor and Kia, including in India, surpassed 3.68 million units in 2023
Hyundai launched its first EV model, the BlueOn, which was based on the i10 mini car, in the domestic market in July 2011.
