AUTOMOBILES

The Korea Automobile Importers & Distributors Association disclosed that the count of newly registered imported cars stood at 25,263 units in March, showing a 6 percent increase from 23,840 units recorded in the corresponding period last year.

According to reports from the Yonhap news agency, Kia will manufacture the K4 compact at its facility in Mexico and will distribute it to consumers in the United States and Canada in the latter half of the year. The spokesperson for the company specified this information.

The company's strategy involves a consistent stream of new offerings, including a focus on new energy vehicles (NEVs), with a projected launch frequency of every three to six months, commencing this festive season. Highlighting their commitment to innovation, JSW MG Motor aims to make a mark in the premium vehicle segment.

The passenger vehicle segment experienced a notable growth of 12 percent, reaching 330,107 units compared to 293,803 units in February 2023. Manish Raj Singhania, President of the Federation of Automobile Dealers Associations (FADA), attributed this surge to the strategic launch of new products and improved vehicle availability.

In 2023 alone, Hyundai and Kia sold 516,441 EVs, bringing their cumulative EV sales to 1.53 million units by the end of the year. Notably, eight out of 10 Hyundai and Kia EVs were sold overseas in 2023, indicating the global demand for their electric vehicles. Among the best-selling models were Hyundai's Kona Electric and IONIQ 5, as well as Kia's Niro and EV6.

The recall pertains to specific models, including the 2003-2004 Corolla, 2003-2004 Corolla Matrix, and the 2004-2005 RAV4 vehicles. Toyota emphasized the urgency of the airbag safety recall, highlighting that the age of these vehicles increases the likelihood of the airbag deploying with an increased risk of explosion, projecting sharp metal fragments that could result in severe injury or even fatalities, according to a statement released by the company.

Despite these accomplishments, Tesla anticipates a potential slowdown in the growth of vehicle sales in 2024.