This time, we’re going to talk about Luxury Car Brands In South Korea. There is a lot of information about Top 5 South Korean Car Brands for 2018 on the internet, of course. Social media are getting better and better quickly, which makes it easier for us to learn new things.
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7 Unexpected Facts About Luxury Car Brands In South Korea | American Car Brands
- The current market capitalization of Hyundai is $34.2 billion and their sales revenue in the fiscal year of 2016 topped $77.81 billion. This company’s success allowed them to purchase Kia Motors and now owns over 33% of that company. Two form Hyundai Motor Group along with Hyundai’s luxury car brand Genesis. - Source: Internet
- Renault Samsung Motors (RSM) was originally established in 1994 under the name Samsung Motors before it became a subsidiary of Renault Motors in 2000. The French automaker bought a 70% stake for $560 million and after that acquisition, sales vastly improved. The company brought in almost $4.5 billion in revenue in 2015, with future luxury vehicles and electric models expected to boost their revenue and global presence. - Source: Internet
- SsangYong started out as two separate companies that eventually merged in 1963 to rebuild jeeps, trucks and buses to be shipped to the USA. The company was then bought out by SsangYong Business Group in 1986, who partnered with Daimler-Benz to build a luxury SUV that gave them a strong foothold in the global automotive market. In 2011, after some financial difficulties, Mahindra & Mahindra Ltd. acquired the company to help it reach the success it’s experiencing today. - Source: Internet
- To help your automotive business stay at the peak of the industry, BizVibe provides unbeatable support when sourcing products and making deals with top passenger car manufacturers in South Korea. The state of the automotive industry in South Korea is expected to stay promising for the foreseeable future so now is your time to act. Network with the South Korean car brands today. - Source: Internet
- Founded in 1944, this car company is the oldest in Korea and now produces over 3 million vehicles a year from its 14 manufacturing plants in 5 countries. Kia Motors would be #1 on this list of top Korean car brands if it wasn’t for the fact that Hyundai is its sister company and owns ⅓ (33.88%) of Kia Motor Corporation. This relationship developed in 1998 and has been beneficial to both South Korean car manufacturers. As sister companies, they work together but are separate brands with separate models. - Source: Internet
- Genesis became a standalone brand in 2015 to compete with the luxury car market in the United States. Manfred Fitzgerald is now the senior vice president and brings expertise from his former role as the director of brand and design at Lamborghini. There are big plans in the works including a luxury sedan, a sports coupe and two new SUVs planning to be introduced by 2020. One of the top Korean car models, the popular 2017 G90 retails starting at $84,000 — forcing tother South Korean car brands to adapt their strategy to compete. - Source: Internet
- It wasn’t easy to get to where GM Korea is today, truly a first for many South Korean car brands. GM had to buy out bankrupt Daewoo Motors in 2001 before they saw a turnaround in their success. Prior to that, the automaker’s vehicle development was poor and its sales volumes were insignificant. The first car produced under GM Daewoo, the 2002 Daewoo Lacetti, turned it all around. What was meant to replace Daewoo’s popular Nubira model not only did that successfully but also became a GM world car. - Source: Internet
Video | Luxury Car Brands In South Korea
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