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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Toyota sets tough China sales goal of 1.4 million vehicles for 2018

    Toyota sets tough China sales goal of 1.4 million vehicles for 2018

    Toyota Motor Corp (7203.T) aims to sell 1.4 million vehicles in China in 2018, nearly 9 percent more than it sold last year, but two insiders at the Japanese automaker said production constraints and other hurdles make it a tough target to meet.

    The sales goal announced by Japan’s biggest automaker on Friday comes at a time when the world’s biggest auto market is experiencing a slowdown in overall vehicle sales growth.

    The two people said the target is more a “stretch goal.” It is a target that is not the baseline sales forecast and one that executives acknowledge will be difficult to achieve, they said.

    A big factor that makes selling 1.4 million vehicles this year more of a challenge is Toyota’s manufacturing capacity which the two individuals said remains strained.

    “If we could resolve this capacity issue, it would be easy to make the 1.4 million target. With sufficient capacity, we can possibly sell 1.5 million vehicles,” one of the two people said.

    Toyota’s forecast for 2018 is relatively more upbeat than the previous few years in part because it expects to launch a couple of potentially high-volume subcompact sport-utility vehicles (SUVs) later this year, the people said.

    They said Toyota plans to launch two China-market versions of the subcompact Toyota CH-R crossover SUV in a June-July time frame. The CH-R hit showrooms in the United States in April last year.

    Those two CH-R variants are smallish crossover SUVs that others, most notably Japan’s Honda Motor Co (7267.T), have leveraged to grow sales significantly in China.

    A Toyota spokesman said that though the 2018 sales target was not one that can be easily achieved due to the highly competitive market environment, the recent launch of a redesigned Camry sedan and the planned introduction of two subcompact SUVs later this year would enable Toyota to challenge the previous year’s numbers.

    China’s overall vehicle market growth was the weakest last year in at least two decades, increasing just 3 percent year-on-year to 28.88 million vehicles, pegged back chiefly by a phasing out of tax breaks on smaller-engine cars that begun in 2017.

    According to data from the China Association of Automobile Manufacturers (CAAM), 2018 will another weak year. It predicts the country’s vehicle market will grow 3.5 percent in 2018.

    On Friday, Toyota said its sales in China in January rose 24.5 percent from a year earlier to 127,500 vehicles. Smaller rival Honda’s sales in China, meanwhile, rose 10.9 percent in January to 126,174 vehicles.

    Honda, which last year sold a total of 1.44 million vehicles in China, did not provide a forecast for volumes for this year.

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  • Vietnam’s auto imports in record drop in January

    Vietnam’s auto imports in record drop in January

    Some 1,000 cars worth US$94 million were imported to the Vietnamese market in January, reports the General Statistics Office.

    This marks a record drop of 86.2 per cent in volume and 38 per cent in value compared to the previous month.

    The drop comes after auto businesses, including Toyota Motors Vietnam and Honda, stopped importing autos due to the government’s Decree 116, which tightens control over quality, technical safety and environment protection of imported autos.

    Speaking at the government’s monthly press conference on February 2, minister and chairman of the Government Office Mai Tiến Dũng, said a number of embassies and organisations had sent letters to the Prime Minister proposing him to direct relevant ministries and sectors to reconsider the decree.

    Dũng said the Vietnam Automobile Manufacturers’ Association had submitted four letters of recommendation to the government to remove difficulties, saying that the provisions in the decree were inappropriate.

    Meanwhile, several associations, such as Japan Business Association in Việt Nam, and foreign direct investment joint ventures have repeatedly proposed the government to delay the implementation of Decree 116 by at least six months.

    Dũng said there were three major issues arising out of the decree troubling auto businesses and organisations.

    The first is that the importers must obtain a Vehicle Type Approval (VTA) certificate issued by authorities in the exporting country. Dũng explained that VTA was not a certificate of the State body but of authorised agencies or associations of the exporting countries, which aimed to ensure the origin, quality and value of the vehicle.

    Such authorised agencies and associations will also be responsible for recalling the vehicles if they have faults during the production process. This is to ensure the rights and interests of automakers and consumers alike, Dũng said.

    As for the second issue, Dũng said the decree states that the inspection agency will randomly select one unit of each batch to check. The check will be conducted on every batch of imported autos. This regulation will prove to be more costly and time-consuming in testing vehicles. And it is the customer who will have to incur the cost as businesses will ensure their profit.

    Dũng said the government was considering the issue.

    The third problem posed by Decree 116 is that it requires automakers to have a testing route of 800m, with minimum 400m straight, before rolling out the vehicles in the market. According to automakers, this condition will require them to pay more, including registration fee, cost of land and cost of building testing routes.

    Dũng said Prime Minister Nguyễn Xuân Phúc had assigned the Government Office and relevant ministries and sectors to consider the above-mentioned problems. The recommendations would not only ensure the government’s demand on domestic auto production but also the country’s implementation of international standards that Việt Nam was committed to, Dũng said.

    Decree 116’s regulations are being evaluated as a technical barrier for auto importers to overcome. Dũng, however, said all countries were applying necessary measures to ensure the quality of imported products as well as the rights and interests of consumers.

    Further explaining the issue, Dũng said a batch of BMW autos previously imported to Việt Nam was found with a lot of problems related to procedure and origin of the vehicles, in addition to the fact that they were used cars. “If we do not check them carefully, the consumers will be the most vulnerable,” he said.

     

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  • Hyundai hopes bigger, revamped Santa Fe SUV will reverse U.S. sales slump

    Hyundai hopes bigger, revamped Santa Fe SUV will reverse U.S. sales slump

    Hyundai Motor unveiled on Tuesday a re-designed Santa Fe, hoping the first makeover of the sport utility vehicle (SUV) in six years will help rectify a sales slowdown at the South Korean automaker, especially in the key U.S. market.

    The revamped version of its top-selling SUV in the United States and South Korea features a longer, more voluminous body than its predecessor while boasting advanced safety features such as warnings on approaching objects from the rear when a car stops.

    The two-row, five-seater SUV was unveiled to South Korean media at a “preview” event, before its official launch in February in the home market.

    While Hyundai did not disclose other details, a source said the model comes with a 2.0-liter and a 2.2-liter diesel engine, a more fuel-efficient eight-speed transmission and semi-autonomous driving features used in its Genesis premium sedans.

    “The new Santa Fe will be a bread and butter model for us this year,” the Hyundai insider said on condition of anonymity since he is not authorized to speak to the media.

    “We have high hopes for the model,” he said. Hyundai Motor declined to comment.

    Hyundai Motor reported last week its worst annual earnings in seven years, battered by its delayed response to the burgeoning SUV market and a diplomatic row with China.

    A firmer local currency also adds to the woes of the automaker, as it is eating into its profits repatriated from overseas and hurts the price competitiveness of its exports in the United States and other markets.

    “The mission of the Santa Fe is to recover Hyundai’s U.S. market share. It carries a big burden on its shoulder,” said Ko Tae-bong, a senior auto analyst at Hi Investment & Securities. The U.S. sales of the aging Santa Fe slumped 25 percent last year even as U.S. industry SUV and truck sales rose 4 percent.

    The model, expected in the U.S. market in the third quarter of this year, will be also “key to recovering the utilization rate of Hyundai’s factory in Alabama”, Ko said.

    Hyundai’s U.S. sales fell 12 percent last year, making it the worst performer among automakers in that market, hit by the conservative design of the Sonata and the Elantra sedans and an absence of a broadbased SUV line-up.

    Hyundai, which has three SUV models – Kona, Tucson and Santa Fe – has said it would diversify its SUV line-up by launching a mini-SUV and a large SUV.

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  • Malaysian Automotive Association bullish on NAP 2018

    Malaysian Automotive Association bullish on NAP 2018

    The Malaysian Automotive Association (MAA) is hoping that the review of the National Automotive Policy (NAP), which will be announced by the government in mid-2018, will improve the automotive industry and help boost vehicle sales.

    MAA president Datuk Aishah Ahmad said the government has not engaged with MAA on the review of the NAP and that the details of the NAP 2018 have not been discussed with the industry.

    “It’s just preliminary announcement that there are some changes in the NAP and we hope whatever announcements they make will be good for the industry and will boost industry sales and assist the industry for us to expand sales and make more money,” she told a press conference on the automotive market review for 2017 and outlook for 2018 today.

    Last week, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said NAP 2018 is still a work-in-progress, with consultations to continue for another four to five months. NAP 2018 will focus on mobility, next-generation vehicles, big data, lifestyle and connectivity.

    With NAP 2018 also focusing on parts and components, Aishah concurred that this is a growth area based on industry figures.

    She said NAP 2014 has helped reduce the prices of energy-efficient vehicles (EEV) slightly as EEV producers enjoyed incentives on local components.

    Meanwhile she said the strengthening ringgit will help industry players, especially those who trade in US dollars and Japanese yen, as they will have better margins.

    MAA is projecting a total industry volume (TIV) of 590,000 units in 2018, a 2.3% growth from 2017. This takes into account of factors like economic growth, rising cost of doing business, rising cost of living, continuation of the strict lending guidelines and ride-hailing services.

    The TIV of new motor vehicles registered in 2017 declined marginally by 0.6% to 576,635 units in 2017 from 580,085 units in 2016.

    Aishah said the local automotive market was subdued for much of last year.

    For the second consecutive year, the TIV contracted, reflecting perhaps a down-cycle of the market that started in 2016.

    “Despite our country’s economic recovery and the aggressive promotional campaigns undertaken by MAA members, sales remained essentially flat in 2017. This can be attributed to the inflationary pressures affecting consumers’ disposable income, which consequently resulted in cautious consumer spending,” said Aishah.

  • Honda Malaysia retains number one spot for non-national brands

    Honda Malaysia retains number one spot for non-national brands

    Honda Malaysia retained its number one spot for non-national brands for the third consecutive year, managing to sell 19% more cars or 109,511 units in 2017, the highest in its history.

    Honda Malaysia also sold the second largest number of cars in total industry volume in 2017, for the second consecutive year, it said in a statement today.

    Since 2003 and in the span of 14 years, Honda Malaysia has sold more than 730,000 units of vehicles.

    The company managed to capture a 19% market share, the highest ever achieved in Honda Malaysia history, with six new model launches, namely BR-V, City, Jazz and Jazz Hybrid, City Hybrid, CR-V and All-New Civic Type R.

    The City emerged as Honda’s best-selling model in 2017, contributing 27% of total sales, followed by HR-V at 17%, BR-V at 16% and Civic at 14% respectively.

    In the Hybrid segment, the Jazz Hybrid and City Hybrid contributed 2% to the total sales of Honda Malaysia despite being on sale for only 4 months. The two models are leading the overall Hybrid segment.

    Throughout 2017, Honda Malaysia expanded its presence and penetration in Sabah and Sarawak, which contributed more than 7,500 units to the total sales achieved. Sales for East Malaysia in 2017 increased by 33% compared to 2016. BR-V was the best-selling model in Sabah and Sarawak.

    Not losing sight of its after sales service segment, Honda Malaysia introduced Honda Pride with 12 specially designed benefits such as five years warranty with unlimited mileage, genuine parts and comfortable dealer showroom.

    In terms of service intake, Honda Malaysia recorded more than 1.15 million vehicles serviced in 2017, up 13% from the 1.0 million vehicles serviced in 2016.

    Managing director and CEO Toichi Ishiyama said, “Reflectively, we are pleased to note that with the maturing Malaysian market, customers responded well to the various Next Generation Advanced Technologies we introduced such as Honda SENSING, Turbo and Sport Hybrid i-DCD. The Sport Hybrid i-DCD made history during their introductions, as Malaysia is the only country outside of Japan to introduce the technology. It was also the most affordable Hybrid to be introduced in the market. Honda was also the first brand to introduce the SENSING technology into mass models such as the CR-V and New Accord.”

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  • Daimler Trucks on track to record sales of 465,000 units in 2017

    Daimler Trucks on track to record sales of 465,000 units in 2017

    Daimler Trucks has increased its worldwide deliveries in the first 11 months of 2017 by 12 percent year on year to 422,500 units, despite the continuation of disparate market conditions. Until the end of November, more trucks were delivered than in the whole of last year. In full-year 2016, the Daimler truck division sold approximately 415,100 vehicles of the Mercedes-Benz, Fuso, Freightliner, Western Star, Thomas Built Buses and BharatBenz brands worldwide.

    On the basis of initial December data, Daimler Trucks assumes that it will end the full year with unit sales in the magnitude of 465,000 vehicles (2016: 415,100). The final sales figures will be available at Daimler’s annual press conference on February 1, 2018.

    “For full-year 2017, we at Daimler Trucks anticipate unit sales in the magnitude of 465,000 trucks – significantly more than in the previous year and significantly more than we expected at the beginning of the year. This is only possible with leading products and an excellent international team – especially with an ongoing situation of weak tailwinds from our markets. I thank all our employees for their outstanding efforts,” stated Martin Daum, Member of the Board of Management of Daimler AG, responsible for Trucks & Buses. “In everything that we do, our focus is on our customers. In order to offer them the best products and solutions, we work continuously on innovations. We used the year 2017 to work hard on efficient, electric, automated and connected trucks.”

    North America key growth driver
    The significant growth in unit sales achieved by Daimler Trucks was driven by the positive sales development in the NAFTA region, especially in the second half of the year. Sales rose by 12 percent to 150,600 units (2016: 134,200).

    With a market share of 39.2 percent in weight classes 6 to 8 (2016: 40.0 percent), Daimler Trucks says it continued to be the undisputed market leader for medium- and heavy-duty trucks in North America by a clear margin. A key growth driver in the North American market is the new Freightliner Cascadia, which has been produced since early 2017 with an integrated Detroit powertrain and sets standards in terms of fuel efficiency, safety and connectivity. Also in the fourth quarter, Daimler Trucks recorded a significantly higher number of orders received in the NAFTA region than in the prior-year period.

    Uptick in Europe and Latin America – growth in Brazil again
    Daimler Trucks increased its sales also in the EU30 region (European Union, Switzerland and Norway) by three percent to 73,600 units in the months of January through November (2016: 71,100). Mercedes-Benz maintained its market leadership in the segment of medium- and heavy-duty trucks with 21.0 percent (2016: 20.7 percent). Mercedes-Benz is the best-selling brand also in Germany, with a market share of 36.6 percent (2016: 37.2 percent) and deliveries of 28,000 vehicles (2016: 27,600).

    Since March 2017, Mercedes-Benz trucks feature the new Truck Data Center. This standardised connectivity module is fitted across the Daimler Trucks brands: in the Mercedes-Benz Actros, Arocs, Antos and Atego as well as in the new Freightliner Cascadia and the new Fuso SuperGreat. The Truck Data Center forms the basis for existing connectivity solutions from Daimler Trucks such as the telematics systems of Fleetboard, Truckonnect and Detroit Connect. However, it also allows new digital services such as the Mercedes-Benz Uptime service product. This intelligent linking up of trucks, Mercedes-Benz Service and customers can reduce off-road times.

     

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  • EMart’s M-Lounge to sell electric mini-vehicles

    EMart’s M-Lounge to sell electric mini-vehicles

    South Korea’s discount store E-Mart, a unit of retail conglomerate Shinsegae Group, has started selling electric mini-vehicles.

    E-Mart says it has expanded its M Lounge network to seven shops across Korea to sell electric bicycles and EVs.

    Introduced at its Yeongdeungpo store last March to introduce its e-mobility lineup, M Lounge now sells E-Mart’s private-brand e-bike Pedelec and other brands such as Mando Footloose and Maskali, as well as Air Wheel (electric wheel) and iBoat (electric kickboard). It has also started taking orders for the Zhi Dou two-seater electric car from China, which can run up to 150㎞ on a single charge.

    Cleared by regulatory authorities last month, the vehicle is expected to be priced at KW13 to 14 million (US$13,000).

    E-Mart aims to install M Lounge at up to 20 key stores across the country.

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  • Nissan’s ePower tech coming to U.S. vehicle

    Nissan’s ePower tech coming to U.S. vehicle

    Startled by enthusiastic consumer demand for ePower in Japan last year, Nissan Motor Co. now plans to introduce the electric motor-powered technology to its vehicles in the U.S.

    But unlike its Japanese application in the humble subcompact Note, Nissan will more likely use ePower here as an option on higher-end vehicles, said Philippe Klein, the automaker’s chief planning officer said last week.

    Klein did not say which Nissan brand products might receive ePower but suggested it will begin with higher-priced nameplates that can absorb the added cost of the powertrain.

    Meanwhile, Klein’s boss, Nissan CEO Hiroto Saikawa said that Infiniti will begin offering ePower in the near future. Saikawa said ePower will play a key role in Infiniti’s move to almost completely electrify its lineup starting in 2021.

    The technology, essentially a range extender, appears on the Note in Japan.

    Saikawa said that every Infiniti that appears in or after 2021 will either be a full electric vehicle or have an ePower powertrain.

    The technology reached the market in Japan as a powertrain option on the Note in late 2016. But in 2017, its first full year of availability, it had a 65 percent take rate on the car, Klein said.

    “Our strategy is to expand to other vehicles and to other markets,” Klein said. “It’s not only for small vehicles. We’re going to go to bigger vehicles.”

    The system is essentially a range extender in which an electric motor propels the vehicle at all times. A battery provides the power for the motor. A gasoline engine is used to charge the battery when necessary.

    The system delivers a fuel economy rating of about 77 mpg under Japan’s testing protocol, which is not comparable to U.S. testing methods.

    But Klein said fuel economy is only half the attraction to consumers. A second appeal is the powertrain’s exhilarating acceleration, he said, which is something that will appeal to buyers of any vehicle.

    “One part of it is the rational — lower gas costs. The other issue is emotional,” he said. “The driving experience is very close to that of an electric vehicle. Contrary to a conventional hybrid, you have the smooth acceleration of an electric vehicle.”

    Klein said that ePower has helped Nissan increase the revenue generated by the Note, and also has allowed Nissan to reposition the Note in Japan as a more upscale model.

    He added that Nissan believes the technology also provides an alternative to diesel powertrains in Europe.

    The company is considering offering ePower there as regulations make it harder to sell diesel vehicles.

    Its immediate benefit as a new source of fuel economy is not so clear for the U.S. market, he said. “But the benefits of being emotional and fun to drive might apply in the U.S. for some categories of vehicles,” he said. “So it’s part of the strategy.”

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  • Perodua aims for 2% growth in car sales this year

    Perodua aims for 2% growth in car sales this year

    Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is targeting for the sale of 209,000 vehicles this year, which is a 2% jump from the 204,900 units sold in 2017.

    Speaking to reporters at the 2017 full year review briefing, Perodua’s president and CEO Datuk Dr Aminar Rashid Salleh said, this year the car maker is focusing on maximising the sales potential of all its models to meet its target.

    Production of vehicles is also expected to be ramped up to 215,334 units compared to the 200,146 vehicles produced last year.

    Aminar said that due to unfavourable foreign exchange conditions the company may focus more on the exports of parts and accessories instead of complete built-ups.

    Perodua currently exports to countries such as Indonesia, Mauritius, Sri Lanka and Fiji.

     

  • Vietnam car market slump continues

    Vietnam car market slump continues

    Việt Nam spent more than US$2.15 billion importing 94,000 cars last year, marking a year-on-year decrease of 16.8 per cent in volume and 9.6 per cent in value.

    This was revealed by the General Statistics Office.

    The domestic automobile market witnessed many uncertainties last year. Notably, in the first half of the year, after the tax rate of complete built-up units (CBUs) import from ASEAN countries dropped to 30 per cent, the auto import turnover remained constantly high. However, in the second half of the year, the import turnover fell to low levels in both quantity and value.

    The uncertainty of CBUs auto import turnover in 2017 clearly reflects the evolution of the market.

    The decline in turnover shows a paradox. The car import market in 2017 benefited from the import tax of Southeast Asian-origin vehicles down by 10 per cent (to 30 per cent) and car import tax from countries enjoying the status of the Most Favoured Nation decreased by five per cent. With such a decrease, the auto import turnover should have accelerated; however, the figures remarkably reduced.

    Meanwhile, the tax rate of CBUs imported from ASEAN countries has officially reduced to zero per cent from January 1. But the market is yet to recover.

    According to Nikkei Asian Review, Toyota said on Tuesday that it has halted all production for export to the Vietnamese market. The Japanese automaker manufactures locally in Việt Nam, but imports from Thailand, Indonesia and Japan account for some one-fifth of what it sells in the market, or 1,000 units every month. Models imported include the Hilux pickup trucks, Yaris subcompacts, sports utility vehicle Fortuner and luxury car Lexus.

    “The Vietnamese market slowed down last year clearly because consumers refrained from buying as they waited for the tariff removal at the end of 2017,” Toyota Motors Thailand President Michinobu Sugata told reporters in Bangkok.

    Indeed, auto sales in Việt Nam between January and November last year slumped 10 per cent to 245,000 units. “We were anticipating a big jump in 2018, but due to the non-tariff barriers set by the Vietnamese government we cannot export to the market at all,” he said.

    Announced in October, Decree 116 requires emission and safety tests to be conducted on every batch of automobile to be imported. In the past, only the first shipment of each model would be tested. One emission test could take two months and cost up to $10,000, according to a statement of the Japanese Chamber of Commerce and Industry in Việt Nam.

    The decree also requires all models to obtain a Vehicle Type Approval certification issued by authorities of the exporting country. VTA certifications are to show that the vehicle meets standards of the country it will be sold in and is normally issued by domestic entities of the exporting country.

    Since the decree was announced, major exporters from Japan, Thailand and the United States have expressed concerns that it would become impossible for them to sell in Việt Nam.

    Phạm Anh Tuấn, head of the Vietnam Automobile Manufacturers’ Association (VAMA)’s Policy Subcommittee, told Việt Nam News that car manufacturers had not imported cars since January 1. The Vietnamese automobile market currently had only a few vehicles that were imported by the end of 2017, he said.

    For Toyota Motor Việt Nam, the latest import was towards the end of October last year.

    Tuấn also said VAMA had sent a letter of petition four times to the government regarding the content related to Decree 116.

    “VAMA would like the Government to delay the enforcement of the regulations on the import of cars in Decree 116 for six months to help its members prepare well in time. In addition to this, VAMA also proposed to revise the regulation that requires auto importers to submit Vehicle Type Approval certification of automakers as well as changing the requirements for conducting tests on each batch of imported cars,” said Tuấn.

     

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  • Samsung Galaxy A8 Series Launched in Malaysia, Retails From RM1799

    Samsung Galaxy A8 Series Launched in Malaysia, Retails From RM1799

    Samsung has officially announced the arrival of the new Galaxy A8 (2018) in Malaysia. The Galaxy A8 (2018) and Galaxy A8+ (2018) are the company’s new mid-range offerings, featuring IP68-rated bodies and a new dual front camera setup, and will retail from RM1799.

    While they may be positioned as mid-range devices, Samsung has actually trickled down quite a number of flagship features to the new Galaxy A8 (2018) devices. In fact, the two phones even feature a dual-camera setup at the front, allowing for Live Focus for selfies – something the flagship Galaxy S8 and Note 8 devices do not offer.

    The Galaxy A8 also feature the Infinity Display with slim bezels: the A8 sports a 5.6-inch 18.5:9 Super AMOLED display, while the A8+ features a larger 6-inch panel; both phones boast Full HD+ 2220 x 1080 resolutions.

    The dual front camera, on the other hand, are made up of 16MP + 8MP sensors. The front cameras feature Live Focus, which simulates a shallow depth of field in your selfie shots. The rear camera, on the other hand, is a 16MP f/1.7 shooter with phase detection autofocus.

    Rounding out the specifications of the Galaxy A8 and A8+ are an unspecified Exynos octa-core processor paired with 4GB (A8) or 6GB (A8+) of RAM, 32GB (A8) or 64GB (A8+) of expandable storage, IP68 water and dust resistance, a 3,000mAh battery (3,500mAh on the Galaxy A8+), and Android 7.1.1 Nougat out of the box.

    The two phones run Android 7.1.1 out of the box, and feature a fingerprint scanner USB Type C fast charging, Bixby, and the Dual Messenger feature.

    The Samsung Galaxy A8 (2018) and Galaxy A8+ (2018) will be available in three colours (Black, Gold, and Orchid Grey) and will retail for RM1799 and RM2499 respectively. They will go on sale nationwide from 19 January onwards, and there will also be an early bird promo from 19-21 January, where those who buy the Galaxy A8 phones will receive a free 64GB Samsung Evo Plus microSD card and a 10000mAh power bank with Type C connector.

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  • Apple’s first South Korean store set to open in Seoul on Jan. 27

    Apple’s first South Korean store set to open in Seoul on Jan. 27

    The first official Apple Store Korea will open later this month.

    Apple Korea announced today that its first fully-fledged retail shop in South Korea will open on January 27, on Garosugil in the affluent southern district of Gangnam in Seoul.Apple said on its website that the store will trade seven days a week from 10am to 10pm.

    Consumers will be able to try out iPhones, Apple Watches, iPads, MacBooks and other Apple products, visit the Genius Grove for repairs, and attend training sessions on the use of Apple gadgets at the store.

    Apple said it has been working with mobile carriers, including SK Telecom, KT and LG Uplus so users can register and set up their mobile phones at the store.

    Apple began replacing iPhone batteries early this month as hundreds of thousands of South Korean iPhone users filed a suit over allegations the tech giant intentionally slowed down older iPhones to push users to buy new models.

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  • Nissan’s Infiniti vehicles to go electric

    Nissan’s Infiniti vehicles to go electric

    Japanese carmaker Nissan Motor Co. plans to transform its upscale Infiniti brand of vehicles into a primarily electrified offering, Chief Executive Hiroto Saikawa said on Tuesday.

    All new Infiniti models launched from 2021 will be either electric or so-called “e-Power” hybrids, Saikawa told the Automotive News World Congress in Detroit.

    The announcement revives plans for a luxury electric offering that Nissan first touted with a 2012 Infiniti show car, but later scrapped over profitability concerns. That left the road clear for Tesla’s (TSLA.O) Model S, introduced the same year.

    “We are going to make Infiniti the premium and highly electrified brand,” Saikawa said on Tuesday.

    Nissan and alliance partner Renault (RENA.PA) took an early lead in battery-powered cars with models such as the 2011 Leaf, still the world’s top-selling electric vehicle.

    However, Tesla has hogged the limelight in recent years, while German carmakers are leading a $90 billion wave of investment in electric and plug-in hybrid cars.

    Nissan dropped the earlier electric Infiniti program in mid-2014 over concerns it would threaten the financial goals in its “Power 88” mid-term plan, according to people involved in those discussions. The company ended up missing its 8 percent margin target anyway, in fiscal 2017.

    Nissan is one of a number of Japanese carmakers seeking to jump-start a higher-end brand. Toyota (7203.T) is launching a revamped Lexus LS flagship, while Honda (7267.T) has been redesigning its Acura line in the hope of boosting sales.

    In the United States, Infiniti’s sales rose 11.3 percent last year in a light vehicle market that was down 1.5 percent overall, while Acura deliveries fell by 3.9 percent and Lexus by 7.6 percent.

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  • GM sees flat 2018 earnings, with pickups picking up in 2019

    GM sees flat 2018 earnings, with pickups picking up in 2019

    General Motors Co shares rose on Tuesday after the company said 2018 earnings will be largely flat compared with 2017 and forecast higher profits in 2019 when its revamped line of high-margin pickup trucks hits the U.S. market.

    The 2018 earnings outlook was above market expectations, sending GM shares up about 2 percent in midday trading.

    GM forecast 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50. The company expects earnings for 2018 to be roughly the same as in 2017. Analysts have predicted full-year 2017 earnings per share of $6.30, and $5.98 a share in 2018.

    “If the guidance is as positive as we interpret it, this could be the positive catalyst that we expected, and sets up a solid ’18,” Barclays analyst Brian Johnson wrote in a client note.

    The company and its Detroit rivals, Ford Motor Co and Fiat Chrysler Automobiles NV, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers.

    President Dan Ammann said GM’s new line of pickups should generate improved profit from increased production of higher-priced, four-door crew cab trucks, and expanded sales of luxury truck models.

    GM said in a presentation on Tuesday its Denali line of luxury pickups has average transaction prices of about $55,600, higher than the average for Daimler AG’s (DAIGn.DE) Mercedes-Benz brand, or GM’s own Cadillac luxury brand.

    Chief Executive Mary Barra said during a meeting with reporters the automaker will boost investment in electric vehicles, but declined to say by how much. Rival automakers have used the Detroit auto show to tout multi-billion dollar investments in electrification.

    GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward self-driving car technology. In future years, Chief Financial Officer Chuck Stevens said total capital spending should decrease.

    Last week, the company said it was seeking U.S. government approval for a fully autonomous car – one without a steering wheel, brake pedal or accelerator pedal – to join GM’s first commercial ride-sharing fleet in 2019.

    Barra also said GM will not follow other companies that have given employees special bonuses tied to tax cuts by the administration of U.S. President Donald Trump, which slashed the top U.S. corporate tax rate.

    Instead, Barra said if GM has higher profits because of lower U.S. taxes, GM employees, including union-represented U.S. factory workers, should see larger bonuses or profit-sharing checks based on existing pay formulas.

    In a client note, Buckingham Research Group analyst Joseph Amaturo wrote that GM’s 2018 earnings outlook includes a “lower statutory corporate tax rate, so on an apples-to-apples basis, this appears to be an effective EPS guide down.”

    “We believe the stock will fade after investors understand that the implied EPS guide is for a year-on-year decline, as we and consensus are forecasting,” Amaturo wrote.

    GM faces challenges in 2018 from the costs of launching the new large pickup trucks, rising interest rates in the United States and a likely decline in overall U.S. vehicle sales, Stevens said.

    However, Stevens said wage growth could offset the impact of higher interest rates for consumers buying vehicles.

    Barra, Ammann and Stevens declined to say when investments in self-driving vehicle services and electrification will return profits. They pointed to the potential for new trucks and SUVs, a new, low-cost car for international markets, and the Cadillac luxury brand, to improve future earnings.

    Cadillac profits should double from current levels by 2021, GM said, riding growing sales in China and new products planned for the United States to replace a current crop of slow-selling sedans. Stevens did not disclose current profit figures for Cadillac.

    GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to build up to 60,000 vehicles and avoid missing sales.

    The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets that will lose their value because of the lower U.S. corporate tax rate.

    GM shares rose 2.2 percent to $45.04 in noon trading.reu

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  • Hyundai Motor and Aurora Partner to Develop Level 4 Autonomous Vehicles by 2021

    Hyundai Motor and Aurora Partner to Develop Level 4 Autonomous Vehicles by 2021

    Last week, Hyundai Motor Company and Aurora, a leader in autonomous vehicle technology, announced a strategic partnership to bring self-driving Hyundai vehicles to market by 2021. This partnership will incorporate Aurora’s self-driving technology into Hyundai vehicles starting with models custom-developed and launched in test programs and pilot cities. Over the longer term, Hyundai and Aurora will work to commercialize self-driving vehicles worldwide.

    To start, the partnership will focus on the ongoing development of hardware and software for automated and autonomous driving and the back-end data services required for Level 4 automation. Level 4 autonomous vehicles defined by SAE can operate without human input or oversight under select conditions. The goal of the partnership is to deploy autonomous driving quickly, broadly and safely.

    “We know the future of transportation is autonomous, and autonomous driving technology needs to be proven in the real-world to accelerate deployment in a safe and scalable manner,” said Dr. Woong Chul Yang, Vice Chairman of Hyundai Motor. “Combining our advanced vehicle technology that embeds the latest safety features with Aurora’s leading suite of Level 4 autonomous technology will advance this revolution in mobility with Hyundai in a leadership position.”

    Hyundai and Aurora share the common vision of improving safety and mobility on the world’s roads, and together bring the skills and experience required to successfully introduce this technology at scale. For nearly 50 years, Hyundai has been a leader in vehicle design, safety and manufacturing, catapulting the company to become one of the world’s largest vehicle manufacturers together with its Kia Motors Corporation affiliate.

    For the last two decades, Aurora’s founders have spearheaded the self-driving revolution, building teams and pioneering modern machine learning techniques now on the cusp of transforming transportation. Together, Hyundai and Aurora will move quickly to bring self-driving technology to market around the world.

    “Aurora is excited to partner with Hyundai Motor to make the social benefits of self-driving available globally,” said Dr. Chris Urmson, CEO of Aurora. “This partnership combines Hyundai’s strengths in vehicle design, safety and manufacturing with Aurora’s expertise in self-driving technologies to make a positive difference in the world.”

    Hyundai Motor’s partnership with Aurora is part of the company’s ongoing efforts towards realizing fully autonomous driving. Hyundai first began testing autonomous vehicles on public roads of the USA in 2015, having been granted a license by the state of Nevada. Last year at the 2017 CES, Hyundai advanced its trials in urban environments, demonstrating self-driving technologies to the public with its autonomous IONIQ models.

    Hyundai’s latest new-generation fuel-cell vehicle, which will make its official global debut at CES 2018 next week, will become the first model to be utilized in the test processes starting this year. The fuel-cell powertrain will offer an ideal platform to implement autonomous driving technologies, which requires a massive amount of power to support the large amount of data communication as well as the operation of hardware such as sensors. Hydrogen-powered fuel cell vehicle will be able to provide a stable electric power supply without concerns about driving range.

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