Hyundai may not maintain its EV sales momentum if it can no longer qualify for U.S. tax credits under the Biden Administration’s Inflation Reduction Act.
South Korea wants a three-year grace period on the U.S. Inflation Act to enable Korean automakers to keep receiving U.S. electric vehicle (EV) incentives.
Honda points to continued supply issues as overall industry inventory improves.
Hyundai Motor Co. will focus on luxury models, SUVs and electric vehicles (EVs) to achieve record-high earnings in 2022.
Korean carmakers say old recalls still affecting profits.
Alabama supplier to Hyundai, Kia paid over $30,000 in penalties after investigation found teens as young as 13 working at plant.
The president reaffirmed his understanding and willingness to cooperate with South Korea’s concerns.
GM surges, peers also gain, though some see declines amid market pressures.
IIHS found U.S. theft claims were nearly twice as common for Hyundai Motor and Kia Corp. than other manufacturers vehicles for the 2015 through 2019 model years.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
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