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South Korean Carmakers See October Sales Slump Amid Holidays, Production Losses
 "South Korean Carmakers See October Sales Slump Amid Holidays, Production Losses")
Seoul: South Korea’s major automakers, including Hyundai Motor, Kia Corp., and GM Korea, on Monday reported a drop in their October sales as fewer working days during the Chuseok holiday and production disruptions weighed on output. Industry data released showed overall declines across leading carmakers, with only KG Mobility managing a modest gain on the back of stronger overseas demand.
Hyundai Motor Co., South Korea’s biggest carmaker, said its global sales in October dropped 6.9 per cent from a year earlier, weighed down by fewer working days at home due to last month’s Chuseok holiday.
Hyundai Motor sold 351,753 vehicles last month, down from 377,917 units a year earlier, the company said in a release.
Domestic sales slumped 17.1 per cent to 53,822 units, while overseas sales went down 4.8 per cent to 297,931, reports Yonhap news agency.
Kia Corp., South Korea’s second-largest automaker, said that its sales fell 0.5 per cent in October from a year earlier due to decreased domestic sales.
Kia, a smaller affiliate of local industry leader Hyundai Motor Co., sold 263,904 vehicles in October, down from 265,344 units in the same month of last year, the company said in a press release.
Domestic sales tumbled 13.1 per cent to 40,001 units from 46,025, while overseas sales rose 2.1 percent to 223,014 from 218,389 over the same period.
GM Korea Co., the South Korean unit of General Motors Co., said that its monthly sales declined 20.8 per cent in October from a year earlier amid recent production losses in connection with this year’s wage negotiations.
The company sold 39,630 vehicles last month, down from 50,021 units a year ago, GM Korea said in a release.
Domestic sales fell 39.5 per cent on-year to 1,194 units from 1,974, while exports dropped 20 per cent to 38,436 units from 48,047.
Renault Korea Motors, the South Korean unit of France’s Renault S.A., said that its sales fell 42 per cent in October from a year earlier due to weaker demand for its models.
The company sold 7,201 vehicles last month, down from 12,456 units a year earlier, it said in a press release.
Domestic sales dropped 40 per cent to 3,810 units from 6,395, while exports tumbled 44 per cent to 3,391 from 6,061 over the cited period.
Meanwhile, KG Mobility Corp. said its October sales edged up around 3 per cent from a year earlier thanks to a boost in overseas shipments.
The South Korean automaker sold 9,517 vehicles in October, up 2.9 per cent from the 9,245 units sold the same month last year, the company said in a release.
Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.
Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”
The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”
The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”
Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.
The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.
But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.
The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.
“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.
“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”
AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.
“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.
“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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