Honda to Exit South Korean Car Market by Year End, Will Retain Motorcycle and After-Sales Services

MT Newswires Live04-23 18:45

Honda (TYO:7267) will discontinue automobile sales operations of its South Korean subsidiary, Honda Korea, based in Seoul, at the end of the year, according to a statement on Thursday.

The decision came after reviewing shifts in both the global and local automotive markets, as Honda aims to refocus corporate resources on strengthening long-term competitiveness.

Even after ending car sales, the company will continue offering after-sales services in South Korea, including vehicle maintenance, parts supply, and warranty support for existing Honda car owners.

Meanwhile, Honda Korea will keep its motorcycle business as the core of its operations and plans to further enhance customer experiences and product offerings in that segment.

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