In view of challenging market conditions both at home and abroad, Hyundai Motor Group has announced that it ls setting a lower sales target for 2016 compared to the previous year, when it fell short of its forecast, Yonhap News Agency reports.
The automaker is aiming to sell 8.13 million units this year – Hyundai Motor has set a target of 5.01 million vehicles, while Kia Motors is expecting to shift around 3.12 million cars in 2016.
At an event marking the start of 2016, Hyundai Motor Group chairman Chung Mong-koo told employees at the event that the group sold around 8.01 million cars last year, short of the 8.2 million units it had projected for 2015.
He said that while Hyundai/Kia managed to sell more than eight million cars for the second straight year in 2015 despite “challenging” market situations, the slowing growth in China and other emerging markets, low crude oil prices and economic instability does not bode well for the Korean automaker, the world’s fifth-largest.
“The auto industry is facing a structural change due to intensifying competition among existing brands and vehicles getting more electronic,” Chung said, adding that it was important for the automaker to secure future competitiveness to overcome heightened market uncertainty.
Chung said that the group should place more emphasis on R&D while leading technological innovation in the industry as well as enhancing its brand image “significantly” through top-class quality and product competitiveness, the report added.
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I’m so proud of Hyundai Kia truly jaguh global with big volume multi million sales.
Yah, even they only fall short of target by less then 0.2 million (mind you, 8.01 million cars shipped in a year is still a great achievement), look at how humbly they grasp the reality, set a tangible strategy and work on it.
Unlike some syiok sendiri jaguh kampung, can’t even ship 0.1 million but self proclaimed theselves as “BMW of Asia”, “Global Car”, “Game changer” bla bla bla. Achievement tak dak, tapi buat bunyi bising banyak, ingat sendiri sama taraf dengan global player.
protong started around the same time but aim local market for CRONIES and now suffered not even 100K sales…
what a pity, and shows the AMBITION of those running the show since easy money..
take away those taxi’s, gov, GLCs, i think Protong probably wont crack 10K..
Hyundai started in 1950s, Proton started in 1980s. Mana ada sama, atau lu tak tau kila.
Hyundai Motors started in 1967 and helped Ford to manufacture the Cortina in 1968 for local sales in Korea.
Hyundai truly started in 1975 where they manufactured the first ever Korean car with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan’s Mitsubishi Motors.
Dam, my used car business will be badly affected if Hyundai new car sales slump
their fluidity 2.0 design fail to inspire the existing hyundai users.
Hyundai owners are only happy when the do the drive test.
Its all downhill for them from there.
The only climax they get is after I show them the Hilux and they book a sushi within 30 minutes after getting a cheque from me for their rotten cabbage
8.13mil owners with hailat face by the end of 2016, good business for used car dealers.