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Hyundai, Kia Implements New Sales Strategy for China

Makers launching low-cost sport-utes.

by on May.13, 2016

Hyundai hopes to take advantage of the demand for utility vehicles in the Chinese market.

Hyundai Motor and affiliate Kia Motors plan to launch three low-cost sport utility vehicles in China next year, according to reports from Asia, trying to take advantage of the country’s current thirst for SUVs and MPVs.

Like General Motors and Volkswagen, China has become the largest market for Korean car companies. Making cheaper models specifically designed for the Chinese market will represent a shift in strategy for the South Korean, who have generally relied on older models to satisfy the demands of consumers in China.

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However, the Chinese market is evolving rapidly and both American and European carmakers have brought new technology to vehicles to separate themselves from their competition. China’s own carmakers have become increasingly sophisticated meaning that their Korean counterparts need to follow that trend. (more…)

Hyundai Defies Euro Downturn; Pushes Up Profits

Strong demand from buyers on a budget helps deliver big surge in earnings.

by on Jul.26, 2012

The Hyundai i30 helped the Korean maker counter the overall downturn of the European car market.

You’d have a hard time telling there are any problems in Europe if you’re only looking at Hyundai’s sales numbers.  Despite the Continent’s economic crisis and the sharp downturn in overall sales, demand for the Korean makers products jumped during the second quarter – driving a 10% increase in the maker’s overall earnings.

Hyundai is one of the few brands that has proven relatively immune to the European crisis that has nations like Greece and Spain on life support while even Germany’s auto market is feeling the economic pinch.  The Korean carmaker appears to be benefiting from its reputation for bargain pricing even as it launches a wave of well-received new products, such as the i40 sedan and ix35 crossover.

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Hyundai’s strong performance comes in sharp contrast to most of the rest of the industry. Ford reported a 57% downturn in Q2 profits, largely the result of European losses, while General Motors is expected to post a major loss in Europe next week. Volkswagen saw earnings rise for the quarter, but largely due to foreign sales with senior executives admitting the situation on the Continent is worsening.


Hyundai, Kia Expect Slower Growth in 2012

But sales still likely to top 7 million, says top exec.

by on Jan.04, 2012

Despite strong demand for products like the Elantra, Hyundai expects its growth to slow in 2012.

It’s been a whirlwind for Korean carmakers, Hyundai and Kia both posting double-digit global growth in 2011 as they’ve landed one successful new product after another.  But senior company officials warn that the Korean powerhouse likely can’t keep that torrid pace going in 2012.

It’s not that the days of sales growth are over, but Hyundai Group Chairman Chung Moon-koo says the maker has to focus on other things – like quality – rather than growth alone.

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“We will strengthen quality management we have continuously pursued,” the 73-year-old executive declared during a New Year’s speech to Hyundai/Kia employees.

Nonetheless, Hyundai and sibling Kia don’t expect to just tread water in 2012.  Chung expects to record a 6% increase for the company, now the world’s fifth-largest automaker, which would push its global volume to 7 million.