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Hyundai Reveals $74 Billion Investment Plan

Annual spending will exceed previous record by 35%.

by on Jan.07, 2015

Hyundai Motor Group is going to invest about $74 billion into the company during the next four years.

In an effort to expand its line-up and add much-needed production capacity, Hyundai Motor Group plans to invest almost $74 billion over the next four years.

The move was announced barely a week after Chung Moon-koo, the chairman of the group that controls both Hyundai and Seoul-based affiliate Kia, forecast the group will see its slowest growth in a decade as it deals with increased competition and a weaker global economy. Hyundai officials have also said that once-booming growth has been restricted by limited production capacity in key markets including North America.

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At 81 trillion Korean won, the spending plan by the world’s fifth-largest automaker works out to a 35% annual increase for each of the four years compared with 2014’s previous record investment level of 14.9 trillion won. (more…)

Hyundai Chief Sees Slowdown in Sales Growth

Capacity can’t keep up with demand, so maker shifts goals.

by on Jan.18, 2012

Hyundai Motor America CEO John Krafcik.

It was a good year for Hyundai – perhaps too good.

The Korean carmaker, long known for providing cheap and cheerful econoboxes, scored a solid hit with its must upscale model ever, the premium-Luxury Equus.  It landed its second win with a coveted North American Car of the Year trophy for the compact Hyundai Elantra sedan.  And it saw sales surge to another record.

The numbers would have gone even higher, contends John Krafcik, CEO of Hyundai Motor America, if the maker had enough capacity.  “Even in the worst days after the earthquake and tsunami hit Japan, our inventories have been shorter than either Toyota or Honda,” he said during a conversation with

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The Korean carmaker is actively looking for ways to boost production at its Alabama assembly plant, as well as at a factory run by its sibling Kia providing some additional product for Hyundai dealers.  But barring a sudden slowdown in sales, Krafcik believes Hyundai can’t come near to meeting potential U.S. demand in 2012.


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.