Hyundai Motors to recover sales in US and China, SUVㆍgreen car line up to expand
[ Choi Yong Soon cys@ ] | 2017-10-27 11:15:51
Hyundai Motor plans to increase sales of sports utility vehicles (SUVs) and eco-friendly cars to recover sales in the US and China.
Hyundai stated on its announcement of its third earnings on October 26 that it will intensify its efforts to reach US and Chinese markets with the launch of eco-friendly cars such as SUVs and electric vehicles.
First, the US market is expected to launch a new Santa Fe, Kona electric vehicle and next-generation hydrogen car next year with the launch of a small SUV `Kona` at the end of the year. In addition, the Genesis G70 is injected into the luxury car market. In addition, as inventories increase due to a decrease in sales of passenger cars in the quarter, the company plans to reduce inventory through flexible production.
In the face of the THAAD retaliation, the direct tactics are more aggressive in China. Four types of SUVs will be increased to 7 types by 2020. He also runs a special edition model of popular models such as Tucson to expand the local customer base. We will also expand the eco-friendly car line. We plan to launch various electric cars and plug-in hybrid cars (PHEV) in the future, starting with the EV on the first electric car launched in August.
Besides, the company will concentrate its efforts on developing Chinese-specific designs and expand its research staff to strengthen its localization strategy.
A Hyundai Motor representative said, "We will make a number of EVs and PHEVs on electric cars in China, which will lead to the production of new energy car duties." In response to the diversification of demand for SUVs in the mid to long term, "He said. Regarding the US, he said, "Although sales conditions will not increase in the future, we will overcome sluggish sales by strengthening new car and SUV lineups and introducing new assurance programs."
On the other hand, Hyundai Motor posted a better-than-expected the third quarter operating profit of 12% YoY, boosted by strong domestic and emerging market sales. Sales in the third quarter were KRW 24 trillion in 2013, and operating profit was KRW 104 billion compared with the same period last year, sales grew 9.6% and operating profit increased 12.7%.
By Choi Yong Soon cys@
[ copyright ⓒ The Digitaltimes ]
Hyundai stated on its announcement of its third earnings on October 26 that it will intensify its efforts to reach US and Chinese markets with the launch of eco-friendly cars such as SUVs and electric vehicles.
First, the US market is expected to launch a new Santa Fe, Kona electric vehicle and next-generation hydrogen car next year with the launch of a small SUV `Kona` at the end of the year. In addition, the Genesis G70 is injected into the luxury car market. In addition, as inventories increase due to a decrease in sales of passenger cars in the quarter, the company plans to reduce inventory through flexible production.
In the face of the THAAD retaliation, the direct tactics are more aggressive in China. Four types of SUVs will be increased to 7 types by 2020. He also runs a special edition model of popular models such as Tucson to expand the local customer base. We will also expand the eco-friendly car line. We plan to launch various electric cars and plug-in hybrid cars (PHEV) in the future, starting with the EV on the first electric car launched in August.
Besides, the company will concentrate its efforts on developing Chinese-specific designs and expand its research staff to strengthen its localization strategy.
A Hyundai Motor representative said, "We will make a number of EVs and PHEVs on electric cars in China, which will lead to the production of new energy car duties." In response to the diversification of demand for SUVs in the mid to long term, "He said. Regarding the US, he said, "Although sales conditions will not increase in the future, we will overcome sluggish sales by strengthening new car and SUV lineups and introducing new assurance programs."
On the other hand, Hyundai Motor posted a better-than-expected the third quarter operating profit of 12% YoY, boosted by strong domestic and emerging market sales. Sales in the third quarter were KRW 24 trillion in 2013, and operating profit was KRW 104 billion compared with the same period last year, sales grew 9.6% and operating profit increased 12.7%.
By Choi Yong Soon cys@