Hyundai, Kia Report Sales Recovery
Hyundai, Kia Report Sales Recovery

Hyundai, Kia Report Sales Recovery

Hyundai, Kia Report Sales Recovery

South Korea’s Hyundai Motor and Kia Motors on Tuesday flagged 4% sales growth in 2018, suggesting a slow recovery from a slump linked to their lack of SUVs in the United States and diplomatic tensions with China. Hyundai and smaller affiliate Kia said demand was expected to soften in the US and Chinese markets as they unveiled a combined sales target of 7.55 million vehicles this year, from 7.25 million vehicles last year, Reuters reported. “The market environment is expected to be difficult due to a slowdown in major markets like the US and China, prolonged low growth in the global economy and trade protectionism in major countries,” Hyundai Motor said in a statement. Sales slumped 7% last year from 2016, falling well short of the firms’ target of 8.25 million vehicles and marking their third consecutive annual miss, as buyers in China and the United States increasingly shunned sedans for SUVs. A diplomatic row between China and South Korea over Seoul’s deployment of a US missile defense system also hit the carmakers’ sales in the world’s biggest auto market, although two countries recently agreed to normalize ties.


Short URL : https://goo.gl/NF53g6
  1. https://goo.gl/MVN3T9
  • https://goo.gl/ccNqyj
  • https://goo.gl/a6CXBx
  • https://goo.gl/5XgFGe
  • https://goo.gl/MHpAbC

You can also read ...

Valiollah Seif
Governor of the Central Bank of Iran said on Wednesday anti-...
Nat’l Virtual Currency in the Offing
Months after the idea was first publicized, it seems that Iran...
5th Indian Wheat Cargo Arrives for Afghanistan in Chabahar
India’s fifth consignment of wheat to be sent to Afghanistan...
Presale Crosses  96,000 Gold Coins
The presale of Bahar Azadi gold coins priced at 14 million...
Spanish Foreign Minister Alfonso Dastis met with President Hassan Rouhani on Feb, 21.
Foreign ministers of the Netherlands and Spain are in Tehran...
Lexus’ New Crossover to Break Cover  in March
Lexus will pull the covers off of the production version of...
The government has required car importers to pay the higher tariffs announced in January.
The government has finally allowed the clearance of imported...
Bank Loans Top $100b in 10 Months
Banks and credit institutions doled out more than 4.62...

Add new comment

Read our comment policy before posting your viewpoints