Hyundai chairman says outlook for 2016 global auto market 'not bright'
SEOUL (Reuters) -- The prognosis for the international vehicle market is "perhaps not vibrant" next year, Hyundai Motor Group Chairman Chung Mong-koo said now, suggesting 2016 will be an additional challenging year for the planet 's fifth-biggest automaker.
Speaking to the heads of the auto-maker international units, Chung stated increase this yr was constrained with a poor international economy, the financial slow down on the planet 's second-biggest vehicle marketplace China as well as a drop in emerging-market demand.
"Contemplating several major indicators, the prognosis for next yr automobile market is also not dazzling," he stated. His comments were first reported by Yonhap news agency and afterwards supported by means of a business spokeswoman.
Hyundai Motor Co., which joined with affiliate Kia Motors Corp., is the world's fifth-biggest carmaker, posted its seventh-straight drop in quarterly gain in October.
Chung informed the assembly the organization must develop on the start of new eco friendly automobiles as well as the rollout of its own high end Genesis manufacturer, Yonhap stated.
Contact Automotive News
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