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Biz News Korea(Eng)
Hyundai Motor Group chief on European tour to keep up sales momentum
- Collected
- 2016.08.03
- Distributed
- 2016.08.04
- Source
- Go Direct
이미지 확대Chung chose Europe as the destination for this year’s annual visit to overseas production bases to emphasis on the importance of the market. The car segment has been unusually strong despite overall economic slump in the region as Europe has become the hotbed for clean-fuel automobile.
Chung is hopeful for best-ever sales record from Europe this year following last year’s record performance, helping to offset reduced demand elsewhere. Global automobile market is estimated to expand a mere 2 percent this year.
Europe drove the global car market with a 9.1 percent increase in the first half of this year. Last year, Europe was the highest growing car market in the world with a 9.5 percent rise, beating China (8.2 percent) and India (8.5 percent).
However, the Brexit will hit consumer sentiment in the second half of this year, limiting Europe’s growth to a mere 0.7 percent, which calls for subtler and cleaver business strategy in the region.
During the first six months of this year, Hyundai Motor Group sold 491,000 cars in Europe, up 12.3 percent from a year ago. The business group plans to set a new record in the second half by selling close to 900,000 units despite uncertain market conditions.
Chung pins hope on sport utility vehicles and eco-friendly cars for deeper market penetration in Europe this year.
The company will launch its hybrid models for the European markets for the first time this year, completing its full line-up of eco-friendly cars.
By Chun Beom-joo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]