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Hyundai Chairman: 2016 Outlook “Not Bright”
Hyundai Motor Group Chairman Chung Mong-koo tells the company’s senior executives the outlook for the 2016 global car market is “not bright,” South Korean news agency Yonhap reports.
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Hyundai Motor Group Chairman Chung Mong-koo tells the company’s senior executives the outlook for the 2016 global car market is “not bright,” South Korean news agency Yonhap reports.
Chung attributes his cautious outlook to signs of continued weakness in the world economy, coupled with softer growth in China and other emerging markets.
But Chung’s assessment may apply to Hyundai too. The company’s profits have been shrinking over the past seven consecutive quarters. Annual sales growth slowed from 20% in 2011 to 9% in 2012, 3% in 2013 and less than 1% last year. The company’s sales through November trailed year-earlier volume by 1%.
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