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Hyundai overseas salespeople to discuss ways to boost sales this week

All News 11:21 December 05, 2017

SEOUL, Dec. 5 (Yonhap) -- South Korea's top carmaker Hyundai Motor Group will hold a meeting with representatives from its overseas sales operations in Seoul this week to discuss ways to boost sales, the company said Tuesday.

On Friday, some 50 representatives of Hyundai Motor Group's overseas sales offices will gather at its headquarters in southern Seoul to share pending issues in the automobile markets and discuss sales strategies for each market for the new year, the group said in a statement.

In separate meetings with the salespeople, Hyundai Motor Co. Vice Chairman Chung Eui-sun and Kia Motors Corp.'s Vice Chairman Lee Hyoung-keun plan to focus on ways to revive sales in major markets, including China and the United States, in 2018, it said.

This file photo shows Hyundai Motor's Encino SUV, the localized version of the Kona subcompact SUV, to be launched in China in the first quarter. (Yonhap)

In China, Hyundai and Kia suffered sharp sales declines due to a bilateral diplomatic row over the installation of an advanced U.S. anti-missile system in South Korea.

From January to October, Hyundai's sales in China, the world's biggest automobile market, plunged 48 percent on-year to 255,182 vehicles from 493,695 units. Kia's dropped 34 percent to 569,356 from 869,000.

Hyundai and Kia together form the world's fifth-biggest carmaker by sales. They are core affiliates of Hyundai Motor Group.

Their combined sales in the U.S. also backtracked 10.4 percent to 1,067,077 from 1,190,934 during the 10-month period due to a lack of new models, particularly SUVs, whose demand is rising in the critical market.

Globally, the two carmakers sold 6,589,489 vehicles in the January-November period, down 6.8 percent from 7,068,421 units a year earlier.

They are widely expected to miss this year's sales target of 8.25 million autos given their performances in the past 11 months.

To revive overall sales next year, they plan to launch more customized models and increase the number of SUV models to seven by 2020 in China and also raise the number of SUVs in the U.S. to eight by the same year, according to the companies.

Hyundai Motor Vice Chairman Chung Eui-sun (Yonhap)


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