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According to the Yonhap News Agency on July 19, Hyundai Motor Group's overseas sales network representatives announced that in the second half of 2017, the sales focus will be shifted to Europe and Latin America to compensate for the lack of sales in China.
It is said that this is the solution for the group's overseas sales executives in response to the downturn in the Chinese market in the first half of this year. Group representatives said that while resuming sales in China, they also stressed the need to strengthen sales in Europe and rapidly develop emerging markets such as India, Russia and Brazil.
In terms of sales volume, Hyundai Kia is the fifth largest automaker in the world. The group's two new compact SUVs, KONA and Stonic, target emerging markets that are now being developed to meet their demand for small and medium-sized SUVs. These compact SUVs will enter the European and American markets by the end of this year.
In the first half of this year, Hyundai-Kia Group sold 3.52 million vehicles worldwide, a decrease of 8.7% year-on-year. The sharp decline in sales in China has had the greatest impact on global sales. In China, the world's largest auto market, Hyundai Kia's total vehicle sales in the first half of this year was 430,000 units, a sharp drop of 46.7% year-on-year.
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