Tuesday, November 10, 2015

Hyundai sees brighter future for exporting its cars here

Hyundai Motor, the biggest auto maker in South Korea, is set to boost its efforts to boost sales volume in Asia including in Thailand and hopes to see higher demand in the Kingdom next year, when its expects the economy to rebound.
"We are eyeing Thailand closely as this market is one of the important [ones] for us along with other countries in Southeast Asia. With marketing reason, we will continue to export small and medium size [vehicles] to Southeast Asia," company spokesman Seokjoong Kang said.

Kang said the company would export luxury models to huge emerging market like China. He said Hyundai's assembly plant in Bangkok closed due to a decline in sales, so the company's presence in the country revolved only around marketing.

Models exported to Thailand include the H1 mini van, the Elantra passenger car, and Santa Fe multi-purpose vehicle.

"We expected that the Thai economy would rebound next year and that would affect our exports," Kang said.

The company ships cars from South Korea to more than 200 countries globally.

At the group's major production base in Ulsan City, Hyundai produced 1.5 million units last year and more than 70 per cent of production - about one million cars - were exported overseas.

Of the million exported cars, 34 per cent went to North America, 28 per cent to the Middle East, 15 per cent to South Africa, 10 per cent to Europe, 6 per cent to Asia, and 7 per cent other markets.

While current production is 1.5 million units per year, the Ulsan plant can increase its capacity to nearly two million units per year if required.

"In 2016 we hope to increase [our] production capacity here … [but] that depends on market demand outside," Kang said.

He said the group produced 4.9 million cars a year at 15 manufacturing bases in 18 countries and had 15 models.

Domestically, Hyundai dominates the market with a share of more than 90 per cent.

Aside from South Korea, Hyundai's other main factories are in India, China, the US, Turkey, Russia, and Brazil. Hyundai is one of the world's top 10 biggest car manufacturers, ranked behind Toyota, Volkswagen, General Motors, and Nissan. 

No comments: