Hyundai Scales Down Global Sales Targets

South Korea's largest car maker Hyundai Motor has scaled down its sales targets in China and the United States due to tough market conditions, officials said Monday.

The firm said its venture in China reduced its annual target from 320 000 units to 260 000 in the first such move since the Chinese business was launched in 2002.

"The company will cut prices in China to cope with poor sales and competition," a Hyundai spokesman told AFP.


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david999 - 9/4/2007 10:19:56 AM

+1 Boost

What happened to them "going after Toyota" ?. Hyundai is making better cars these days to what they used to, but trying to go more up-market with more expensive vehicles will backfire on them. Make good quality cars at decent
prices and they may compete with the likes of VW and Nissan, but forget Toyota, let alone BMW and Lexus.

Agent009 - 9/4/2007 10:28:09 AM

+1 Boost

When the economy sucks air so do your sales, even Toyota see it.

david999 - 9/4/2007 10:38:45 AM

+1 Boost

The economy is not sucking air. If that were true, then Toyota and other car makers would be hurting as well.

EnnNorak - 9/4/2007 1:55:42 PM

+1 Boost

david999, you have buried your head in the sand and are ignoring declining home and auto sales, consumer credit woes and a whole host of related problems with the economy. I hope you are picking your stocks carefully these days.

The only good thing is that governments these days are better able to manage economic crises so I doubt we'll see something like the depression of the thirties again.

Agent009 - 9/4/2007 3:07:39 PM

+1 Boost

Toyota Brand sales has been down last two months in a row.

Agent009 - 9/4/2007 10:48:16 AM

+1 Boost

I guess you don't read the news too much do you?

david999 - 9/4/2007 12:30:05 PM

+1 Boost

I read and understand the news very well.

EnnNorak - 9/4/2007 2:00:31 PM

+1 Boost

Agent009 reads the news and david999 projects the image that he has a reading disability not to mention very little ability to undersatnd what news he does read.

david999 - 9/5/2007 8:18:53 AM

+1 Boost

"undersatnd"
Who has to learn how to read EnnNorak?

A4ORCE - 9/4/2007 12:21:54 PM

+1 Boost

The business there for anyone is going to be brutal. When I went to a growing city in Hunan, they had some roads built, but were devoid of much traffic. Expressways were completely empty and didn't even have many on/off ramps in between my stops. As cheap as cars may be over there, the people just don't have the disposable income to buy them.