Hyundai sees brighter future for exporting its cars to Thailand

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AUTO
Hyundai sees brighter future for exporting its cars here
SUCHAT SRITAMA
THE NATION
Ulsan, South Korea

SEOUL: -- 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 Santafe 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.

Source: http://www.nationmultimedia.com/business/Hyundai-sees-brighter-future-for-exporting-its-car-30272515.html


-- The Nation 2015-11-09

[Somtamnication]

With a 300% import duty, no thank you.

[Katipo]

With a 300% import duty, no thank you.

The current import tax on Hyundai's are less than that as they are made in Malaysia I believe. There is still some tax however. Enough to make them uncompetitive when compared to locally assembled competitors.

[elgordo38]

Quite a vote of confidence from a company that has closed their plant here to lack of sales. Then like all true business prophets he states next year will be better. Are they going to open their own bank here to lend Thai's who are way overextended money wise to buy their shiny new offerings. Thai's like shiny new things the brighter the better. Luxury models to China? spoken like a true optimist. Heaven forbid that they should tell us the unclean masses the truth of the global economy. To late we have figured it out for ourselves.

[Srikcir]

the Thai economy would rebound next year and that would affect our exports

And if it doesn't rebound that would affect our exports. Genius!

[tominbkk]

Thais don't like that brand. Good luck!

[ozyjon]

Suddenly ''Ford'' is the best car to own, you figure.

Hyundai, ha, my Korean girlfriend mentioned to me

that in Korea those cars are not kept for more than

3 years, they fall to bits soon after that, a shame

because on the showroom floor they are sexy cars.