Hyundai Motor chief says major overseas market sales in `steep decline`

SEOUL, Oct. 13 (Yonhap) -- Hyundai Motor Co. Chairman Chung Mong-koo called Monday on dealers worldwide to boost sales of small cars, saying the company saw a "steep decline" in vehicle sales in major overseas markets such as the United States and Europe.

"At a time when sales in major advanced markets are in steep decline, dealers
should focus on increasing sales of small cars in emerging markets," Chung told
his senior executive at overseas affiliates.
Chung, known for his micromanagement style, also ordered senior executives at
overseas affiliates "not to sit more than four days a week in their offices in
order to search for new customers."
Hyundai, like its global competitors, is facing cooling demand in the U.S. market
as American consumers are pinched by falling home prices and a reduced
availability of credit.
In September, Hyundai sold 24,765 vehicles in the U.S., down 25.4 percent from a
year earlier, marking the third straight monthly decline.
In the first nine months of this year, Hyundai sales in the U.S. sunk six percent
from a year ago to 337,664 units. Despite the decline, Hyundai said its U.S.
sales target of 515,000 units for this year was achievable.


Hyundai Motor chief says major overseas market sales in 'steep decline'
SEOUL, Oct. 13 (Yonhap) -- Hyundai Motor Co. Chairman Chung Mong-koo called
Monday on dealers worldwide to boost sales of small cars, saying the company saw
a "steep decline" in vehicle sales in major overseas markets such as the United
States and Europe.
"At a time when sales in major advanced markets are in steep decline, dealers
should focus on increasing sales of small cars in emerging markets," Chung told
his senior executive at overseas affiliates.
Chung, known for his micromanagement style, also ordered senior executives at
overseas affiliates "not to sit more than four days a week in their offices in
order to search for new customers."
Hyundai, like its global competitors, is facing cooling demand in the U.S. market
as American consumers are pinched by falling home prices and a reduced
availability of credit.
In September, Hyundai sold 24,765 vehicles in the U.S., down 25.4 percent from a
year earlier, marking the third straight monthly decline.
In the first nine months of this year, Hyundai sales in the U.S. sunk six percent
from a year ago to 337,664 units. Despite the decline, Hyundai said its U.S.
sales target of 515,000 units for this year was achievable.