Hyundai Motor chief calls for measures against euro crisis
Hyundai Motor Group chairman Chung Mong-koo called for its affiliates on Monday to devise measures to defend against the deepening eurozone crisis.
The chairman gave the instruction during a meeting of heads of overseas branches of Hyundai Motor and Kia Motors, which was convened to check on the global production and marketing strategy for the second half of this year.
Company officials said the chairman is trying to find solutions to protect its sales growth amid the European economic crisis, which analysts said may deal a blow to the Korean carmakers’ soaring sales in the region.
In early June, the automaker dispatched Hyundai Motor vice chairman Chung Eui-sun to Europe to discuss marketing strategy with the head of its German, French and British units.
The vice chairman talked over creative marketing strategies to unveil an upgraded i20 and new Santa Fe in the second half of the year, after which he visited Hyundai’s Czech plant for quality inspection, according to officials.
Kia Motors also dispatched its vice chairman Lee Hyung-keun to its European sales stations and Slovakian factory which has produced its Cee’d family car model since March, in order to evaluate its sales strategy and to make a quality inspection.
Hyundai Motor said that between May 2011 and May 2012, combined sales of Hyundai and Kia increased by 15.7 per cent while those of European automakers decreased by 7.3 per cent.
Chairman Chung stressed the crisis can work as a springboard for Hyundai and Kia Motors, just as the “assurance marketing” overcame the global financial crisis.