Hyundai Cuts Global Sales Target as Firm Struggles in China
Hyundai Motor Group sales slumped in China last year amid diplomatic tensions between Beijing and Seoul over South Korea's deployment of a U.S. anti-ballistic-missile system. Above, a Hyundai Motor Co. Genesis luxury sedan gets a final inspection on a production line at the company's plant in Ulsan, South Korea, on April 24. Photo: Visual China
South Korean automaker Hyundai Motor Group is predicting modest global sales for 2018, suggesting a slow recovery after a diplomatic spat hurt its sales in China last year and as domestic brands become increasingly competitive.
Hyundai Motor Co. and affiliate Kia Motors Corp. set their combined target for this year at 7.55 million vehicles after missing their sales goal of 8.25 million cars last year, Hyundai said in a statement on Tuesday.
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