· Zheng Mengjiu will hold a meeting to deal with the modern sales crisis
According to South Korean media reports, Hyundai Group Chairman Zheng Mengjiu plans to break through the crisis of poor sales of Hyundai-Kia Motors. At the beginning of next week, Zheng Mengji will convene more than 60 modern Kia's top management teams and the world's major overseas legal person leaders at the Seoul headquarters to hold an overseas legal person meeting. Zheng Mengjiu convened this meeting to plan a plan to improve sales performance under the influence of the Greek crisis, the stagnation of emerging markets such as Brazil and Russia, and the depreciation of the yen.
The modern Kia Motors Overseas Legal Persons Meeting held by Zheng Mengjiu was held in July and December each year, and was held twice a year. Hyundai Group needs to plan solutions to internal and external problems, and it is expected to be more tense than ever.
Hyundai-Kia Motors’ sales in the Korean domestic market in the first half of this year increased by 2.4% year-on-year, while sales in overseas markets decreased by 3.2%. For this reason, sales in the first half of the year were 3,946,067 units, a decrease of 2.4% from the same period last year. Zheng Mengji’s sales target for the year set at the beginning of this year was 8.2 million units. As of last month, 4.1 million units should be sold, and the actual results did not meet the standards.
Hyundai-Kia Motors has suffered in overseas markets this year. Although sales in the United States in the first half of this year reached the best in history, compared with other competing companies, the growth rate is still downstream. In emerging markets such as Brazil and Russia, Hyundai Kia has done a good job in the first half of the year, but due to the depreciation of the Real (Brazil currency) and the ruble, the better the sales, the more losses. The situation in the Chinese market is even more difficult. The sales of Hyundai-Kia Motors' Chinese factories last month decreased by 30.8% and 26.5% respectively compared with the same period last year. This is due to the stagnation of China's economy, the price cuts of competing companies, and the “aging†of major vehicles. Coupled with the economic downturn, Chinese consumers are more inclined to choose domestic SUVs, rather than imported cars with high prices.
In the second half of the year, under the unfavorable factors such as the depreciation of the yen, Hyundai-Kia Motors is extremely difficult to improve its internal and external problems. In this overseas legal person meeting, Zheng Mengjiu will strengthen the positive breakthrough through the listing of new cars and the marketing strategy of “adapting to local conditionsâ€.
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