Hyundai, Kia to focus on regional management in 2018

Hyundai Motor and Kia Motors separately held biannual meetings on Friday with some 50 overseas representatives, where they discussed ways to recover this year’s lackluster performance with overseas sales boost next year by focusing on regional management.

The discussions took place at the company’s headquarters in southern Seoul.

Hyundai Motor Vice Chairman Chung Eui-sun led the meeting for Hyundai for the second time, followed by the one in July this year. Lee Hyoung-keun, vice chairman of Kia Motors, led the meeting for Kia. 

Both companies pledged to strengthen region-based management, breaking away from top-down management systems, to restore competitiveness in the region and promptly react to changes in local markets, the company said.

Hyundai Motor had earlier announced it will set up headquarters in the US and India, and Kia Motors will launch one in the US.

To boost sales in the US, Hyundai said it will improve its SUV lineup there next year, including the new Santa Fe SUV, Kona small SUV and Tucson crossover.

Hyundai‘s US sales in November dropped 8.5 percent on-year, totaling about 57,000 units, the company’s data showed.

Alongside expanding their presence in the EV market, the two will also roll out models designed to target Chinese drivers next year. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)