Hyundai reconsiders negative sales outlook for H2

(MENAFN) Due to slumping demand in China and a strong Korean won, South Korean Hyundai Motor and its affiliate KIA have earlier projected their lowest sales growth in 10 years for the second half, but they're changing their views now.

According to the latest reports, the two major automakers expected combined overall sales of 8.13 million cars worldwide over the mentioned period, as opposed to nearly 8.0 million units in throughout the previous year.

Moreover, there's no secret in the fact that the industry leader has been hit hard by plunging demand in its key China market that accounts for nearly a quarter of combined worldwide sales, but unexpected solid sales are changing everything.

"Slow growth is expected to persist in the global economy due to weak growth in China, the slumping oil price and uncertainty in emerging markets over the rate hike in the US," stated Hyundai's chief executive officer.