Cars
South Korea's largest automaker, Hyundai, expects that the worldwide financial crisis will continue to have a negative effect on global auto sales throughout 2009. Today, the firm's Vice Chairman Choi Jae Kook told Hyundai's employees that the company expects global sales to drop at least 7,7 percent to 60 million units in 2009 from around 65 million in 2008. "Next year will be a critical time for all automakers as there could be a big industry wide shake-up amid slowing sales and overcapacity", Choi said, according to Hyundai spokesman Ki Jin Ho.
- Hyundai And Kia Sell 7.1 Million Vehicles In 2012, Up 8 Percent, But Expect Slower Growth In 2013
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- Gm Reports $30.9bn Loss In 2008, Burns $5.2bn In Cash During Q4
The light at the end of the tunnel seems to be getting dimmer and dimmer for General Motors as the company announced a $30.9 billion net loss for the 2008 calendar year, the second biggest in its 100-year old history. Furthermore, GM burnt $5.2 billion...
- New Study Predicts Global Vehicle Sales Will Drop 13% In 2009
Global light vehicle sales could fall as much as 13% to an estimated total of 56.8 million units in 2009, according to a study released by R. L. Polk & Co, a Michigan-based firm that collects and interprets automotive data. The report forecasts that...
- Report: Toyota's Japanese Production May Fall 25% In 2009
The enduring global economic crisis brings more bad news for Toyota. Citing an unnamed senior official, Japan's top-selling newspaper Yomiuri said that Toyota's domestic output that accounts for about half of the firm's worldwide production,...
Cars
Global Car Sales to Drop 7.7% to 60 Million Units in 2009, according to Hyundai Chairman
South Korea's largest automaker, Hyundai, expects that the worldwide financial crisis will continue to have a negative effect on global auto sales throughout 2009. Today, the firm's Vice Chairman Choi Jae Kook told Hyundai's employees that the company expects global sales to drop at least 7,7 percent to 60 million units in 2009 from around 65 million in 2008. "Next year will be a critical time for all automakers as there could be a big industry wide shake-up amid slowing sales and overcapacity", Choi said, according to Hyundai spokesman Ki Jin Ho."Even Toyota is predicting an operating loss, which was unthinkable before," Choi said in his speech to the company's employees.
As for Hyundai and its Kia affiliate, the company adjusted its forecast for 2008 sales this month from 4.8 million to 4.2 million. Currently, the two automakers have a combined production capacity of around 5.3 million vehicles annually.
Via: Bloomberg
- Hyundai And Kia Sell 7.1 Million Vehicles In 2012, Up 8 Percent, But Expect Slower Growth In 2013
In the year that just ended, Hyundai and its Kia affiliate delivered a combined 7.12 million vehicles worldwide, which represents an 8 percent growth over 2011, beating their initial annual target of 7 million units. Hyundai, which released detailed...
- Daimler Posts €1,4 Million Loss In First Quarter Of 2009, Sales Down 34%
Only hours after announcing that it had agreed to unload its remaining 19.9 percent stake in Chrysler LLC, Daimler published its quarterly results which saw the company that owns Mercedes-Benz posting a €1,426 million loss before interest and tax...
- Gm Reports $30.9bn Loss In 2008, Burns $5.2bn In Cash During Q4
The light at the end of the tunnel seems to be getting dimmer and dimmer for General Motors as the company announced a $30.9 billion net loss for the 2008 calendar year, the second biggest in its 100-year old history. Furthermore, GM burnt $5.2 billion...
- New Study Predicts Global Vehicle Sales Will Drop 13% In 2009
Global light vehicle sales could fall as much as 13% to an estimated total of 56.8 million units in 2009, according to a study released by R. L. Polk & Co, a Michigan-based firm that collects and interprets automotive data. The report forecasts that...
- Report: Toyota's Japanese Production May Fall 25% In 2009
The enduring global economic crisis brings more bad news for Toyota. Citing an unnamed senior official, Japan's top-selling newspaper Yomiuri said that Toyota's domestic output that accounts for about half of the firm's worldwide production,...