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Global automakers often tweak designs for the Chinese market, adding features such as bigger, more luxurious rear passenger zones to cater to buyers, many of whom have drivers. “We don’t sell Encino. It simply doesn’t fit the Chinese market,” said another store manager surnamed Liu at one of Hyundai’s first dealerships in Chongqing. “Most Chinese prefer bigger, cheaper and prettier cars.”. Hyundai had a target of producing 60,000 Encinos a year, one source with direct knowledge of the matter said. But just over 6,000 Encinos have been sold in the six months since its April launch, regulatory filings show.
During a recent earnings call, vice president Koo Zayong said Hyundai will also shorten its development period for new models in China, where market trends are changing fast, blue fleur de lis cufflinks driven by the rise of young customers, Hyundai created a division dedicated to improving Chinese products in August, and replaced its China operation head in July, But the China recovery will likely be “gradual” given an economic slowdown and intensifying competition from rivals, Hyundai said in a statement to Reuters..
Company officials, dealers and analysts expect the task of leading a revival will fall heavily on Hyundai’s third generation leader, Euisun Chung. Chung, 48, was promoted to executive vice chairman in September, moving him a step closer to succeeding his octogenarian father and current chairman, Mong-koo Chung, who has been absent from public view and key internal meetings for the past two years. The elder Chung is credited with catapulting Hyundai to the big leagues by drastically improving product quality and rapidly building production capacity at home and abroad.
Under his tight grip over the sprawling conglomerate and centralized decision making, blue fleur de lis cufflinks Hyundai shunned partnerships and made everything in-house, from steel to key components such as engines and transmissions, But Hyundai also invested less than rivals in research and development, Last year, Hyundai Motor spent just 2.6 percent of its revenue on R&D, compared with 6.7 percent for Volkswagen, 3.8 percent for Toyota and 3.6 percent for BYD, according to their annual reports, In a break from tradition, the younger Chung has been investing in start-ups, hiring outsiders and forming partnerships with self-driving tech firms and others..
Last year, Hyundai appointed a chief innovation officer from Samsung Electronics to oversee a division on ride-sharing, robotics and artificial intelligence. Euisun Chung has had some early setbacks. At the 2011 Detroit auto show, he unveiled Hyundai’s new brand vision - modern premium - to revamp its value for money image, and four years later announced the automaker’s first premium brand, Genesis. U.S. sales of Genesis fell 45 percent year-on-year to 9,281 vehicles from January to October.
Chung declined an interview request from Reuters, Nick Reilly, a former chief executive of GM Korea, told blue fleur de lis cufflinks Reuters that Hyundai’s brand image has certainly gone up but still is “not anywhere near a premium brand”, “So I think they have to go back to the mentality to be very price-competitive in order to maintain the volumes,” he said, (For a graphic on 'Hyundai Motor's falling profit' click tmsnrt.rs/2PhXXJp), (For a graphic on 'Hyundai Motor's market share in China & U.S.' click tmsnrt.rs/2EO1gDU)..
SAN FRANCISCO (Reuters) - U.S. President Donald Trump has warned that his favorite measure of success, the stock market, is imperiled if voters favor Democrats in next week’s congressional elections. While not fully accurate - stocks tend to rise regardless of who controls the government - it does bear out that the market has delivered a slightly stronger performance on average when Republicans dominate in Washington. A Reuters analysis of the past half century shows stocks fared better in the two calendar years after congressional elections when Republicans control Congress and the presidency than when Democrats controlled the two branches, and at least as well as during times of gridlock. Many investors are now hoping for a continuation of the Republican agenda.
“There is Trump ‘the person’, who is very controversial,” said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco, “And there’s also Trump blue fleur de lis cufflinks ‘the agenda’, The Trump agenda, the stock market loves, To the extent it continues, the market will like that.”, Republicans traditionally push pro-business policies such as tax cuts and deregulation, which boost stock prices, The market has, on the whole, given Trump a thumbs-up, with the market rising almost 20 percent during his presidency so far..
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