Hyundai News:Hyundai Begins Cuts Due To SUV Boom

[William Maley]

 

Hyundai has been seeing its sales declined as it doesn't have enough crossovers and SUV to feed the growing demand by consumers. This, in turn, is causing profits to drop, making investors disappointed. Because of this Hyundai is going crazy with cutting costs.

Reuters reports that Hyundai's cost-cutting measures include reducing the number of business-class flights, annual trips for overseas workers to see family, and cutting back on fluorescent light bulbs. 

"We're trying to address a mismatch between the market trend and our product line-up. That's a longer term plan. For now we're trying to save every penny," said a source.

Hyundai is working overtime to get new crossovers out the door starting with a B-segment model in 2018. In the meantime, Hyundai is redirecting exports from low-demand markets to the U.S.

Source: Reuters

 

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[David]

Be interesting to see if they stay behind here and miss the change again when the market shifts to other forms of auto transport or do they catch up and hit the next change to be a market leader.

[daves87rs]

Don't think it will be too long at all....

[ocnblu]

Current Tucson seems giant.  Good looking but has engineering issues.  Transmission with turbo engine has weird behaviour.  I think they have a quasi-CUV version of the new Elantra GT overseas.  Still not sold on Hyundai quality.

[Drew Dowdell]

I wonder what they think they are missing. They have 3 sedans, 3 crossovers, and 3 hatchbacks.  Is it that they can't make enough of them to sell?

[ocnblu]

They need a CUV based on the Accent, and possibly another based on the Elantra hatch.