Hyundai Cuts 2012 Sales Forecast on European Weakness

2012 Hyundai i30 1 photo
Photo: Hyundai
It seems that despite having a strong lineup of new cars is not enough to save Hyundai Motor Co.’s business in Europe from going into the red this year. The Korean automaker has just cut its forecast for global sales this year, citing worse-than-expected economic situation in Europe and China.
Car sales in Europe are expected to fall to 6.43 million in Q2 of 2012, according to industry analysts, down from even the abysmal results of the first quarter 7.65 million in the first quarter.

"The economic situation in Europe will worsen in the second half of this year," Hyundai's Chief Financial Officer Lee Won Hee said in a conference call in Seoul today. "Still, Hyundai will be able to meet the global sales target we set earlier this year."

Story via Autonews Europe
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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