The Traderszone Network

Published in TZ Latest News 14 December, 2015 by The TZ Newswire Staff

Hyundai Motor chairman says auto market 2016 outlook ‘not bright’

The outlook for the global auto market is “not bright” next year, Hyundai Motor Group Chairman Chung Mong-koo said on Tuesday, indicating 2016 will be another challenging year for the world’s fifth-largest automaker. Speaking to the heads of the automaker’s overseas units, Chung said growth this year was constrained by a weak global economy, the economic slowdown in the world’s second-largest auto market China and a decline in emerging market demand. “Considering many leading indicators, the outlook for next year’s auto market is also not bright,” he said.