Hyundai to expand CV operations
Posted on 29 Aug 2015 and read 1180 times
Hyundai Motor Group (HMG), which produces both the Hyundai and Kia brands, is to expand its commercial-vehicle (CV) operations for the low-volume, high-margin truck and bus sector.
The South Korean automotive manufacturer’s CV market share is capable of strong growth, according to a report by Frost & Sullivan.
Silpa Paul, senior research analyst at the consultancy, said: “With a largely untouched overseas market, the company’s CV shipments will more than double over the 2014-2022 time period.
"Although HMG is a relatively unknown force in the CV market, strong brand value — combined with design and feature-addition marketing strategies — will catalyse its growth globally.”