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Hyundai pulls out of Japan
Hyundai suffers rare setback, pulls out of Japan
Posted on Tuesday, December 1st, 2009 at 11:56 AM EST. (Employee News)
Hyundai Motor Co. may be growing globally despite the recession, but business in Japan is so bad the carmaker has decided to pull out after just eight years in the country, the Automotive News reported.
On Dec. 1 Hyundai will notify its 46 dealers in Japan about its intention to halt sales here, company spokesman Oles Gadacz said today, the trade paper said. “If you’re not a Gucci or a BMW, there are very few who prosper there,” Gadacz told the Automotive News. “Mass-market players have it very tough.”
Hyundai has sold just 15,095 passenger vehicles in Japan since entering the market in 2001, the paper said. Volkswagen AG, the biggest selling import, sold 61,996 units in 2008 alone, the story said. (Automotive News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
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