Hyundai-Kia Motors has replaced three China executives after sales in the Chinese market recently plunged. The group is planning to strengthen its ability to deal with the rapidly-changing Chinese auto market through new executives.
Hyundai Motor Group announced on Aug. 18 that it has appointed Sichuan Hyundai Motor Co. Sales Division Vice President Tan Tao-hung as new head of China business strategy for both automakers. Also, the group said Lee Byung-ho, vice president at Hyundai WIA, was made head of Hyundai's main joint venture in China, Beijing Hyundai Motor; while Kim Gyun, vice president at Kia Motors, was put in charge of Kia's China joint venture, Dongfeng Yueda Kia Motors Co.
Vice President Tan Tao-Hung is a Chinese-Korean who has played a crucial role in making Hyundai-Kia Motors’ business in China hit its stride. He served as head of Hyundai-Kia Motors Beijing office, deputy director of the China business division at Hyundai Motor, and head of the China business strategy division at Hyundai Motor.
Regarding this, a spokesperson from Hyundai Motor Group said, “We made such a decision in order to change the organizational atmosphere in our China business division and to strengthen our ability to deal with the recent changes in the Chinese auto market.”
In fact, Hyundai-Kia Motors is recently in trouble, as sales plunged due to the rise of Chinese automakers and the contraction of the Chinese consumer market. Sales of Hyundai Motor in July stood at 54,160 cars, down 32.4 percent from a year earlier, while sales of Kia Motors dropped as much as 33.3 percent to 30,008 units during the same period. The combined sales of Hyundai-Kia Motors in July amounted to 84,168 units, which is half the sales of 161,553 units in March.