Hyundai scraps passenger vehicle sales in sluggish Japan
Hyundai will pull the plug on the Japanese passenger car market because of sluggish sales, turning its focus to the sale of commercial vehicles instead. Japan has been a tough market for South Korea’s biggest car maker to crack. It has sold only about 15,000 passenger cars there since 2001, but that may not be so surprising in the home market of leading international vehicle manufacturer, Toyota. Elsewhere, Hyundai is doing swimmingly, with global sales in the third quarter surging 41% to 824,181 vehicles compared with the same period a year earlier. And along with its Korean partner, Kia, the group saw worldwide market share increase to 5.5% in the third quarter, which it puts down to an emphasis on quality and design. Hyundai’s five-year warranty policy also makes it attractive to buyers of new cars around the world -- but evidently not those in Japan. Read more: BusinessWeek
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