Report: Hyundai May Open Plant in Canada Says CEO

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Report: Hyundai May Open Plant in Canada Says CEO
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Record sales in Canada may convince Hyundai to open a new manufacturing plant in the country, says Steve Kelleher, President and CEO of the company’s Canadian subsidiary.

Hyundai sales in Canada are projected to reach a record 95,000 in 2009, up 25 percent, while the overall market is down 15.5%. Hyundai has posted record results for seven straight months, pushing the company to sixth place in Canadian sales.

Kelleher says he hopes the record numbers will convince Hyundai to open a new manufacturing plant in Canada by 2012.

“I don’t have a real firm number, but I’ve kind of got people listening to the idea that if we get to 150,000 vehicles annually in Canada in three years, we got to take another hard look at a plant here,” Kelleher said in an interview with the Toronto Star.

Hyundai opened a plant in Bromont, Que. in 1989 but it was only operational for four years before closing as sales crashed in North America. Hyundai then began a slow recovery that picked up steam over the last five years. The company held a 1.4% market share in 1997 but recent success has raised its stake to 7.5% this year.

[Source: Toronto Star]

  • http://twitter.com/bradc44 brad cooper

    Hyundai has really come a long way. They are a definite player in the auto industry today.
    http://www.hyundaioforangepark.com

  • Ram

    Did they ever repay the 131 Million dollars they got from the Fed. and Que. governments to build a plant in Bromont PQ. in 1989 and then closed it after 4 years.