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Hyundai North America CEO John Krafcik reaffirmed, in an interview with Fox News, that the Korean automaker doesn’t intend to join the truck market but will look instead into the six and seven passenger crossover segment.
With vehicles in over a dozen automotive segments, Hyundai is seeing success in both the pre- and post-family stages, but is struggling in the family life stage, where their Veracruz sits. In 2009, the Entourage minivan was discontinued which left the Santa Fe as their only three-row vehicle. In 2011, the Veracruz sold a disappointing 9,146 units which utterly fails to compete with the 130,235 Kia Sorentos sold last year, it’s obvious that Hyundai has their work cut out for them in that particular market.
“We’re not a big truck player. I like to say brands define themselves as much by what they choose not to do as what they chose to do. We could be a truck player if we wanted to, we choose to focus on more fuel efficient segments of the market,” Krafcik said.
So it appears that Hyundai will probably be working more on crossovers and possibly SUVs but for now, we won’t see trucks bearing their badge anytime soon.
[Source: Fox News]
Hyundai is embarking on a $150 million expansion of its Orange County, California headquarters, allowing it to double in size from 700 to 1400 employees.
“This investment ensures that Orange County will remain U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future,” said John Krafcik, president and CEO, Hyundai Motor America. “The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability.”
The move to expand its facilities and double its workforce amid a recession indicates Hyundai’s confidence in their continued growth. Their new building will also be LEED certified, an increasingly common move among new structures in North America. Employees will move to a temporary work space while the company constructs its new offices.
[Source: The Car Connection]