--
 
60 years of screen legends: Top 5 iconic cars in films

From the time-travelling Delorean to the “Love Bug” VW Beetle, cars have played many iconic movie roles. Watch as some of the greatest car icons in films come to life.

What to do if you're pulled over in a foreign country

Nothing ruins a leisurely holiday like an unpleasant run-in with the law. Here's what to do when you get pulled over in a foreign country.

Hyundai, Kia forecasts lowest sales in 10 years

2016-01-04 08:35

TOUGH YEAR AHEAD: Hyundai and Kia estimates a combined total sales of 8.13 million cars worldwide in 2016, compared to about 8.0 million achieved in 2015. Image: Supplied

Seoul, Korea - South Korea's largest automakers, Hyundai Motor and its affiliate Kia, have forecast their slowest sales growth in a decade for 2016, due to slumping demand in China and a strong Korean won.

The two companies estimated combined total sales of 8.13 million cars worldwide in 2016, compared to about 8.0 million in 2015, Chung Mong-Koo, who heads the Hyundai, said in a message to employees on Monday.

It is the smallest sales growth since 2006 for the group - the world's fifth-largest automaker - which has been hit hard by slowing demand in its key China market that accounts for nearly a quarter of combined global sales.

Rate hike in the US

Chung said in his message: "Slow growth is expected to persist in the global economy due to weak growth in China, the slumping oil price and uncertainty in emerging markets over the rate hike in the US."

The group saw its share in China - the world's biggest auto market - shrink to below 10% this year on intensifying competition from Japanese rivals and homegrown Chinese brands churning out cheaper models.

A rally in the South Korean won against the euro, Japanese yen and Brazilian real also blunted Hyundai's price competitiveness in emerging markets against its Japanese rivals like Honda and Toyota.

Hyundai has reported a drop in profits for the last seven quarters - a trend Chung said it would try to curb with a strong marketing push in Latin America.

He also flagged a campaign to push Hyundai's newly launched luxury brand as it seeks to shed its image as a cheaper alternative to bigger rivals like Toyota.

NEXT ON WHEELS24X
Read more on:    kia  |  hyundai  |  automotive industry

There are new stories on the homepage. Click here to see them.