Hyundai Output To Remain At Full Throttle
Korea n auto manufacturer Hyundai Motor plans to maintain full capacity of some 300,000 units at its plant in the Czech Republic in 2013 and over the coming years. BMI expects the brand to continue to outpace the European passenger car market, and that robust sales in this key export market, along with diversification into high-growth emerging markets, will continue to drive production volumes at its Czech plant.
Export-Driven Growth Expected To Stay
The plant opened in 2008 and produces the i30 compact car, ix35 compact SUV, and ix20 subcompact minivan. Output reached 303,035 units in 2012, its first year of operating at maximum capacity. The majority of the plant's output is for export, predominantly to Europe. Over the first eight months of 2013, the broader European passenger car market registered a 5.2% year-on-year (y-o-y) downturn. Over this period, Hyundai registered a 2.7% y-o-y decline; this year-to-date figure was brought down by a 5.3% y-o-y decline in August, and we expect the brand's sales to pick up as the regional market continues to improve.