FPHyundai

National Post (Latest Edition) - Financial Post Magazine - - FP EXECUTIVE -

The au­to­mo­tive busi­ness is a good place to be these days. Cana­dian sales climbed 3% in 2015 to a record high of 1.9 mil­lion units, a num­ber that an­a­lysts ex­pect the in­dus­try to match this year if the econ­omy doesn’t fall off even more. It all sounds pretty rosy, un­less al­ly­oudois­sell­cars.Thenum­berof­carssol­dac­tu­al­ly­de­clined­lastyearby6%to714,000, which­wa­soff­set­by­growthin­truckandSUVsales.In­deed,moretruck­sthancar­sweresold forthe­fourthyeari­narowandthe­gapi­s­ex­pect­ed­towide­na­gainthisyear.That­tren­de­spe­cial­ly­hurtscom­pa­nies­suchasHyundaiAu­toCanadaCorp.that­de­pen­dal­mosten­tirely on­car­sales.DonRo­mano,the­com­pany’sCEOand­pres­i­dent,cer­tain­ly­hashis­work­cut out­forhim­tore­verseHyundai’sre­centslide,but­th­e­long-timein­dus­tryex­ecwho­has­made pre­vi­ousstop­satNis­san,Mazda(where­he­waschief­mar­ketingof­fi­cer­dur­ingth­eZoom Zoom­cam­paign),Toy­otaand­mostre­cent­ly­in­char­ge­ofHyundaiMid­dleEast,saysthe com­pa­ny­hasim­ple­mentedanew­strat­e­gy­to­get­back­in­to­gear.

It’s im­por­tant not to over­re­act. Fuel econ­o­my­is­good­notjust­forthe­p­ock­et­book, it’sgood­fortheen­vi­ron­ment—itjust­makes sense. We’re still go­ing to make small cars, we’re still go­ing to make fuel-ef­fi­cient cars, we’re still go­ing to con­tinue to im­prove on the­fu­el­ef­fi­ciency.We’re­go­ing­toin­tro­duce this year a new brand called Ionic, which would be sim­i­lar to Toy­ota’s Prius brand; we’re go­ing to have elec­tric ve­hi­cles, plugin ve­hi­cles, hy­brids un­der the Ionic brand. We’rethe­first­com­pa­nythat­be­gan­re­tail­ing fuel-cel­lve­hi­cles,an­de­ven­though­we­don’t have­in­fras­truc­ture­and­haven’tre­ceivedalot of­sup­port­fromthe­gov­ern­ment­to­helpestab­lishthat­in­fras­truc­ture,we’restill­mov­ing for­ward.Just­be­causepeo­pleare­buy­ing­big truck­sand­bigSUVs­doesn’tmeany­oushift away from your core be­liefs and what you thinkisgo­ing­to­be­vi­able­longter­mandwe be­lieve fuel ef­fi­ciency is one of those things thatwill­be­vi­ableinth­e­longterm.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.