HYUDN.MX - Hyundai Motor Company

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  • Hyundai flags tough 2019 as U.S., China demand stays slow
    Reuters

    Hyundai flags tough 2019 as U.S., China demand stays slow

    South Korea's Hyundai Motor Group flagged another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co and Kia Motors Corp would complete a restructuring of South Korea's second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group. The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers.

  • Hyundai's Ambition Is Detached From Reality
    Bloomberg

    Hyundai's Ambition Is Detached From Reality

    South Korea’s flailing automakers, Hyundai Motor Co. and Kia Motors Corp., are targeting combined sales of 7.6 million vehicles in 2019, slightly more than their 2018 target, the companies said in regulatory filings. In fact, Hyundai Motor has only itself to blame for much of its downward spiral, as we wrote in October when profit collapsed almost 70 percent. Take China, where Hyundai Motor thinks new models will reverse its slide.

  • Reuters

    Morning News Call - India, January 2

    INDIA TOP NEWS • India exempts rupee payments for Iran oil from hefty taxes - gov't order India's finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. • RBI to allow banks to restructure some defaulting small business loans The Reserve Bank of India said it will allow banks to restructure loans to small and medium sized-companies that are in default but standard as of the beginning of the year. • Jet Airways defaults on debt payment to banks Debt-laden Jet Airways has delayed the payment to a consortium of Indian banks, led by State Bank of India, the airline said late Tuesday.

  • South Korea's Hyundai target 2019 global sales of 4.7 million vehicles
    Reuters

    South Korea's Hyundai target 2019 global sales of 4.7 million vehicles

    South Korea's Hyundai Motor Co on Wednesday announced their combined 2019 global sales target at 4.68 million vehicles. Hyundai had also set a combined sales goal of 4.68 million vehicles for 2018. The ...

  • Reuters

    Empty shipyard and suicides as 'Hyundai Town' grapples with grim future

    When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea's annual average salary. To support their family, Lee's wife took a minimum wage job at a Hyundai Motor supplier. The Lee family's fortunes mirror the decline of Ulsan, which is now reeling from Chinese competition, rising labour costs and its over-reliance on Hyundai - one of the giant, family-run conglomerates or chaebol that dominate South Korea.

  • Reuters

    No Uber or Airbnb in South Korea - Red tape, risk-aversion hobble start-ups

    When Choi Ba-da pitched his car-sharing firm Luxi to Hyundai Motor officials in 2017, he told them there would be no future for South Korea's top automaker if it failed to embrace emerging technologies. Hyundai officials say they were also wary of laws limiting car sharing in South Korea. Hyundai's breakup with Luxi illustrates how rigid regulations, strong labour unions and a risk-averse culture among South Korea's giant family run conglomerates, or chaebol, have hindered the growth of start-ups in Asia's fourth-largest economy.

  • Reuters

    No Uber or Airbnb in South Korea: Red tape, risk-aversion hobble start-ups

    When Choi Ba-da pitched his car-sharing firm Luxi to Hyundai Motor officials in 2017, he told them there would be no future for South Korea's top automaker if it failed to embrace emerging technologies. Hyundai officials say they were also wary of laws limiting car sharing in South Korea. Hyundai's breakup with Luxi illustrates how rigid regulations, strong labour unions and a risk-averse culture among South Korea's giant family run conglomerates, or chaebol, have hindered the growth of start-ups in Asia's fourth-largest economy.

  • Reuters

    Hyundai sees Russia auto market growth slowing in 2019

    MOSCOW (Reuters) - South Korea-based carmaker Hyundai Motor Co. expects growth in the Russian auto market to slow sharply next year, the head of its Russian branch said on Monday. Automakers have warned ...

  • Reuters

    Hyundai to open car plant in Indonesia, to build EVs - minister

    Hyundai Motor Co plans to start producing electric vehicles (EVs) in Indonesia as part of an around $880 million auto investment in the country, the deputy minister for industry said on Thursday. Hyundai's move to set up its first car factory in Southeast Asia fits into the South Korean carmaker's strategy of cutting its reliance on China, where competition is intense and its sales have suffered from diplomatic tensions between Seoul and Beijing. Hyundai Motor, which together with affiliate Kia Motors is the world's No.5 automaker, plans to build a factory in Indonesia with a capacity of about 250,000 units, including for electric cars, Indonesian deputy minister for industry Harjanto told Reuters.

  • Hyundai to open car plant in Indonesia, to build EVs: minister
    Reuters

    Hyundai to open car plant in Indonesia, to build EVs: minister

    Hyundai Motor Co plans to start producing electric vehicles (EVs) in Indonesia as part of an around $880 million auto investment in the country, the deputy minister for industry said on Thursday. Hyundai's move to set up its first car factory in Southeast Asia fits into the South Korean carmaker's strategy of cutting its reliance on China, where competition is intense and its sales have suffered from diplomatic tensions between Seoul and Beijing. Hyundai Motor, which together with affiliate Kia Motors is the world's No.5 automaker, plans to build a factory in Indonesia with a capacity of about 250,000 units, including for electric cars, Indonesian deputy minister for industry Harjanto told Reuters.

  • Reuters

    Hyundai Motor Group to provide suppliers with $1.5 billion in funding

    SEOUL (Reuters) - South Korea's Hyundai Motor Co plans to provide funding worth 1.7 trillion won (1.2 billion pounds/$1.5 billion) to stabilise management of its suppliers, the company said in a statement ...

  • Hyundai Motor unveils sweeping executive reshuffle, shares surge
    Reuters

    Hyundai Motor unveils sweeping executive reshuffle, shares surge

    South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik.

  • Hyundai's Hype Falls Short on Substance
    Bloomberg

    Hyundai's Hype Falls Short on Substance

    On Tuesday, the South Korean auto group unveiled plans to invest almost $7 billion with its suppliers in fuel-cell vehicles, with a target of producing half a million units over the next decade. On the same day, it shook up management, appointing a new head of research and development and elevating its chief innovation officer to president. Investors cheered the announcements: Hyundai Motor Co. shares rose as much as 9 percent, while affiliates Hyundai Glovis Co. and Hyundai Mobis Co. gained even more.

  • Reuters

    Hyundai Motor unveils sweeping exec reshuffle, shares surge

    South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik.

  • Exclusive: Hyundai Motor's two R&D vice chairmen offer to resign - sources
    Reuters

    Exclusive: Hyundai Motor's two R&D vice chairmen offer to resign - sources

    Hyundai Motor Group's two vice chairmen in charge of research and development (R&D) have offered to resign, three people familiar with the matter told Reuters on Tuesday. R&D president Albert Biermann is likely to be named the new head of the division, two of them added, declining to be named as they are not authorized to speak to media. Hyundai is battling a plunge in sales, profits and its share price, and the reshuffle would be the latest since it promoted Euisun Chung in September to executive vice chairman, moving him closer to succeeding his octogenarian father as head of South Korea's second-largest group.

  • Hyundai flags tough 2019 as US, China demand stays slow
    Reuters Videos

    Hyundai flags tough 2019 as US, China demand stays slow

    South Korea's Hyundai Motor Group flagged another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish. David Pollard reports.