Hyundai Motor Group today announced executive appointments for the year 2024 as part of efforts to solidify sustainable growth and prepare for uncertainties in the global business environment. A key appointment sees Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group, Automotive Division, to advance value chain innovation in automotive business, optimize business operation, and maximize synergies between parties within the Group.
The appointments reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation,” Hyundai said in a unevenly translated version of the release. Continue reading
On Sale? New Vehicle Incentives Rise in October
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Kelley Blue Book data reported today shows that the average transaction price (ATP) for a new vehicle in the U.S. was $48,623 in October, up from September and higher than year-ago levels. Incentives increased again as many automakers try to clear their inventory. The electric vehicle ATP dropped month-over-month, but was higher year over year, with incentives at their highest level this year.
“’Tis the season for automakers to make their final push for 2024 sales,” said Cox Automotive Executive Analyst Erin Keating. “While some automakers focus on managing production, many will likely maintain or even increase their seasonal incentives to attract buyers. With competition intensifying, these strategies will be crucial in maintaining market share and driving end-of-year sales. Our team is generally optimistic for new-vehicle sales to close out the year – extra incentives will certainly help.” Continue reading →