+ Publier publicitaire GRATUIT !
Stats d'annonce: Dernier 24h - 72, actuel - 1142, total - 85067

Hyundai Humbled as Investors Abandon Auto Industry's Darling

7 Juin 2015 - Automotive News

Hyundai Humbled as Investors Abandon Auto Industry's Darling

A year ago, Hyundai Motor Co. analysts were predicting the stock would be breaking record highs by about now.

They were wrong. Shares of South Korea’s largest carmaker tumbled 10% on Tuesday to their lowest close since August 2010, making Hyundai the worst-performing stock among any major automaker in the past year.

It’s been a sobering 12 months for a company that until a few years ago was posting record profits and rattling larger competitors such as Volkswagen AG. Today, the automaker is facing headwinds as foreign brands catch on in Korea and unfavorable exchange rates undermine Hyundai’s ability to compete against the likes of Toyota Motor Corp.

“It’s hard to see any short-term fix to Hyundai’s problems at this point,” Lee Suc Won, head of equities at HI Asset Management Co., which oversees about $11 billion including Hyundai Motor shares, said by phone in Seoul. “I’m holding partmakers on top of a very small Hyundai stake, but think I may need to review that.”

The latest development that spooked investors came Monday, when Hyundai announced that domestic and overseas sales in May declined for a second consecutive month. Local deliveries fell 8.2%, while overseas sales dropped 6.1%.

Hyundai’s offer of interest-free loans, a tactic it last used during the Asian financial crisis almost two decades ago, wasn’t enough to entice buyers at home. Its sales have declined this year in China, the company’s biggest market, while gains in the U.S. have come on the back of an increase in incentives.

Sedan-heavy lineup

One reason could be that the automaker offers more sedans than SUVs, which have gained popularity in an increasing number of markets, including China. Hyundai offers 10 sedans in South Korea including four in the premium category, while the SUV lineup in the country consists of four models.

None of Hyundai’s vehicles ranked among China’s 10 best-selling SUVs in the first quarter. In April, Hyundai showed a version of its revamped Tucson SUV at the Shanghai auto show that it plans to introduce in China this year. And on Tuesday the company said it will introduce its new Creta SUV in India in the second half.

These steps haven’t encouraged investors. The automaker’s shares have dropped 18% this year, in contrast to the 8.5% gain in the key Kospi index.

A year ago, 48 analysts tracking the company had a 12-month target price of more than 300,000 won, according to data compiled by Bloomberg. Their current price target is 207,868 won. The stock closed at 138,500 won today.

Corporate governance

The automaker faced calls from investors last year to improve corporate governance after a real estate purchase for three times the property’s assessed value sparked a rout in the stock. Hyundai and its two affiliates, Kia Motors Corp. and Hyundai Mobis Co., in September won a bid to purchase a land site in Seoul for 10.6 trillion won ($9.5 billion).

In April, the company said it will set up an independent committee within the board of directors to improve decision-making by reflecting minority shareholders’ rights.

Hyundai will continue to “face some difficulties in a very competitive environment especially with a weaker yen and euro,” the company said in an e-mailed response to questions. “With major product launches such as the Tucson and Elantra later this year, we are confident that we can overcome these difficulties.”

The carmaker will probably post its sixth straight quarter of profit decline in the three months ending June 30, according to the average of 23 analysts’ estimates compiled by Bloomberg.

The currency will also weigh on its earnings. A stronger won, which gained about 12% against the yen in the past 12 months, has given its Japanese rivals a competitive edge as they can cut prices without affecting revenue when it’s converted into their home currency.

The currency environment “isn’t favorable,” said Lee Jin Woo, a Seoul-based money manager at KTB Asset Management Co. “I may have to further trim holdings in Hyundai and its parts makers.”

Nouvelles par Tags

2011 models2012 models3D printing458 italia6-series coupeA1A2abc motorsabu dhabiaccidentaccidentsaccordACIMacuraadvertisingafricaAIairbagairbagsairbusairportalcotestalfaalfa romeoalgeriaalibabaalpineamazonamphibiousandroidAnil Bachooappappleappointmentsappsapriliaarabiaargentinaarielarnold schwarzeneggerArtashok leylandasiaastonaston martinauctionaudiaustraliaaustriaautoauto industryauto shanghaiauto showautonomous carautonomus carAutopilotaventadorawardsAxessBagatellebahrain grand prixBAIBaie-du-TombeaubajajBambousBangkok International Motor ShowBangkok Motor ShowBangladeshbatmobilebatterybattlebeachbeachesBeau-BassinBeaux SongesBeaux-SongesbeetleBeijing Motor ShowBelgiumBell-Villagebentleybernie ecclestonebetamaxbetamax casebicyclebicyclesbikebikesbiodieselBlue-BaybmwboatboatsBogota Auto ShowBois-Marchand accidentBologna Motor ShowbondboschBPObrabusbrakesbrazilbribebribesbridgestonebriobudgetbugattiBugatti ChironbuggybuickburnoutbusbusesbuyingbydcadillaccalebassescamaroCamp-ChapelonCanadacarcar buying tipscar dealerscar importcar marketcar rentcar rentalcar salescar servicecar sharingcar showcar theftcar washcarbon fiberCarPlaycarscartingCaudanCCIDCCTVCEBcelebretiescelebritiesCESChamp de MarsChamp-de-MarsChengdu Motor ShowcherychevroletChicago Auto ShowchinaCHINESE GRAND PRIXChris Evanschryslercitroencivicclassicclassic carsclassicscommercialcomparisonconceptconceptsconsumer reportsconvertiblecoromandelcorruptioncorvetteCourtCourtsCPBcr-vcrashcrash testcrash testscrossovercrowdfundingCubaCurepipecustom carCUVCWAdaciadaihatsudaimlerdakardartzdash camdashcamdatsunDelhi Auto ExpodeloreandesignDetroitDetroit Auto Showdieseldiesel scandalDIYDLCdodgeDPPdragdrag battledrag racedrag racingdriftdriftingdriver licensedriverless cardrivingdriving licensedriving schooldriving schoolsdriving testdriving tipsdronedronesdrugsdrunk drivingdsDubaiDubai Motor ShowducatiearthquakeEbayebeneecoecologyeconomyelectricelon muskengen motor showengineenginesEOCethanoletios livaEUEuropeeveventsexpofacebookfakeFast And FuriousFernando AlonsoferrariferryfiatfiestafilmsfinancesfinefinesfinlandFirefiskerfitness centerFlacqFlic-en-FlacFloodsflying carFond-du-SacFootballForbachForbach accidentforce indiafordFord mustangformula1forza motorsportFrancefrankfurtfrankfurt motor showfraudFSCfuelfuel economy scandalfuel pricefuel stationfuel stationsfunnyfutureGaikindo Indonesia International Auto ShowGaikindo Indonesia International Motor ShowgamesgeargeelygenesisGeneva Auto Showgeneva motor showGermanygirlsgmgodzillagolfGoodlandsgoodwoodgooglegoogle glassGoProgovernmentgpsgran turismogrand tourgrand-baiegreat wallgreecegreengreen energygrnoGRSE accidentGTAGymkhanahackershakershamannharley-davidsonHatchbackhealthcarehellcatHennesseyherohistoryhitachiholdenHollandHollywoodhondahonda civichonda cr-vhonda jazzHong Konghorsepower falsifyinghospitalshot wheelshotelhotelshoverbikehoverboardhow toHuayrahummerhumorhurricaneHusqvarnahybridhydrogenhyundaiHyundai i20Hyundai Velosteri3i40ICACiframacIIHSillegal racingillegal taxiillegal transportIMCimportindiaIndian MotorcycleIndian OilindicaIndonesiaIndonesia International Motor Showindonesia motor showinfinitiInfinityinfrastructureinsuranceintelinteriorinteriorsiPadiphoneiranirelandIRPisraelisuzuIsuzu D-maxitaliaItalyjaguarjamesjames bondJames Mayjapanjapaneese carsjapanese carjapanese carsJapanese Grand PrixjazzJDMjeepJeremy ClarksonjettaJin Feijobskartkawasakikei carken blockKenyakhankiaKia StingerKoenigseggkoreaKoshik ReesaulKTMLALA Auto ShowLa MarieLa VigieLallmatielamborghiniLamborghini Uruslancialandland cruiserland roverLarsen & ToubrolawsLe Morneleallegolewis hamiltonlexuslicenselight metrolimousineLionel Messilotuslow cost carLRTluxuryluxury carluxury carsm3macondemad maxMadagascarMahebourgmahindramaintenancemalaysiamanmapsMare d’Albertmarketmarketingmartinmarutimaruti suzukiMaruti SwiftmaseratiMatt LeBlancMauritiansmauritiusmaybachmazdamazda3McLarenmecedesmercedesmetroMetro Expressmexicomichael schumacherMicrosoftMidlandsminimitsubishiMitsubishi TritonmitsubushiMMMMokamonacomonaco grand prixMont-ChoisyMontebello accidentmontereymoparMoroccomotomotormotor showMotor vehicle test centremotorcyclemotorcyclesmotorsportmotorsportsmotosportmoviesmpvMRAmugenmuscle carMusicmustangmv agustaMVDANADA Auto ShowNandanee Soornacknanonascarnavigation systemnavigation systemsNavin RamgoolamNCGNDUNepalnetherlandsnew carnew york auto shownew zealandnfsNHTSANigerianissanissanNissan LeafnorwayNouvelle-FranceNTANTCNurburgringoff-roadoffroadOlympic Gamesopelpaganipagani huayraPaillesPakistanPamplemoussespanasonicParisparis motor showparkingparliamentPebble Beachpenaltiespenalty pointsPereyberepermis de conduirePetite-RivièrepeugeotPhilippinesPhoenixpickuppickupspininfarinapirelliPitonPlaine-LauzunplayboyPNQPointe-aux-SablespolandpolarispolicepoliticspollutionPomponettepontiacporscheporsheportPort LouisPort-LouisPPCPPPprankpricepricespriusproguardprotestsprotonPSApublic transportpublict transportQ3qorosQuartier-Militairequatre-bornesr8Raceracingrallyramrangerange roverratingsRDArecallrecallsrecordrecordsred bullreduitrenaultrenderingrent a carrepairreplicaReunionRezvaniRHTRiambelRichard DuvalRichard HammondRiche-TerrerickshawrimacRing RoadrioRiviere-du-Rempartroadroad accidentroad rules & regulationsroad safetyRoad Traffic ActRoad Traffic Amendment Actroadsroads safetyrobberyrobotrobotsroche-boisRodriguesrolls-royceromeoRose-HillroverRoyal EnfieldRRSRSUrumoursRussiasaabsafetysafety ratingssafety testsafety testsSaint-Pierresalesamsungsamusao paulo auto showSao Paulo Motor Showsaudisaudi arabiascamscandalscaniaschool busschool vanscooterscootersseatsecond hand carsecond hand carssecond hand cars importself driving carself-drivingself-driving carself-driving carsSEMASEMA showSeoul Motor Showservice stationsShanghaishanghai motor showshelbyShellshowsingaporeSingapore Grand PrixskodaSlovakiasmartSobrinho caseSohail Sesungkursolar energysoreze accidentsoulsound systemssouthsouth africasouth koreaspainspare partsspeed camerasspeed limitspeedingsportSportscarspy shotsssang yongSsangYongSt-JeanSt-Julienstar warsstartupstatisticsSTCstreet racingstrikestudysubaruSudhir SesungkursudySunshine AutosupecarssupercarssuprcarssurveySUVsuzukiSuzuki JimnySuzuki SwiftSuzuki XbeeSwedenswiftSwitzerlandTATaiwantakatatankTarisa Resorttatataxtax fraudtaxestaxiTBStechnlogytechnolgytechnologyTerre-RougeTerre-Rouge–Verdunteslatesla model stest driveteststhailandThailand International Motor ExpoThe Grand TourtheftThierry Henryticket pricetipstiresTMRSUtokyoTokyo Auto Salontokyo motor showtoptop geartoyotatoyota corollaToyota HiluxToyota Rushtoyota supratoystraffictrailertransformerstransporttrendstricksTriolettriumphTrou d’Eau DoucetrucktruckstsunamituningTurkeytvstyresUAEuberUBSukukraineunionsuomuralUSused carused car importused carsVacoasVacoas-Phoenixvanvarma caseVeer Luchoomunvehicle inspectionVehiclesvelostervenezuelaVictoria Bus StationVictoria stationvideoVienna Auto ShowvietnamVintagevintage carsVipervivo energyvolkswagenvolvovwwaymoWeatherwheelsWorldyachtyamahayariszagato
Vendez Votre Auto