Hyundai sees Russia auto market growth slowing in 2019

By John Mac, December 25, 2018

Hyundai intends to continue to keep its 10 percent market share in Russia a year ago also increase earnings to 190,000 automobiles from 180,000 in 2018.

Hyundai forecasts car sales in Russia will grow 5-6 percent in 2019, soon immediately after an estimated growth of 12.8 percentage this calendar year, the provider’s Russian operating director Alexei Kalitsev advised reporters.

South Korea-based car maker Hyundai Motor Co. expects increase from the Russian car current market to slow sharply next year, ” the head of its own Russian branch said on Monday.

Automakers have cautioned Russia’s want to increase value added tax in 2019 would hit car earnings, which have only started to recover from four decades of stagnation.