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Hyundai isn’t optimistic about 2016

Hyundai Motor Group chairman Chung Mong-koo has predicted a bleak outlook for the global car market next year, indicating that 2016 will be another tough year for the world's fifth largest automaker, agencies reported.

Speaking to heads of the company’s overseas units, Chung said growth in 2015 was hit by the weak global economy, the slowdown in China, the world's second largest car market, and decline in emerging market demand.

"Considering many leading indicators, the outlook for next year's auto market is also not bright," he said. Hyundai Motor Company posted its seventh straight decline in quarterly profit in October.
Chung reportedly told the gathering that the company must build on the launch of new eco-friendly vehicles and the rollout of its high-end Genesis brand.