Hyundai is adapting its business model as more and more Americans are buying small more fuel efficient vehicles. This is not suprising as we are seeing more and more auto companies having to shift their business models in the wake of the recession and rising gas prices.
Hyundai Motor Group said on Tuesday the world’s No. 6 auto maker plans to produce small sedans at a U.S. plant being built by subsidiary Kia Motors Corp, as record-breaking oil prices spur more demand for such cars.
Hyundai Motor Co, the group’s main automaking subsidiary, produces the Sonata mid-sized sedan and the Santa Fe sport utility vehicle (SUV) in the United States at its Alabama factory.
Source: Ground Report