Jose Munoz, who took office last month as the president of Hyundai Motor Company, has called for strengthening revenue. The aim is to shift focus from simply selling a large number of cars to increasing the sales proportion of high-value models to enhance the company's fundamentals.
According to Hyundai Motor Group on the 5th, Hyundai Motor Company's domestic business division recently instructed each regional headquarters to increase the sales of the Genesis brand, N brand, and large commercial vehicles such as buses and trucks. The luxury Genesis brand and high-performance N brand, along with large commercial vehicles, are the most expensive and profitable models in Hyundai Motor's entire lineup. Traditional volume models such as the Sonata and Avante have a mid-level profitability. Electric vehicles fall under a category of lower profitability due to high battery procurement expenses.
A Hyundai Motor representative noted, "Until now, domestic sales have focused on achieving sales volume targets. The instruction to concentrate on selling high-revenue models seems to signify an important strategic shift."
It has been reported that Hyundai Motor sales points nationwide have been working to boost sales by accelerating the delivery of Genesis vehicles since last month. Promotions for the N brand are also being strengthened. To commemorate the 10th anniversary of the N brand, Hyundai Motor will hold invitation events for overseas events such as the "2025 Nürburgring 24-hour endurance race" for purchasers of the Avante N and Ioniq 5 N, while also offering financial support options like N Finance installment plans, rentals, and leases.
Jose Munoz, who was appointed as Hyundai Motor's first foreign president in the corporate restructuring conducted last November, is regarded as a representative "sales expert" in the global automotive industry. Munoz was selected as No. 1 on the "2025 Automotive Trend Power List" by MotorTrend, an American automotive media outlet, on the 27th of last month, which noted his record of generating the highest sales and market share since he began serving as the head of Hyundai Motor's North American operations in 2019.
Munoz's emphasis on revenue appears to stem from rising uncertainties both domestically and internationally, making it likely that Hyundai Motor will face challenges. With U.S. President Donald Trump announcing plans to impose high tariffs on all imported goods, the company is at risk of disruptions to its exports. In accordance with the Trump administration's stance on reducing support and benefits for electric cars, sales of electric vehicles in the U.S. are also in a precarious situation.
In South Korea, competition is expected due to the entry of BYD, a Chinese electric vehicle manufacturer. Hyundai Motor is responding by significantly discounting its main electric cars, such as the Ioniq 5, as BYD enters the domestic market with low prices.
An official from the finished vehicle industry said, "Hyundai Motor recorded an 8.1% operating profit margin last year, but the margin fell to 6.1% in the fourth quarter. In order to achieve the target operating profit margin of 7-8% this year, strengthening revenue is urgently necessary."