Hyundai Motors chairman says 2016 not very good for auto industry; to unveil electric car ‘Ioniq’ in January

Many in the automobile industry may be keeping modest expectations about the upcoming new-year 2016. But Hyundai Motor Group Chairman Chung Mong-koo did the "plain speak" and said year 2016 will be a challenging year. The boss of the world's fifth-largest automaker said the next year is “not bright” for the global auto market.

Mong-koo was addressing the heads of the automaker's overseas units and said growth in 2015 has been dampened by a weak global economy, economic slowdown in China and a decline in demand from emerging economies. In a strategic note, Chung told the meeting that his company would build more growth on the launch of new eco-friendly vehicles and would push the high-end Genesis brand.

“Considering many leading indicators, the outlook for next year's auto market is also not bright,” he said. His remarks, first reported in the press, were later confirmed by a company spokeswoman, Reuters reported.

In October, Hyundai Motor along with its sister company Kia Motors Corp posted the seventh-consecutive decline in quarterly profit and that adds more caution to the car maker.

Electric car Ioniq

Meanwhile, Hyundai will be launching its electric vehicle, Ioniq, in January. In the recently released sketches, Hyundai has created the buzz around the new car by showcasing its cute exterior and interior parts.

In January, the world premiere of Hyundai Ioniq will be taking place in South Korea. That will be followed by its exposition at the Geneva Motor Show in March and later at the New York Auto Show. The unique name of the car was derived from a combination of the word ion, which means electrically charged atom and Hyundai’s own drive towards low-emission vehicle models.

According to a report in the Business Standard, Ioniq’s exterior offers a pleasant design with fastback rear end and interiors have a neat dashboard of minimal layout. They are clutter-free and the control switches are looking nice. Ioniq comes in three power-trains -- full electric, plug-in gasoline/electric hybrid and gasoline/electric hybrid.

Feature-rich car

The Ioniq will be the first car from Hyundai to offer a vast power-train and stands out with its signature design elements. They include the hexagonal grille blending into the distinctive head-lamps and integrating ably with the C-position lights, adds the report.

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