Hyundai pulls out of Japanese market
Hyundai might be a hot brand in North America, but its weak sales in Japan have forced the company to officially begin plans to withdraw from the nearby Asian market.
Tomorrow, Hyundai will notify its 46 Japanese dealers of its plans to pull out of the market.
"If you're not a Gucci or a BMW, there are very few who prosper there," Hyundai spokesman Oles Gadacz told Automotive News. "Mass-market players have it very tough."
Import brands have long struggled in Japan thanks to high taxes and a climate that generally favors buying domestic brands. Hyundai has sold just 15,095 cars since entering the market in Japan.