Report: Hyundai mulls second manufacturing plant in U.S.
With Alabama site running at capacity, automaker looks to capitalize on its market growth.
Automotive News is reporting that Hyundai is facing a supply-and-demand problem – too much demand, and not enough supply.
That may drive the Korean automaker to build a second manufacturing facility in the U.S. to meet the growing demand for Sonatas and Elantras in the U.S. market. Hyundai already has a manufacturing facility in Alabama that has grown up in the new Rust Bely of the mid-South, and company officials told Automotive News that a second plant may be needed to keep up with blossoming orders. "Our biggest problem for the next year is that we're not sure we're going to have enough product to meet demand," Dave Zuchowski, Hyundai's U.S. sales boss, told the Website. The site reports that the Montgomery, AL plant produced 300,500 vehicles in 2010, and already is at full capacity. It's running two 10-hour shifts five days a week and occasional weekend shifts.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey