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|WASHINGTON Authentic Josh Doctson Jersey , Aug. 22 (Xinhua) -- South Korean auto giant Hyundai plans to launch a pickup truck and a small SUV in the U.S. to reverse its sales slide in one of its most important market, as American consumers drift away from sedans.
Michael J. O'Brien, vice president of corporate and product planning at Hyundai's U.S. unit, told Reuters Tuesday the South Korean auto manufacturer would develop a pickup similar to a concept vehicle named Santa Cruz unveiled at the 2015 Detroit Auto Show.
The U.S. is world's biggest market for pickups. Sales of pickups in the first seven months of 2017 are up 3.5 percent, while sales of cars declined 11.7 percent. Hyundai currently does not offer a pickup in the U.S. market.
Hyundai's U.S. sales are down almost 11 percent in the first seven months, with sales of its flagship sedan Sonata slipping 30 percent. Sales of SUVs, however, are up 11 percent in the same timeframe.
O'Brien said Hyundai also plans to launch a small SUV named Kona in the U.S. later this year. SUVs now account for about 30 percent of total vehicle sales in the U.S.
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CAIRO, Aug. 30 (Xinhua) -- Egypt is willing to furthercontribute to cooperation within the BRICS framework, EgyptianPresident Abdel-Fattah al-Sisi told Chinese media before his tripto China for a BRICS summit.
"Our participation in the meetings with the BRICS countries isof great importance, especially as Egypt enjoys promising economiccapabilities and provides an outstanding strategic location thatcan help it effectively support the BRICS community and itspriorities," Sisi said here in the recent interview.
Noting that the BRICS countries contribute about 22 percent ofthe gross world product and make up 40 percent of the world'spopulation, Sisi said that the group enjoys great political weighton the world stage, which gives importance to the upcoming BRICSsummit.
The group of emerging economies will meet on Sept. 3-5 insoutheastern Chinese city of Xiamen for the ninth summit of thebloc, which was first launched by Russia, China, India and Brazilin 2006 and expanded in 2010 to include South Africa.
The Egyptian president said he expects the summit to contributeto the further understanding of major issues concerning thedeveloping countries as well as the political, economic and socialchallenges facing them.
Sisi also expressed his great appreciation of Chinese PresidentXi Jinping for inviting him to attend the BRICS summit, "whichreflects the special bond between the two countries as well astheir strategic partnership."
His participation in the BRICS summit is an opportunity for thetwo sides to continue consultation and coordination on variousissues regarding mutual interests, the president said.
"The visit will also provide a good opportunity to follow up onthe joint projects of cooperation between the two countries invarious fields, taking into account the contribution of Chinesecompanies to several ongoing infrastructure projects in Egypt,including the new administrative capital project, electricity andenergy development projects and transportation," Sisi noted.
Meanwhile, the Egyptian president said that the convening of theBRICS Business Forum, a major side-event of the BRICS summit, is agood opportunity to present the Egyptian experience of economicreform and the bold steps taken recently by the Egyptiangovernment, highlighting the measures the government has taken toencourage investment.
Sisi stressed that the solidarity between developing countriesallows them to learn from each other and implement the best andmost appropriate plans for human development, productiondevelopment and economic progress.
As for the role of developing countries in global economicgovernance, Sisi said developing countries should play a largerrole in global economic governance, in accordance to their growingweight in the world economy.
Speaking about the Belt and Road Initiative, which China putforward in 2013 with an aim to revive the ancient Silk Road traderoutes, Sisi said Egypt's unique geographical position allows it tobe a major transit point between the East and the West, and fromthe south to the north through the Suez Canal axis, which iscurrently in the making to become a leading economic and industrialzone linking the world.
Shortly before his interview with the Chinese media, Sisi calleda meeting with Egyptian Prime Minister Sherif Ismail and cabinetministers to review the progress of ongoing cooperation projectswith China.
"The series of joint projects that the president reviewedreflected wide and multi-faceted cooperation between Egypt andChina," Presidential Spokesman Alaa Youssef said after the meeting,adding that all such projects and ventures indicate the continuousdevelopment of Egyptian-Chinese relations and the momentum of thebilateral relations over the past few years. Enditem
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