Hyundai Motor's top executive has said the outlook for next year was "not bright".

Group chairman Chung Mong-koo told the heads of the automaker's overseas units growth in 2015 was constrained by a weak global economy, the economic slowdown in the world's second-largest auto market China and a decline in emerging market demand, Reuters reported.

"Considering many leading indicators, the outlook for next year's auto market is also not bright," he said.

Hyundai Motor posted its seventh-straight decline in quarterly profit in October.

Chung reportedly told the meeting the company must build on the launch of new eco-friendly vehicles and the introduction of its high-end Genesis brand.