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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

"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.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now