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Hyundai Names U.S. Chief Executive

South Korea’s Hyundai Motor Co. has named one of its longest-serving U.S. executives to head its Fountain Valley-based U.S. operations.

John Krafcik was named acting chief executive of Hyundai Motor America Inc., the largest automaker with operations in Orange County.

Hyundai traditionally appoints top managers in an acting capacity before making the positions permanent, according to a report in The Detroit News newspaper.

Krafcik, who joined Hyundai four years ago, replaces Jong Eun Kim who returns to South Korea after about a year in Fountain Valley.

Previously, Krafcik was vice president of product development and strategic planning for Hyundai Motor America. Before that, he worked at Ford Motor Co.

He takes the helm at a tough time for Hyundai. The automaker has held up better than others this year, though recently it has seen sales decline in line with the industry.

In October, Hyundai’s U.S. sales fell 30% from a year earlier to 20,820 vehicles.

For the year, Hyundai’s sales are down 8%, versus a 15% industry decline.

Despite a drop in sales, Hyundai is looking to grow market share in a tough auto market. Its share has gone from 2.9% to 3.1% this year.

Krafcik will be responsible for implementing the strategic direction and managing the U.S. subsidiary’s operations.

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