South Korea’s Hyundai Motor Group flagged another year of tepid car sales growth on the back of a slow 2018, saying trade protectionism adds uncertainty and major markets such as the United States and China remained sluggish.

Axar.az reports citing Reuters.

In his first New Year address to employees, group heir apparent Euisun Chung said Hyundai Motor Co (005380.KS) and Kia Motors Corp (000270.KS) would complete a restructuring of South Korea’s second-biggest conglomerate, which is widely expected to pave the way for him to formally succeed his octogenarian father as head of the group.

The complicated succession plans come as Hyundai contends with a bunch of problems that have cost it market share in China and the United States and stalled its rise up the ranks of global automakers.