The fall in the value of the pound since the EU referendum in 2016 has made imported goods more expensive for UK buyers.
Plantworx 2017 takes place next month, from 6thto 8th June, at the Bruntingthorpe Proving Ground in Leicestershire. Although this is only the third time that the biennial exhibition has taken place, it has already established itself as the UK’s leading trade fair for construction machinery. Hyundai has previously been an enthusiastic supporter and was one of the first to book stand space for the 2017 edition.
Hyundai UK & Ireland sales manager Rick Still said last year: “The show provides Hyundai the perfect platform to continue to grow the brand in the UK."
However a Hyundai spokesperson confirmed this week: “Hyundai has pulled out. Brexit and the exchange rate was the reason.”
Those keen to see Hyundai machines should head to the Molson stand. Molson is a Hyundai dealer and is being relied on to fly the flag for the Koreans at Plantworx. The Hyundai spokesperson added: “Molson will be demonstrating the Hyundai brand – so they still have a presence – just not a huge stand.”
Hyundai has already invested €30m on new premises in Belgium that are set to open later this year.