Hyundai Kia Automotive Group Aims to Sell 7 Mil. Veh in 2012

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Hyundai Kia Automotive Group Aims to Sell 7 Mil. Veh in 2012

Postby azi malik on Wed Dec 07, 2011 10:11 am

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The Hyundai Kia Automotive Group aims to sell 7 million vehicles in the global market next year, up from this year's expected sales of around 6.6 million cars.
According to various media reports and sources from within the company, Korea's top automaker has targeted sales of some 4.3 million Hyundai automobiles and 2.7 million Kia vehicles, respectively.
Industry analysts forecast that Hyundai and Kia together will surpass their goal and sell an estimated 7.2 million vehicles in 2012, considering the continued growing trend of the group's global sales.
The world's fifth-largest auto seller posted an on-year growth rate of over 20 percent in 2010, and this year's growth rate is expected to exceed 15 percent.
From the beginning of January to the end of October this year, Hyundai and Kia sold roughly five.3 million vehicles, and the figure is expected to top 6.6 million by the end of this year.
Officials of the automotive group say that despite the backdrop of a sluggish global economy, the automaker will continue to log solid growth by focusing on sales in emerging markets.
Korea's free trade agreements with the European Union and the United States are also expected to contribute to the automaker's positive global sales next year.
If Hyundai and Kia achieve their sales goal of seven million vehicles next year, the Korean automotive group is expected to compete with Renault-Nissan for fourth place in the global market with respect to automobile sales.
The world's top three auto sellers, GM, Toyota, and Volkswagen, are forecast to sell some 8-million vehicles respectively next year.
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