Hyundai aims for 7 million in sales

2012-01-02 08:43

South Korea’s Hyundai Motor Group aims to sell a record seven million cars worldwide this year by strengthening production and sales abroad to outpace competitors amid the global slowdown.

Group chairperson Chung Mong-koo, in a New Year’s message to employees, said the world’s car industry would see growth stagnate this year and competition intensify as the downturn cuts demand.

“We should lay the groundwork to become a global leading player by firming up management,” he said, calling for closer cooperation between its sales and production networks abroad.

Hyundai, South Korea’s largest car maker, and its smaller affiliate Kia together form the world’s fifth-largest carmaking group by sales.

The group sold 6.6 million cars worldwide last year, Chung said, adding its 30 overseas plants in nine countries, including new factories in Beijing and Brazil, would reach full capacity this year.

“We will continually expand investment ... to develop environmentally-friendly vehicles and secure latest technologies in electronics engineering,” he said.

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