Hyundai continues its juggernaut-like growth breaking one record after the other. In 2010, the South Korean carmaker not only replaced Toyota as Europe’s best-selling Asian brand and passed the 500,000 sales mark in the US for the first time since entering the market in 1986, but the company also posted record sales and impressive profits.
Not including affiliate Kia Motor's results, Hyundai alone recorded global sales of 3,612,487 units (domestic plants: 1,730,682, overseas plants: 1,881,805) in 2010, which represents a 16.3 percent increase from a year earlier.
Sales revenue rose 15.4 percent to 36.8 trillion won (US$ 33 billion) from a year earlier thanks to the introduction of new cars and an improved product mix, while operating profit also soared 44.4% to 3.2 trillion won (US$2.8 billion). Net profit increased 77.8 percent to 5.3 trillion won (US$4.8 billion).
South Korea's largest automaker has set even higher goals for 2011, stating that it plans to "reinforce its internal competitiveness" and achieve a global sales target of 3.9 million units.
As pointed out by a Carscoop reader in a previous post, Kia has released images of the domestic market version of its Picanto city car, which will be sold as the Morning in South Korea. From the looks of it, there won't be any notable differences between the local and European market specification Picanto, which will receive its world premiere at the Geneva Salon in the beginning of March. You can read our previous post for more details including the powertrain options here. For the high resolution image gallery and the official brochure of the KDM Morning, follow the jump below.
What started a few years back with the re-branding of Daewoo's portfolio to Chevrolets in select markets including Europe, is now being rolled out globally with the replacement of the nameplate in South Korea. From now on, all of the company’s new product introductions will be under the Chevrolet badge, while GM Daewoo Auto & Technology will change its company name to GM Korea Co. The Detroit automaker said the name change is expected to be completed by the end of the first quarter this year.
"This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations," said Mike Arcamone, President and CEO of GM Daewoo. “We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea."
GM noted that three Daewoo models including the Alpheon (a re-badged Buick LaCrosse) sedan and the Labo and Damas mini cars, will not carry the Chevrolet nameplate and will be marketed under independent brands.
Outside the U.S., Chevrolet is planning an aggressive vehicle launch plan this year with the introduction of eight new models including the Camaro, Orlando MPV, Aveo sub-compact, plus an unnamed new SUV model and a new premium midsize sedan.
The Detroit automaker said that GM Daewoo has "played a lead role" in the design, engineering and manufacturing of the Chevrolet Cruze global compact sedan, the new Chevrolet Spark global mini-car, and the new Chevrolet Aveo global small car, adding that currently one out of every four Chevrolet vehicles is manufactured in Korea.
“Chevrolet has enjoyed success in mature markets in North America and Europe, as well as in emerging markets in Asia Pacific, CIS countries, and Latin America,” said Arcamone. “We are confident our customers in Korea will embrace Chevrolet as well.”
Hyundai has been advertising the all-new generation of its Grandeur for quite some time now, but today, the automaker officially launched the large sedan in its home market. The new Grandeur, which will be badged as the 2012 Azera in the States, arrives in the Korean market six years after its predecessor’s launch in May 2005.
Codenamed HG, the 2012 Grandeur is result of three-and-a-half years and 450 billion won (about US$415 million) of research, development and testing. Positioned between the Sonata and the Genesis sedan, the new Grandeur measures 4,910mm (193.3") long, 1,860mm (73.2") wide and 1,470mm (57.9") tall. It rides on a 2,845mm-long (112") wheelbase, which is 65mm (2.6") longer than the outgoing model.
The South Korean market model is offered with a choice of two gasoline engines, a 2.4-liter four-cylinder Theta II GDI with 201-horsepower and a new 3.0-liter V6 Lambda II GDI producing 270-horsepower. Both engines are linked to a standard six-speed automatic transmission that drives the front wheels.
The new Grandeur comes with a suite of safety systems including VDC (Vehicle Dynamic Control), VSM (Vehicle Stability Management), TPMS (Tire Pressure Monitoring System) and ESS (Emergency Stop Signal), plus a standard nine-airbag system that includes a driver’s knee airbag.
Other notable features include Hyundai's Advanced Smart Cruise Control, which automatically keeps a safe distance from a car ahead and provides automatic stop and restart functions in response to traffic flow, and a Smart Parking Assist System that utilizes a sensor to measure parallel parking spaces, controlling the steering wheel to semi-automatically park the car.
Hyundai said it aims to sell 100,000 units of the Grandeur this year (80,000 in the domestic market and 20,000 outside of Korea) and 120,000 units in 2012 when the car arrives in more markets.
The South Korean automaker has not yet provided details on the North American market Azera.
Along with some new photos, Hyundai also released a video showing the evolution of the Grandeur / Azera from the presentation of the first generation in 1986 to the current fifth gen model.
