Hyundai - Kia Group Targeting a 10-Percent Increase in Sales for 2011

For the Hyundai Motor Group and its affiliate Kia Motors, the New Year brings a new sales target as the South Korea's largest automaker said on Monday it aims to sell 6.33 million cars in 2011, which represents a 10 percent increase over 2010 when the company sold a combined total of 5.75 million units. More specifically, Hyundai delivered 3.6 million cars (up 16 percent from 2009), while sold Kia 2.1 million vehicles
(+40 percent over 2009) worldwide last year.

"Hyundai Motor Group's 2011 target appears to be conservative and fully achievable," Tong Yang Securities analyst Ahn Sang-jun told Reuters.

"Sales growth will be slowing because of a high base effect during the 2009 downturn, but Hyundai will still gain a share in the market, which is expected to grow 7 percent this year led by China and the United States," Ahn Sang-jun added.

In order to achieve its goal, the South Korean automaker is planning to roll out a variety if new or refreshed products in 2011 including the Hyundai Veloster small coupe, Azera sedan (Grandeur in South Korea), the European-market i40 SW and Saloon, as well as the Kia Picanto and pro_cee'd facelift. Last year the two companies overhauled their vehicle lineups with an array of new products such as the 2011 Hyundai Sonata and Elantra, and Kia Sportage CUV and Optima saloon.

Source: Reuters Link