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.