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SEOUL, KOREA- Hyundai Motor and Kia Motors are accelerating the speed of their overseas production. Based on judgment that it is difficult for them to find a new growth momentumin the domestic market where import cars are staging aggressive marketing activities, they are actively pursuing the strategy of expanding their overseas production.
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Friday, November 15th, 2013
According to industry sources on November 14, the overseas output volume of Hyundai Motorand Kia Motors reached 3.45 million units in the January-October period of this year, up 16 percent year on year. Hyundai Motor produced 2.42 million units overseas, up 18.7 percent from the same period last year, while Kia Motors marked an 11-percent growth in overseas production to 1.03 million units. If this trend continues toward the end of the year, their combined overseas production volume would exceed 4 million units this year.
If including the export volume of domestic assembly plants, their overseas sales stood at 5.32 million units in the first ten months of this year, and is expected to rise to about 6.4 million units by year’s end.
