Hyundai and Kia Aim to Sell 78 Mil. Cars Next Year

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Clik here to view. SEOUL, KOREA - Chung Mong-Koo, chairman of Hyundai Motor Group, said during a strategy meeting held at the headquarters building in Seoul’s Gangnam, “Next year is an important year when the global automobile market gets out of the financial crisis-caused recession and enters a phase of growth.”

The strategy meeting was attended by about 60 heads of the group’s overseas business units. Chung stressed, “We have to maintain the growth in sales next year, the year when we will release new strategic models in the global market.”

Hyundai Motor and Kia Motors set next year’s sales target at 78 million units, up more than 5 percent from this year’s target of 74.1 million.

According to the Korea Automotive Research Institute, the global automobile market is likely to grow by 4.1 percent compared to this year. The U.S. and Chinese markets will continue to grow, while the markets of Europe, India, and Russia, which stagnated this year, will likely to take an upturn next year.