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Inverstors News

Hyundai-Kia Targets 2.6 Million Units in 2002

2001.12.28 No. 109
Hyundai and Kia are aiming for a combined total sales volume of 2,640,000 units and revenues of 37 trillion Korean Won in 2002. With the end of the year expected to show total combined sales of just under 2.5 million units. The growth in 2002 is expected to come from increases in domestic and export sales of 1.18 million and 1.45 million units respectively. This year the totals are expected to reach 1.15 million and 1.34 million respectively. Total sales revenues this year is expected to amount to 35 trillion won. The 2002 targets represent increases of 6 per cent in sales volume and 5.2 per cent in revenue. The two companies will also be increasing research and development investment by 14 per cent compared to this year along with other investment areas. New models Both companies will launch all-new models during the next year, with Hyundai debuting its B-sector small car and Kia its Sorrento SUV. Both companies are also expecting to increase export sales of their larger cars. Additionally, continued activity in sports marketing - Hyundai is an official partner to the 2002 FIFA World CupTM Korea-Japan and Kia is the sponsor of the Australian tennis Open Championship - is intended to increase awareness and approval of the two brands around the world.
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