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Last Updated: Monday, 2 January 2006, 09:56 GMT
Hyundai expects strong sales rise
Hyundai vehicle launch
Hyundai has recently launched a number of new vehicles
Hyundai Motor Company expects both its Hyundai and Kia brands to enjoy strong sales growth in 2006, boosted by strong demand both at home and overseas.

The South Korean group predicts total sales of Hyundai models will rise 15.5% this year to 2.69 million cars, or 42 trillion won ($42bn; 24bn).

Kia sales are expected to jump 17% to 1.43 million cars or 21 trillion won.

Hyundai Motor Company is the world's seventh largest carmaker and aims to enter the top six by 2010.

Overseas investments

Sales of both Hyundai and Kia cars were up 14% in December.

The company is planning to invest 8.54 trillion won in overseas production in 2006, including new plants in China and eastern Europe.

Hyundai is the biggest car seller in South Korea and Kia the number two.

Analysts said both brands were benefiting from the nation's continuing economic recovery, together with a number of well-received new models.


SEE ALSO:
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16 Feb 05 |  Business


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