Hyundai, Kia to boost overseas car sales this year

By Nam Kwang-sik
SEOUL, Jan. 2 (Yonhap) -- Hyunai Motor Co. and Kia Motors Corp. should put top
priority on boosting revenue by increasing overseas sales this year in an effort
to combat a global economic downturn, the companies' chairman said Friday.
South Korea's top carmaker Hyundai Motor and No. 2 player Kia Motors suffered
setbacks last year due to the global recession. The companies, which belong to
Hyundai Motor Group, had cut their 2008 sales targets by 12.5 percent and
suspended some production lines.
"To increase overseas sales is the only practical option (to survive) as the
global economic crisis is expected to worsen this year," Hyundai Motor Group
Chairman Chung Mong-koo said in a New Year's message.
To that end, the companies need to "preempt" overseas markets by quickly
developing and providing cars that meet the needs of overseas motorists, he
stressed.
Chung said the group will build a sales support system and sharpen its quality
competitiveness as part of efforts to increase sales.
Hyundai Motor and Kia Motors did not unveil their sales targets for this year due
to worries over continued global economic turbulence. The automakers usually
announce their annual sales targets at the beginning of the year.
The automakers estimated their combined global sales in 2008 reached 4.8 million
vehicles, compared with 3.96 million units the previous year.
ksnam@yna.co.kr
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