Hyundai Motor Group aiming at 16% growth in sales
January 2nd, 2006 Leave a comment Visited 47 times, 1 so far today
Hyundai Motor Group aiming at 16% growth in sales
South Korea based automotive giants Hyundai has announced that they are aiming to increase their worldwide sales by around 16% this year. This would include their subsidiaries like the KIA Motors Corporation as well. The company is already the South Korea’s biggest automaker and is also dominating other markets like India.
The company is aiming to sell close to around 4.12 million vehicles this year. They sold 3.54 million vehicles in the year 2005. The group is collectively targeting 2006 sales target of 100 trillion won ($99 billion) for Hyundai Motor, Kia Motors and other units. This is a growth rate of around 17.6% over last year figures.
In addition, Hyundai Motors has also revealed plans to invest more this year. They are aiming at investing close to 8.54 trillion won in 2006, 30 percent more than last year, to develop new technology and build new production machinery. The company also reported that they posted combined sales of 85 trillion won in 2005. This was an improvement of around 13.3 percent compared to 2004.
Hyundai also reported that they sold 3.54 million sedans, sports utility vehicles and other automobiles last year, up 11.9 percent from the year earlier.
|
TechWhack on Facebook
|
January 2nd, 2006 at 5:56 pm
Just now I was reading about the new year… where Rest Of Asia has a combined GDP greater than Japan. This century belongs to the rest of asia and South Korean companies know it very well. They have a very good focus on Indian market, they develop and tinker products according to local needs. Good pricing with good quality, not stellar quality. Companies wishing to expand in India need to understand that while Indian consumers reject poor quality products straightaway (if there’s alternate), the market winning proposition is an affordable price tag.
Kudos to Samsung, Hyundai!
June 21st, 2006 at 6:58 pm
[...] Hyundai cars to be expensive from next month Hyundai Motor India has confirmed in a statement that they would be hiking the prices of their cars by up to Rs 15,000 from early next month. [...]