April 27, 2024

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[THE INVESTOR] Hyundai Motor Group, which owns Hyundai Motor and Kia Motors, has set its sales target at 8.25 million vehicles this year, Chairman Chung Mong-koo said in his new year message to employees on Jan. 2.

The figure is up 1.5 percent from the 2016 target of 8.13 million. The Korean auto giant has yet to release its sales for 2016 but is widely expected to have failed to meet the target. 

“The auto industry is facing more uncertainties than ever due to an increasingly spreading trade protectionism and growing global competition, while the global economy continues to face a prolonged slump,” the chairman said in his message.

“Therefore, the group plans to ensure its future growth by actively responding to changes in external conditions,” he added.

Hyundai and Kia will launch more than 10 new refreshed vehicle models this year. Especially, they plan to unveil at least one all-new SUV model each.

(theinvestor@heraldcorp.com)