Hyundai, Kia aim to raise 2011 sales by 14%

Saturday, 6 November 2010 05:09 - - {{hitsCtrl.values.hits}}

(Reuters) - South Korea’s Hyundai Motor (005380.KS) and its affiliate Kia Motors (000270.KS) aim to increase their combined annual sales by 14 percent to 6.4 million units next year, media reported.

MoneyToday said that Hyundai Motor, the world’s fifth-biggest carmaker along with Kia, targets sales of 3.8 million units next year, while Kia aims to sell 2.6 million cars in 2011, citing a high-ranking official at Hyundai Motor Group and a document on the group’s 2011 production plan.

Hyundai Motor this year aims to sell 3.5 million cars, while Kia has set a target of nearly 2.1 million vehicles.

A Hyundai Motor Group spokesperson denied the report, saying the automaker has not finalised its 2011 business plan.