By Rose Kim - Jan 2, 2012 7:00 AM GMT+0700
Hyundai Motor Co. (005380) and affiliate Kia Motors Corp. (000270), South Korea’s two largest automakers, aim to increase global sales by 6.1 percent this year by improving quality and the brand image.
The carmakers are targeting combined sales of 7 million vehicles, Chung Mong Koo, chairman of the two companies, said today in a speech to employees in Seoul. The companies sold an estimated 6.6 million units combined last year, exceeding their target of 6.33 million, Chung said.
Hyundai and Kia have boosted (005380) their global sales as Japanese rivals were hampered by a strong yen and suffered from production disruptions after the March quake and record flooding in Thailand.
To contact the reporter on this story: Rose Kim in Seoul at rkim76@bloomberg.net
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net
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