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Biz News Korea(Eng)
Hyundai, Kia set conservative sales target for 2018
- Collected
- 2018.01.02
- Distributed
- 2018.01.03
- Source
- Go Direct
이미지 확대Hyundai targets to sell 701,000 units at home and 3.974 million abroad and Kia 520,000 units locally and 2.355 million overseas, they said in separate disclosures on Tuesday. The two have not released official sales data for 2017, but the industry puts the number around 7.2 million to 7.3 million.
Last year’s performance would fall far short of its target of 8.25 million units set at the beginning of the year.
The two have set a much conservative sales target on concerns that they would continue to lose ground in the two major car markets in the United States and China. Instead of going aggressive against odds, the group plans to use the momentum to strengthen its future capacity, said a group official.
In his New Year’s address, group chairman Chung Mong-koo spoke of challenges on the external front amid protectionist moves in major markets and fiercer competition for future technologies. He emphasized readiness to stay ahead in the future mobility industry.
As of 10:36 a.m. Tuesday, shares of Hyundai Motor were 2.88 percent down from Dec. 28 close at 151,500 won ($142.07), and Kia Motors 2.24 percent down at 32,750 won.
By Lee Seung-hoon and Lee Ha-yeon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]