Hyundai Aims To Sell 7m Vehicles In 2012

Hyundai Motor announced recently that it is targeting to sell seven million vehicles worldwide this year, an increase of 6 per cent from 2011, in which it sold 6.6 million units globally, more than a million in the US alone.

The figure – which includes Kia numbers – is however conservative, considering that the company has been posting double-digit growth in annual sales volume over the last three years. It may be reflective of the company being wary of a global economic slowdown this year, the reports say.

While continuing its efforts to consolidate its position as the world’s No 5 automaker, the Korean automaker is shifting its focus from volume to quality, in a bid to ensure its growth isn’t thwarted. In recent times, the carmaker has improved its quality ratings in advanced nations, while solidifying its position in emerging countries, the reports add.

Meanwhile the group has set a record-high budget with its 2012 investment in two major sectors – facilities and research & development, saying its investment target for this year comes to 14.1 trillion won (S$15.5 billion), up 15.6 per cent from its 2011 investment. Of the 14.1 trillion won investment, 5.1 trillion won will be used for the R&D sector and the remaining 9 trillion won will be allocated to facilities development.

Following the sales of the Sonata hybrid and the K5 hybrid in 2011, the group is aiming to launch a variety of hybrid models this year. The group plans to carry out role-sharing between Hyundai Motor and its affiliate Kia Motors in developing eco-friendly cars. Hyundai Motor will take on developing models of “plug-in hybrids,” which utilize rechargeable batteries, and hydrogen-powered “fuel cell vehicles.” Kia Motors will mainly focus on “electric drive vehicles” which use electric motors or traction motors for propulsion.