For those of you that are not aware of each link between automakers and automotive brands, Korea’s Hyundai Group owns the Hyundai and Kia brand.
The group together plans on increasing its market share in 2011 after already boosting sales in 2010. According to Hyundai, the group is expected to outperform its competitors and gain more market share this year while making its No.5 position in the world stronger than ever before.
The Korean company sold 5.75 million units in 2010 and has a target to sell 6.33 million cars in 2011, a 10 percent increase. In 2010, Hyundai sold 3.6 million cars, up 16 percent, and Kia shipped 2.1 million vehicles, up 40 percent.
Can Hyundai do it? If they bet on China, we don’t see why not.
– By: Omar Rana
Source: Automotive News (Subscription Required)