SEOUL:
Hyundai
Motor and Kia Motors on Monday
raised their target for 2014 global sales to at least 8 million vehicles,
anticipating record-high China sales to offset slowing growth in the United States
and Europe.
The
South Korean automakers, which together rank fifth in global vehicles sales,
said in a statement the new sales target would represent an almost 6 per cent
increase from last year.
Sales
this year will also be boosted by higher numbers from India, Russia and Brazil,
the automakers added.
New
launches and more local manufacturing will help Hyundai and Kia sell more cars in China, the
world's biggest auto market, this year, said Suh Sung-moon, an analyst at Korea
Investment & Securities.
He
said Hyundai was likely
to miss its US sales target for this year on a weaker-than-expected reception
for its new Sonata sedan in its biggest market after China.
In
Europe, Hyundai expects
to see a sales recovery driven by its new i20 model, which will be launched
this month.
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