Hyundai-Kia Expects Record Sales This Year

Hyundai Motor Co. and its Kia Motors Corp. affiliate predict their full-year combined sales will reach a record 8 million units this year.

The companies previously expected to reach 7.86 million sales in 2014 compared with 7.48 million in 2013. But they say volume will be higher, thanks to strong demand in Brazil, China and India, especially for SUVs.

But Chung Mong-koo, who chairs both companies, cautions that the global market "still does not look rosy." South Korea's strong won has made it more difficult for Hyundai and Kia to compete with carmakers in Japan, where a weak yen benefits exports.