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Hyundai-Kia Forecast Slower Growth
Hyundai Motor Co. and its Kia Motors Corp. affiliate expect their combined sales to grow 2.5% to 8.2 million vehicles this year, marking the smallest expansion rate since 2006.
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Hyundai Motor Co. and its Kia Motors Corp. affiliate expect their combined sales to grow 2.5% to 8.2 million vehicles this year, marking the smallest expansion rate since 2006.
Both companies are already running at capacity, and neither plans to expand existing factories or add new ones this year. They also face stronger competition in high-volume markets.
Hyundai and Kia predict their sales will reach 5.05 million and 3.15 million, respectively, in 2015. Both companies plan to add capacity in China in 2016-2017 that will give them a combined 750,000 units of additional output in that country.
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