Hyundai-Kia Forecast Slower Growth
Hyundai Sonata
Kia Optima
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.
#economics
Hyundai Sonata
Kia Optima
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.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.