SOUTH KOREA: Hyundai group overseas output tops domestic for first time
The group made over 2m vehicles at its overseas plants in Brazil, Russia, India and China (BRIC) last year, according to the Maeil Business Newspaper.
This came after Hyundai Motor completed construction of another plant in Brazil in the second half of 2012, allowing the group to have manufacturing locations in all four BRIC countries. As a result, the group's overseas production exceeded its domestic production for the first time.
Hyundai Motor manufactured 1.57m cars at its plants in BRICS and Kia Motors produced 435,459 cars at its plant in China between January and November last year, totaling over 2m million vehicles in output, the Korea Automobiles Manufacturers Association (KAMA) said.
This indicates the combined production of the two companies for the first 11 months last year passed 1.93m, their total output of the whole year, with 60% of their overseas output coming from their plants in BRICs, the newspaper said.
The operating ratios of the plants in BRICs are also high. The operating ratio of Hyundai Motor's plant in Russia was 112.7% between Q1 and Q3 while that of its plant in India was 99.8%, higher than the 98.7% of the domestic production sites.
Meanwhile, Hyundai's new plant in Brazil manufactured 17,000 vehicles in less than three months since it began operation in September to build the Brazilian hatchback HB20 model.
The group's output in foreign plants for the first 11 months last year exceeded its domestic output for the first time, buoyed by the good performance of its plants in BRICs.
Though the group is unlikely to significantly boost its overall production, overseas production is forecast to steadily rise and the company's third plant in China is set to be complete in 2014, the paper noted.
The old adage 'win on Sunday, sell on Monday' attributed to Ford's return to racing in the US in the early 1950s* has been given a new twist by Hyundai. The company doesn't want to be the world's bigg...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
Hyundai Motor has announced that its subsidiary, Hyundai Motor CIS, has provided more than 1,000 vehicles for use during the XXVII World Summer Universiade games in Kazan, Russia....
Kia's first sporty hatchback, the pro_cee'd GT, goes on sale next week but already the company's UK operation is clamouring for similar performance and styling upgrades to be applied to other models i...
According to JATO Dynamics, European new car sales slipped back into decline during May. Following a small 2.0% increase in April (versus April 2012), May ended with a 5.8% reduction in new car sales/...
Sales of utility vehicles, including Renault's popular low-cost Duster compact SUV, have been strong in an otherwise dismal year for the Indian auto industry where passenger car sales fell for the sev...
- THE WEEK THAT WAS: Driving for fun...
- ANALYSIS: Autonomous cars and interior design
- ANALYSIS: Will the XE work for Jaguar?
- COMMENT: Why the VW Touareg Hybrid had to die
- Jaguar's XE spearheads new industrial strategy
- UK car market has topped out - Vauxhall chief
- Bosch transport strategy: "Goes beyond the Hood"
- THAILAND/AUSTRALIA: Details of next Toyota Hilux
- Frankfurt IAA world debuts list updated
- VW autonomous braking slashes insurance claims
- Global vehicle lightweighting - technology, trends and the future
- Global light vehicle engine technologies market- forecasts to 2029
- Heavy Duty Trucks Market in Europe 2015-2019
- Global light vehicle OE connectivity market- forecasts to 2029
- Global light vehicle safety systems market- forecasts to 2029