Hyundai Motor has said that it aims to produce 1.71m vehicles domestically this year, the largest ever annual production figure for the group.
The plan is 6 percent higher than 1.61 million units rolled out last year from Hyundai’s three production plants in Ulsan, Asan and Jeonju, according to the company.
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The company said it plans to achieve the goal by unveiling new models, enhancing efficiency through facility improvement and pursuing better labour-management relations.
Earlier his year the firm said it believes it can boost sales of its Hyundai and Kia brands by 17% globally in 2010 to 5.4m units from 4.63m in 2009.
Last year, Hyundai’s sales volume rose 10% to 3.1m vehicles, while Kia’s grew 9.3% to 1.53m.
Analysts noted that their ambitions could be thwarted by a stronger won – expected to rise 10% against the dollar in 2010 – and the ending of government-backed scrappage schemes.
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By GlobalDataHyundai and Kia based their forecast on new models due this year, economic recovery and above-average growth in countries like India and China where Hyundai and Kia aim to grow at twice the market rate this year in China and are planning to build a third car plant.
