Hyundai is targeting a 7.8 percent rise in Western European car sales this year, despite a forecast fall in sales. The company wants to sell 275,000 cars for a market share of 1.8 percent.
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A US sales target of 464,000 has been set and Hyundai plans to export a total of one million cars in 2002, up from 887,000 last year.
Export sales were strongest in the US, where sales increased 26 percent, and India where the company, with volume nudging the 100,000 mark last year, is now second only to Suzuki-affiliated Maruti.
Hyundai sold 1.6 million cars worldwide in 2001, an increase of 4.7 percent, and increased profits 75 percent to $US900 million.
Korean home market sales of 707,000 were up nine percent in 2001.
Hyundai is about to announce the location of its first US assembly plant (it had a plant in Canada for a time) and will today give the go-ahead for the 50 million euro construction of a new European headquarters, including comprehensive research and development facilities, at Russelsheim in northern Germany, home of GM#;s Opel unit. The new Hyundai facility will employ some 300 engineers and designers alone.
The Korean company also recently started building a new design centre and test track in the US.
