Improving the quality of its vehicles will be a priority this year for Hyundai-Kia, chairman and CEO Chung Mong-Koo said in a note to Kia’s shareholders.
“The domestic and overseas markets will face turmoil this year due to the eurozone fiscal crisis and global economic recession. So we will enhance brand innovation by raising the quality of our vehicles,” he said.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“The group will concentrate more on its investment in developing new growth engines. More investment will be made to boost our R&D activities in the green cars and electronic control units.”
Kia has targeted global sales of 2.75m this year, up from 2.72m last year and wants to “sharpen its competitive edge” by concentrating on customer relations and improve the profitability of its business by improving efficiencies, said Kia Motors vice chairman Lee Hyung-keun.
