The number of cars for export produced in Hyundai Motor’s overseas plants is likely to exceed the number produced in domestic plants soon.
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According to chosun.com. Hyundai Motor, in its first-quarter sales report, said 273,821 of 558,565 vehicles, or 49% of the total number of cars sold overseas, were produced abroad, up 1.2 percentage points from the corresponding period last year, and up 3.4 points from last year’s figures.
From the second quarter, when new plants in China and India are expected to operate on a full scale, the number of vehicles produced and sold overseas is expected to surge ahead of the number of cars produced and exported in South Korea, the website said.
According to the business plan released by the company in January, Hyundai expects overseas sales of 2.44million cars this year, with 53.7% produced overseas. Hyundai has plants in China, India, Turkey, and the US.
When its plants in Czech Republic and Russia begin full operation by 2011, Hyundai Motor will be able to manufacture 2m vehicles annually overseas alone, chosun.com said.
