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SOUTH KOREA: Hyundai sees growth in Latin America

By just-auto.com editorial team | 11 September 2008

Hyundai Motor saw a big jump in sales in the Latin American region in the first half of this year, according to industry data. The region is still less significant to Hyundai than others, but is growing fast.

The Korea Herald reported that the company's sales in Latin America rose nearly 70% to 670 billion won in the first half of the year, making the region its fastest growth market.

Overall, it sold vehicles worth 8.1 trillion won overseas in the first half, up 22.3% from the same period last year.

Europe accounted for 31.1% of the company's overseas sales, or 2.5 trillion won, followed by North America at 24.2%, or 1.9 trillion won and the Middle East/Africa at 20.3%, or 1.1 trillion won.

"As Latin American economies grow quickly, demand for our vehicles is also growing. Also, our efforts to penetrate into new markets and strengthen sales networks there appear to have paid off," a Hyundai official told the newspaper.