South Korea's leading car markers Hyundai Motor Co. and Kia Motors Corp. announced on Friday that it will put top priority on boosting revenue by increasing overseas sales this year to survive in the global economic recession.
"To increase overseas sales is the only practical option as the global economic crisis is expected to worsen this year," Hyundai Motor Group Chairman Chung Mong-koo said in a New Year's message.
Chung stressed that the two automakers need to "preempt" overseas markets by quickly developing and providing cars that meet the needs of foreign buyers.
Chung said that in an attempt to help the two companies to increase sale, the Hyundai Motor Group will build a sales support system and sharpen its quality competitiveness.
Hyundai Motor and Kia Motors, both belonging to Hyundai Motor Group, had cut their 2008 sales targets by 12.5 percent and suspended some production lines due to the global recession.
According to the estimation by the automakers, the total global sales in 2008 reached 4.8 million vehicles, down from 3.96 million units in the previous year.
Hyundai Motor and Kia Motors did not unveil their sales targets for this year, which they usually announce at the start of the year, as worries over continued global economic turbulence deepens.
(Xinhua News Agency January 2, 2009)
