4th November, 2010
Hyundai Motor, the world’s fifth-biggest carmaker along with affiliate Kia Motors, said it aims to sell 500,000 new Accent compact cars next year in a bid to keep its sales momentum. In South Korea alone, Hyundai is targeting sales of 20,000 units of revamped Accent vehicles in 2011, the South Korean automaker said in a statement.
Shares of Hyundai on Monday hit a record high after third quarter earnings due to the company’s strong sales outlook. Hyundai, which plans to launch new Accent models at home this month and in Russia in January, plans to expand its sales to the U.S. and other regions next year.
Hyundai also plans to roll out other new models this year including new Grandeur sedan in South Korea and new Elantra compact and Equus sedan in the U.S, which will help the company continue to post robust earnings in the current quarter following a nearly 40 percent jump in net profit for the third quarter, analysts say. Hyundai’s strength in compact cars has helped mitigate the blow from slowing global car sales, as price-sensitive consumers favour affordable and fuel-efficient vehicles during difficult economic times.
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