6th January, 2011
Hyundai has kicked off the New Year with great optimism, stating that it aims to have another record year in 2011, bolstered by a 24 per cent increase in sales last year. 
Chairman Chung Mong-Koo said in a New Year statement that Hyundai Motors and its affiliate Kia Motors saw their combined sales rise 24 per cent from a year earlier to 5.75 million units in 2010.
He said his group would try to produce and sell a record 6.33 million units this year. “With the invincible spirit and belief that we can do it, we will achieve the goal of producing 6.33 million units without problems,†he said, promising strong competitiveness in technology and price.
Hyundai Motor and Kia together form the world’s fifth-largest car making group by sales, with an increasing presence in world’s major automobile markets including the United States and Nigeria.
It is no secret that Hyundai is really going places on the global sales charts, the Korean car giant having pretty much proven that it can now make products that compete with the mainstream and more. Now it seems that Hyundai wants to rival the very best. According to the Wall Street Journal, Hyundai is considering turning its Genesis nameplate into a fully-fledged sub-brand that will compete with Lexus and other premium badges.
Delving into these waters, it would naturally have to counter BMW, Mercedes-Benz and Audi as well as Nissan’s Infiniti division and Honda’s Acura sub-brand. Hyundai already has a solid basis to work from, with two rear-wheel drive sedans in the form of the 5 Series-sized Genesis and 7 Series-sized Equus, and the smaller Genesis coupe. Hyundai’s premium plans would stretch further than that, according to the carmaker. A BMW 3 Series rival would also be on the cards, as well as a crossover SUV to compete with the Lexus RX range.
