Autoblog:Report: Hyundai/Kia predict slower sales growth in 2012

Report: Hyundai/Kia predict slower sales growth in 2012

<p>Filed under: Hyundai, Kia, Earnings/Financials, South Korea</p><img alt="Hyundai-Kia boss Chung Mong-koo" src="[url]http://www.blogcdn.com/www.autoblog.com/media/2012/01/chung-mong-koo-hyundai-kia-afp.jpg" style="margin-top: 4px; margin-bottom: 4px; width: 628px; height: 431px; " />[/url]

Hyundai and Kia have experienced phenomenal growth over the past few years, even as the rest of the auto industry was embroiled in an ugly downturn. In fact, 2011 was a terrific year for the Korean automaker, as sales jumped by double digits globally.

But while Hyundai/Kia has been on fire of late, Reuters reports that company officials feel that 2012 isn't likely to return the same gains. The automaker is reportedly looking for a still-impressive six percent sales growth in 2012. One reason for the somewhat conservative expectations is that the automaker is stretched thin on capacity, and Hyundai Group Chairman Chung Mong-koo (above) wants to concentrate on quality.

The markets weren't all that impressed with the Hyundai Group's announcement. Hyundai stock dropped by .9 percent, while Kia shares shrunk by .3 percent. That's not good for the portfolio, but if Hyundai and Kia can manage to improve product quality, then both investors and car buyers should be plenty impressed.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;">Hyundai/Kia predict slower sales growth in 2012 originally appeared on Autoblog on Tue, 03 Jan 2012 11:01:00 EST. Please see our terms for use of feeds.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6>Permalink | Email this | Comments
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