Hyundai, Kia aim to lift 2011 sales by 12%: Report

South Korea's Hyundai Motor and its affiliate Kia Motors aim to increase their combined annual sales by 12 percent to 6.4 million units next year, a local media reported on Monday.

Hyundai Motor Group chief Chung Mong-koo and heads of its overseas operations "tentatively decided" on the sales target during a meeting, the Korea Economic Daily reported, quoting an unnamed executive who participated in the meeting.

Hyundai Motor Group expects to sell 5.7 million cars this year, the report added.

Yang Seung-seok, CEO of Hyundai Motor, said on Monday that the automaker had not finalized its 2011 sales target, and said it may announce its sales target late this month.

"We have notified our suppliers of the range of our sales target, and we are waiting for answers from them," Yang told Reuters.

Hyundai together with its affiliate ranks as the world's fifth-biggest carmaker.