Hyundai Motor to exceed 2011 sales target

The Economic Times (Seoul) - The overseas sales chief of Hyundai Motor said on Thursday that he expected the firm to exceed its 2011 global sales target, saying it was on track to achieve its sales goals in the United States and Europe despite economic uncertainty. 

William Y.W. Lee, executive vice president and head of Hyundai Motor's Overseas Sales Division, told Reuters in an interview that he had "high expectations" Hyundai would post sales of 4 million vehicles globally this year, versus its previous target of 3.9 million.

He said the South Korean automaker expected to see sales volume growth slowing next year because of its stretched capacity, but reiterated that it had no capacity expansion plans.

"Our sales growth next year will fall short of this year's, but we will continue to grow sales next year," he said.

Lee also said he hoped to accelerate Europe sales next year to 480,000 vehicles, including 110,000 of its new i30 compact model, from 400,000 this year, though he added that the targets were not final.

Lee said Hyundai also expected continued sales growth in the United States and BRIC nations (Brazil, Russia, India and China) next year.