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Korea¡¯s largest carmaker Hyundai Motor and its affiliate Kia Motors have unseated two Japanese car makers -- Honda and Nissan -- in production and sales volume to secure the world¡¯s No. 7 spot for two consecutive years, surpassing market expectations.
According to the American car magazine Automotive News Data Center, Hyundai and Kia produced 3.08 million and sold 3.04 million vehicles in 2003, ranking seventh behind PSA Peugeot-Citroën (with production of 3.30 million and sales of 3.28 million units).
This is the first time that combined sales and output of the two Korean carmakers topped the 3 million mark, making Hyundai¡¯s goal to push into the global top five by 2010 in securing 5 million vehicle production facilities around the world more attainable. In 2002, Hyundai and Kia manufactured 2.91 million and sold 2.93 million units.
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In the 2003 International Frankfurt Motor Show (IAA), Kia Motors displays its concept car KCV-III.
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Automotive News compiles and releases annual production and sales volume from global automakers.
The U.S. based General Motors maintained the top spot as the world's largest automaker, followed by Toyota, Ford Motors and Daimler Chrysler, the report said.
This number puts Hyundai¡¯s output 117,520 units ahead of Honda (whose production volume was 2.96 million) in 2003 and 77,976 units ahead of Nissan (whose sales recorded 2.96 million units). The Japanese media predicted that Honda and Nissan would have regained their superiority last year as the Korean automaker grappled with consumption chills at home.
Hyundai currently plans to drive up its sales volume to 3.46 million in 2004 (including 2.27 million for Hyundai and 1.19 million for Kia). Once Hyundai and Kia consolidated their world¡¯s 7th place position, the automaker plans to gear up for their long-term business strategy that includes boosting its global production capacity to 5 million units by 2010.
Kia Motors on May 13 signed a contract to build an auto plant in Yancheng City, in China's Jiangsu province, its second facility in China. The decision closely followed their other investment plans such as building a plant in Slovakia and Montgomery, Alabama.
Meanwhile, Hyundai has continuously made headways in its competitiveness as witnessed by a recent survey released by J. D. Power & Associates, in which Hyundai beat Toyota, Mercedes Benz, Audi and BMW to secure the 7th spot for the higher in initial quality.
Hyundai said ¡°The result that Hyundai beat Honda and Nissan for two consecutive years is strong evidence that we will get through the first barriers to become one of the the global top five, despite difficulties including prolonged weakness in the domestic consumption.¡± ¡°We will pay our utmost attentions on achieving our next goals.¡±
(englishnews@chosun.com )
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