Hyundai predicts an increase in sales this year despite the weakening market

Posted on Wednesday, 2 January 2008 , 18:01:39 byEmil

Filed under hyundaipredictincreasesale2008growriseHyundai

Hyundai predicts an increase in sales this year despite the weakening market

Despite the downturn in the car industry expected in 2008, Hyundai is predicting a double digit rise in sales fir this year. So, Hyundai thinks it can achieve the sales increase — despite a bad forecast for this year — with an expansion of overseas production and a better marketing tactic.

According to Hyundai, the carmaker plans to sell 3.11 million cars globally in the present year, a 19.6% rise over 2007. And if Hyundai reaches its goal this year, it will make $49 billion in revenue — with 12.2% more than the previous year.

"We must maximize our sales and marketing efforts in order to get closer to our customers, to grow the brand and improve profitability" said Chung Mong-koo – Hyundai Chairman.

According to The Detroit New, the 2007 sales for Hyundai were up 4.1% — with a total of 2.6 million autos.

Hyundai`s Kia brand name is expecting also a big 2008, with sales predicted at 1.7 million units — meaning a 24% increase from the previous year.