Hyundai-Kia emerges as Top 5 OEM with 2010 sales of 5.7 M units; aims for 6.3 M units for 2011
Hyundai brand to go in new direction: "Modern Premium"
Hyundai-Kia Group shipped record 5.742 million units in 2010, an increase by 1.104 million units (23.8%) over the previous year. With this new record, the Group passed Ford (5.313 million units) and emerged as the world's fifth largest automaker (the first is Toyota (8.41 million units) followed by GM (8.38 million units), Renault-Nissan (7.28 million units) and VW (7.14 million units)).
Hyundai refreshed its non-consolidated results, not including its oversea subsidiaries, in the year ended December 2010. It posted sales of 36.8 trillion won (about 33 billion US$) and an operating profit of 3.2 trillion won (about 2.9 billion US$), up by 15.4% and 44.4%, respectively, over the previous year. Kia also set new highs in sales of 23.3 trillion won (about 21.1 billion US$) and an operating profit of 1.7 trillion won (1.5 billion US$) on a non-consolidated basis, up by 26.3% and 46.8% year-over-year, respectively.
Hyundai Group plans 2011 sales of a total of 6.33 million units- 3.9 million by Hyundai, and 2.43 million by Kia.