Hyundai's sales gelled by 1.8 percent to $23.2 billion in 2003, while unit volume escalated by 7 percent over the same period to 1.98 million vehicles.
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| "Hyundai Motor recorded $10.5 billion worth of exports this year, up about 20 percent from last year." (Photo: Hyundai Auto Canada) |
"Hyundai Motor recorded $10.5 billion worth of exports this year, up about 20 percent from last year, thanks to brisk sales of high-value vehicles," stated Hyundai Chief Executive Kim Dong-jin in his year-end speech.
While growth in China accounted for a large percentage of the increase, with 52,000 units sold in 2003 and a goal of 140,000 units next year, North American sales are brisk despite what has been a bleak year for most competitive brands.
Feeling bullish, Hyundai stated in an earlier report that it expects at least a 10 percent increase in exports for 2004, due in part to its plan of introducing three new models during the year.
To further entrench itself into the North American economy Hyundai is in the process of building a plant in Alabama, where it will produce its Sonata midsize sedan and Santa Fe SUV.