Hyundai and Kia Sell 7.1 Million Vehicles in 2012, Up 8 Percent, But Expect Slower Growth in 2013

In the year that just ended, Hyundai and its Kia affiliate delivered a combined 7.12 million vehicles worldwide, which represents an 8 percent growth over 2011, beating their initial annual target of 7 million units.

Hyundai, which released detailed results, sold a little over 4.4 million vehicles in 2012, up 8.6 percent from the previous year, while the brand’s December global sales were up 5.4 percent, at 391,152 vehicles.

Despite the positive results, the Korean group that ranks fifth in global car sales, is forecasting their slowest sales growth in seven years for 2013.

According to a Bloomberg News report, Chung Mong Koo, chairman of both Hyundai and Kia, told employees during a new year address in Seoul on Wednesday to brace for a “very difficult year” stating that the two companies are targeting a 4 percent increase in world sales this year for a combined total of 7.41 million vehicles.

That’s the slowest growth estimate for the Hyundai and Kia Group since 2006 when the two Korean automakers saw their sales shrink by 1.2 percent.

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