Hyundai, Kia Expect To Beat 2013 Sales Goal

Hyundai Motor Company and affiliate Kia Motors are on pace to sell over 7.5 million cars globally this year, outpacing the 7.41 million units target that had been set earlier.

The increase came from brisk overseas sales that offset sluggish sales at home.

The numbers put Hyundai and Kia fifth in global sales, but they expect to see things tighten up somewhat in 2014.

That is down to the fact that Japanese and European automakers are speeding up their competition and growth is leveling out in the US and China.

European automakers are also expected to significantly boost sales in South Korea next year as part of a free trade deal. That is expected to cut into the numbers posted by Hyundai and Kia.

2013 Sales Figures

Hyundai and Kia reported that their combined global sales rose to 6.9 million unites, a 6% rise from the January to November period last year.

Overseas sales took an 8% jump during the same period, while domestic sales took a 3% hit.

Both companies have seen steady gains in emerging markets like China and Brazil, helping offset diminishing numbers in South Korea and the US where they have been somewhat hurt by aging models.

Hyundai has always had success with the Sonata midsize sedan, and plan on releasing a new version next year.

They are also putting high hopes on the next-generation Genesis luxury sedan, which will be launched in the USA early next year.

Kia, meanwhile, will come out with a brand-new Sedona minivan and an all-electric version of the Soul crossover.

We might also see some surprises in the form of concept cars too, but it will take the automakers a few years to bring those to the market.

Kia has already announced the 2+2 sports car concept for the 2014 Detroit Auto Show, while Hyundai has revealed it plans to unveil a hydrogen-powered small crossover vehicle, codenamed HED-9.