2013 proved a very successful year for Hyundai Motor Co. and Kia Motors Corp, the makers of the Hyundai-Kia to believe that the year will close with more than 7.5 million vehicles, surpassing the target of 7.41 million sales (7.1 million sales in 2012). The car sales of both companies rose significantly in markets outside of South Korea, which this year has remained stagnant.
2014 will be a difficult year for South Korean companies, as European and Japanese companies have begun to compete with these products, the markets in the U.S. and China to show more moderate growth. The Chung Mong-koo, chairman of Hyundai Motor Group, is expected to announce the sales target for automakers in 2014 in a speech on Jan. 2.
