Hyundai's overseas plants account for over 50 pct of sales abroad
19/8/2008 17:39
Hyundai Motor Co said that its oversea sales of vehicles produced in
overseas plants surpassed 50 percent of total sales abroad for the first time
during the first seven months of this year, the Korea Herald reported
today.
According to Hyundai, out of 1.302 million vehicles which the company
sold in overseas markets during January-July period, about 652,000 units were
made at its overseas plants, which accounts for 50.1 percent of the total
overseas sales and is up 4 percentage points from the same period last
year.
The company said that changes are mainly due to the fall in domestic
plants' output affected by summer vacations and partial strikes in
July.
Until June, the vehicles produced in South Korea accounted for more
than half of Hyundai Motor's overseas sales, it said.
The proportion of
vehicles produced outside South Korea has risen substantially as the company
made huge effort to increase its overseas production capacity in recent years.
As a result, the overseas sales by vehicles produced in overseas plant reached
45.6 percent last year, up from 18.8 percent in 2003, the company
said.
Hyundai Motor currently operates plants in China, India, Turkey and the
United States. Chinese and Indian plants both have an annual production capacity
of 600,000 units each, while that in Turkish and the US operations are 100,000
and 300,000 respectively.
Hyundai has two more plants under construction in
the Czech Republic and Russia, and by 2011 the combined annual production
capacity of Hyundai Motor's overseas operations will reach 2 million units, only
45,000 less than the production capacity of the company's three domestic
plants.
Xinhua
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