Hyundai Likely to Become World‘s 3rd Largest Automaker in 2011

Some experts are predicting Hyundai Motor Group may soon become world’s third largest automaker after Toyota, which is currently the number one automaker worldwide.

Hyundai outperformed Toyota in the global market for the first time in March this year as the Japanese automaker, Toyota, saw a 60-percent decrease, the lowest figure since 1988.

Before the earthquakes hit Japan, the Hyundai Kia Automotive Group was to initially sell a total of 6.3 million units in Korea and abroad this year, however, due to the earthquake in Japan, Toyota and Nissan are expected to decrease their sales drastically; Hyundai officials said their company may produce up to 7 million units because of it.

According to local sources, Toyota is likely to be lower its sales target from last year‘s 8.4 million to 6.5 million.

(아주경제 이수지 기자)

AJP