Hyundai Motor forecasts 20% rise in Russia sales in 2012
MOSCOW. Sept 15 (Interfax) - Hyundai Motor, which began producing cars in St. Petersburg in January 2011, plans to sell 140,000 cars in Russia in 2011 and then up sales 20% in 2012, Pak Yong Gi, the company's product director, told Interfax.
"Hyundai Motor sales in Russia could reach 140,000 in 2011, with 60% of these assembled in Russia and in 2012 we expect 20% growth," he said.
The company is also considering expanding production in St. Petersburg, although no final decisions have been made. "The decision as to whether to produce a new model could take around a year and a half," he said.
Hyundai Motor sold 87,081 cars in Russia in 2010, up 17% on 2009, including around 7,000 cars that were assembled at TagAz.
Hyundai Motor raised its forecast for 2011 sales of the Russian assembled Solaris to 85,000, compared to the earlier forecast of 75,000 due to high demand.
Russia will produce 95,000 Solaris cars in 2011 and some of these will be sold in other CIS countries.
The Russian market could grow to 2.2 million cars and light commercial vehicles in 2011, Hyundai Motor predicts.
The Russian assembled Hyundai Solaris, sales of which began in January 2011, was the top selling foreign car in Russia for the fifth straight month in August and it managed to catch up with the Avtovaz Classic.
The Hyundai Motor plant in St. Petersburg plans to achieve projected capacity of 200,000 cars per year at the end of 2011. The plant produces the Kia Rio as well as the Hyundai Solaris.
