(LEAD) Hyundai Motor aims to sell 15.1 pct more vehicles in 2006
SEOUL, Jan. 10 (Yonhap) -- Hyundai Motor Co., South Korea's largest automaker, said Tuesday it is targeting sales of 15.1 percent more vehicles this year, driven by the introduction of new models at home and abroad.
Hyundai Motor aims to sell a total of 2.68 million vehicles this year, the company said in a presentation file to analysts.
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Hyundai Motor sees 2006 operating profit up 6 pct
Mon Jan 9, 2006 9:50 PM ET
SEOUL (Reuters) - Hyundai Motor Co. (005380.KS: Quote, Profile, Research), South Korea's top auto maker, said on Tuesday it was targetting a 6.3 percent increase in 2006 operating profit to 1.9 trillion won ($1.94 billion).
Analysts expect South Korea's auto industry to benefit from an anticipated recovery in the home market this year, but it also faces the negative impact of a soaring won currency on exports.
Hyundai expects to sell 15 percent more cars in 2006, but faced with foreign exchange risks the firm is seeking to raise output from its overseas plants.
The firm also forecast in a statement combined sales from its domestic and overseas plants would be 41.4 trillion won for next year, a slight downward revision from the 42 trillion won it announced last week.
It forecast revenue from the firm's domestic plants next year at 30 trillion won, 9.7 percent higher from its estimated 2005 sales.
Analysts surveyed by Reuters Estimates have forecast Hyundai will post 2.26 trillion won in net profit in 2005 and earn 2.65 trillion in 2006.
The firm traditionally reports much higher net profits than operating profits as earnings from its overseas plants are not included in the latter.
Hyundai said it also planned to raise its investment to 3.44 trillion won this year from 2.69 trillion won in 2005.
Shares in Hyundai Motor fell 1.26 percent to 93,800 won by 0205 GMT, compared with the wider market's 0.75 percent fall.
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