Exports by Hyundai Motor Co.
(KSE:005380) and its affiliate Kia Motors Corp. (KSE:000270)--
South Korea's two major automakers -- exceeded the 2 million
unit mark for the first time last year on the back of brisk
overseas demand, industry data showed Tuesday.
Hyundai Motor, the country's leading automaker, exported 1,193,343 vehicles and its smaller affiliate Kia Motors 1,089,302 units to record combined overseas sales of 2,282,645 vehicles in 2011, up from 1,989,680 exported a year earlier, according to the data.
The two automakers' exports almost doubled over 10 years to surpass the landmark 2 million vehicles, the data showed. Combined, they exported 1,338,642 vehicles in 2001.
Of every 100 vehicles Hyundai and Kia produced in South Korea last year, 66 were exported, compared with 53.8 units per 100 in 2011.
Their global sales, including those by the marques' overseas operations, reached 5,414,735 vehicles last year.
"Improved competitiveness and brand image of our cars and timely releases of new vehicles drove the export increase," said a company official.
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