Hyundai expecting their global revenue growth to more than double in 2007

South Korean automaker Hyundai has said in a statement that they expected global revenue growth to more than double in 2007.

The company is gaining from higher sales abroad and increase in sales of high-end models.

Hyundai however also reported a small fall in December 2006 car sales volume.

The company said that they expect revenue to jump by 13.5 percent to 42 trillion won. Hyundai this year also suffered from losses from labor unrest and stronger won currency.

Yong Dae-in, an auto analyst at Goodmorning Shinhan Securities spoke about Hyundai’s chances this year: “Hyundai is expected to accomplish the target as productions at home and abroad will be able to meet demand abroad.”

Choi Dae-sik, an analyst at CJ Investment Securities added: “There is no room for Hyundai’s sales to increase as Hyundai does not have a specific new model to boost sales and as consumer sentiment is still weak.”

Jake Jang, a Hyundai spokesman had this to say: “We will meet the target by growth in overseas sales as we plan to ship the Veracruz SUV to the U.S. in March and to launch the ‘FD’ in May. We also aim to increase sales at home with aggressive marketing although domestic consumption has not revived yet.”

Popularity: 6%