Autoblog

Hyundai reportedly shopping locations for third North American plant - in Mexico [UPDATE]

Noah Joseph — Wed, 18 Nov 2009 15:31:00 EST

Filed under: Plants/Manufacturing, Hyundai, Kia

Hyundai Veracruz - Click above for high-res image gallery

Hyundai is on a mission to expand its American market share. And so far, the going's been good for the Korean automaker, which has been taking the fight to its Japanese rivals with increasing ferocity. Now reports indicate that Hyundai-Kia is looking into building a third assembly plant in North America. Only it probably won't be in the United States - like its existing plant in Alabama and the one being built in Georgia - and it won't be in Canada either; sources say the third plant is likely to end up in Mexico.

The reports are apparently substantiated by the Mexican government, which is understandably keen to encourage foreign investment. If and when it goes online - it's targeted for 2013 - the plant could be capable of churning out 150,000 vehicles annually, helping Hyundai quadruple its North American output by 2013. The plant could be used to produce the Hyundai Accent and Kia Rio for North American consumption, but not the Veracruz crossover - which may prove a little confusing, considering that the location Hyundai's looking at is in Veracruz, Mexico.

UPDATE: Hyundai has released the following statement regarding a possible third plant in NA.

"The recent report of Hyundai Motor Co. planning an investment in a Mexican manufacturing subsidiary is completely groundless. Neither HMC nor its affiliates in the Hyundai-Kia Automotive Group have any plans to invest in manufacturing operations in Mexico at this time."

Gallery: 2007 Hyundai Veracruz

[Source: Inside Line]

Hyundai reportedly shopping locations for third North American plant - in Mexico [UPDATE] originally appeared on Autoblog on Wed, 18 Nov 2009 15:31:00 EST. Please see our terms for use of feeds.

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Hyundai-Kia overtakes Ford to become world's 4th largest automaker

Noah Joseph — Tue, 18 Aug 2009 13:20:00 EST

Filed under: Hyundai, Kia, South Korea

2009 Hyundai Genesis Coupe - Click above for high-res image gallery

If you were shocked by the news from around this time last year that the Hyundai-Kia Automotive Group had jumped up to 5th in the global standings of the world's largest car manufacturers, you'll be just as surprised by the latest sales figures that place the Korean automaker this year in the fourth slot, leapfrogging past Ford to slot in (significantly) underneath Volkswagen.

The figures come from the Automotive News Data Center, which places Hyundai-Kia's global sales for the first half of 2009 at 2,153,000 units, just edging out Ford's 2,145,000 units so far this year. Of course, these numbers count the Nissan-Renault Alliance as two separate units, with 1.5 million and 1.1 million units respectively, but if combined they'd knock Hyundai (as well as Ford) out of position with over 2.6 million units. After Toyota, General Motors, Volkswagen, Hyundai and Ford, French automaker PSA Peugeot-Citroen comes in sixth, just barely ahead of Honda, with Nissan in 8th, Suzuki in 9th and Renault rounding out the top ten. Check out Kia's official press release after the jump.

Gallery: 2010 Hyundai Genesis Coupe - First Drive

[Source: Kia]

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Hyundai-Kia overtakes Ford to become world's 4th largest automaker originally appeared on Autoblog on Tue, 18 Aug 2009 13:20:00 EST. Please see our terms for use of feeds.

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Hyundai-Kia pass Honda to become world's 5th largest automaker

Michael Harley — Fri, 04 Jul 2008 15:02:00 EST

Filed under: Car Buying, Plants/Manufacturing, Hyundai, Kia

Less than a decade ago, the Hyundai-Kia Automotive Group was ranked 11th in the world in total sales volume. According to the latest publishing of the Automotive News 2008 Global Data Book, the automaker has impressively passed Honda to take 5th position. To climb six positions in just eight years isn't a simple accomplishment as it required stepping over such global automakers as Fiat, Chrysler, PSA/Peugeot, Nissan, and Honda. Last year, Hyundai-Kia sold 3,961,629 automobiles worldwide (Hyundai sold 467,000, and Kia 305,473 in the United States alone). While they still have a long way before they reach 4th position currently held by Ford (global sales of 5,964,000 in 2007), their move into other markets as witnessed by the luxurious 2009 Hyundai Genesis and the group's favorable June automotive sales (even in a depressed market) demonstrate the increasing strength of the Korean automaker.

[Source: AutoIndustry]

Hyundai-Kia pass Honda to become world's 5th largest automaker originally appeared on Autoblog on Fri, 04 Jul 2008 15:02:00 EST. Please see our terms for use of feeds.

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Kia breaks ground in Georgia, rolls back sales target

Frank Filipponio — Fri, 20 Oct 2006 17:57:00 EST

Filed under: Plants/Manufacturing, Kia

We just talked about the fact that Kia and Hyundai were scaling back sales projections for 2006, now we are learning that production will be adjusted as well. After a series of high-level scandals and ensuing postponements, Kia Motors Corp. finally broke ground on its Georgia facility today. And at the company's official groundbreaking ceremony today, it announced some changes. Most important was the announcement about where the new vehicles produced at this plant will be headed.

While Kia had originally projected U.S. sales of 800,000 vehicles a year in 2010, they are now expecting sales to be closer to 650,000 units, according to Kia CEO Chung Eui Sun. Chung and his father, Hyundai-Kia Group Chairman Chung Mong Koo, participated in the ceremonial shovel lift at Kia's first U.S. plant today. The younger Chung said that the billion dollar plant will likely ship its excess production to Latin American markets, possibly including a new-to-Kia market, Mexico. Kia CEO Chung added that production had been tabbed to begin in September 2009, but November 2009 looks more likely now.

Len Hunt, Kia Motors America executive vice president and COO, pointed out that although Kia has only moved 222,000 so far this year, it hopes to reach 300,000: "It will be a bit of a stretch, but the 300,000 target would be psychologically important," Hunt said. "The dealers are really excited that Kia is investing in America, because that's what we're continually asking them to do. It says to them that we're here to stay."

[Source: Automotive News, sub req]

Kia breaks ground in Georgia, rolls back sales target originally appeared on Autoblog on Fri, 20 Oct 2006 17:57:00 EST. Please see our terms for use of feeds.

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