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Hyundai, Kia to meet 2016's 1.5% sales growth goal despite Q1 drop: chairman
[SEOUL] The chairman of Hyundai Motor and Kia Motors, Chung Mong-koo, said on Friday the affiliated South Korean automakers are on track to achieve their combined annual sales growth target despite a first-quarter drop of 6 percent.
Hyundai Motor and Kia Motors, which together rank fifth in global vehicle sales, are targeting a 1.5 per cent sales rise this year to 8.01 million vehicles, compared with the global industry's projected growth of 2.9 per cent.
In January-March, combined sales dropped to 1.81 million vehicles, hit by a lacklustre performance in China and other emerging markets.