South Korean auto makers Hyundai Motor Co and Kia Motors Corp are bracing for their most sluggish growth in annual sales since 2003 as the weakening of the yen fuels exports from Japanese rivals. Hyundai and its affiliate Kia, together ranked fifth in global car sales, aim to boost global sales by 4 percent this year to a combined 7.86 million vehicles, the pair said in regulatory filings on Thursday. It's a fresh challenge for Hyundai chairman Chung Mong-koo as the company shakes up United States management amid a fall in market share there, while German rivals encroach on its once-impregnable domestic stronghold. At their growth peak in 2010, Hyundai and Kia's annual sales climbed 24 percent as the weaker Korean won allowed them to offer stylish, feature-loaded new cars at affordable prices.
via Business News - Yahoo Finance http://finance.yahoo.com/news/hyundai-kia-see-weakest-annual-001310711.html
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