Seoul — South Korea’s largest automakers Hyundai Motor and its affiliate Kia have forecast sales of 8.25-million vehicles this year amid hopes that new factories will tap into emerging markets. The projected sales for 2017 mark a slight increase from the previous year’s target of 8.13-million, the Hyundai Motor group chairman Chung Mong-Koo said in a New Year e-mail message to employees on Monday. Hyundai, which along with Kia forms the world’s fifth-largest auto making group, has seen profits falling for years amid slowing demand in its key China market and a strong won that hurt its competitiveness overseas. The group missed its annual sales target for a second year in a row last year when major strikes by South Korean workers hit production. Hyundai-Kia jointly sold a little over 7 million units from January to November in 2016. But it hopes to turn things around with a new factory to open in Chongqing, China, and the launch of new vehicles. "We should strengthen production netwo...
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