Hyundai, Kia see weakest annual car sales growth in ten years

SEOUL: 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% this year to a combined 7.86 million vehicles, the pair said in regulatory filings on Thursday. Growth will come from revamped versions of key models and increased production capacity in China.