Hyundai Motor Co., Ltd. announced on Wednesday that it has allocated 600 billion won (approximately $653 million) over the past three years toward research and expansion initiatives. Of this investment, two-thirds has been directed toward the development of new commercial vehicle engines and system upgrades. The company is also projecting significant growth in its passenger car and truck sales, aiming for a 33% increase to reach 80,000 units by 2010, with a target of 100,000 vehicles by 2012.
This year, Hyundai expects to sell around 20,000 passenger cars and trucks. As part of its broader strategy, the company is targeting a 10% market share in Japan's premium passenger car segment. In addition, Hyundai's buses are priced 20% to 30% lower than their Japanese competitors, giving them a competitive edge in cost-sensitive markets. This pricing advantage, combined with ongoing investments in technology and product quality, positions Hyundai to strengthen its presence in both domestic and international markets. The company continues to focus on innovation and efficiency as key drivers for long-term growth and competitiveness.
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