Hyundai Motor and its subsidiary Kia Motors expected their combined global sales to increase by 11.5% during 2021, to rebound from the lowest level in ten years in 2020 as the two companies missed their targets Annual for the sixth consecutive year.
According to CNBC Arabia, the two Korean companies said they expect combined sales for 2021 at 7.08 million cars, to rebound after a year ravaged by the impact of the Corona virus pandemic on the global economy.
and for the year 2020, the two companies announced a 13 percent drop in their combined global sales to 6.35 million cars, the lowest level since 5.74 million in 2010 and far below the combined target of the two companies set Last January, at 7.54 million.
Sales have been severely affected by the Coronavirus pandemic, in particular from the imposition of a renewed series of stay-at-home measures in recent months in several countries as part of efforts to stop the spread of Covid- 19.
Before the announcement, Hyundai Motor shares rose 9.9 percent to 211,000 won, the highest level since September, as investors strengthened their bets on developing electric cars this year. / p>
