Hyundai Invest $12.2 Billion in 2012
Hyundai Motor Group, the owner of Kia brand, announced that it will invest $12.2 billion this year in research and development as well as on improving its facilities. Hyundai announced last October that their target for 2012 was 7 million units, up from 6.5 million in 2011. They also estimate that their growth could have been even larger had it not been limited by their plants’ output, many of which are operating at or near their maximum capacity.
The company stated that almost US$4.4 billion are earmarked for its research department in order ‘to accelerate the development of eco-friendly and fuel-efficient vehicles’.
Hyundai and Kia are increasing their 2012 investment by 15.6 percent compared to 2011 in order to meet increased demand. Both carmakers have achieved record sales in the U.S. market, with dealers having just a 30-day supply of vehicles on December 1, which is the second lowest supply in the industry and less than half the industry average.
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