Output of Hyundai, Kia cars in Russia tops half-million units

Hyundai Motor Group, the world's fifth-largest carmaker, said Friday its cumulative auto production in Russia has exceeded 500,000 vehicles. The milestone on Thursday came more than two years after Hyundai's flagship unit, Hyundai Motor Co., began to roll out two models -- Solaris and New Rio compacts -- in its assembly plant in Saint Petersburg. Hyundai builds Kia Motors' New Rio in the plant as the Hyundai's smaller sister company does not have its own plant in the Eurasian country. Hyundai said it plans to boost its annual production capacity to 230,000 units, compared with 150,000 units in 2010. Hyundai and Kia have sold 89,466 units and 94,870 units, respectively, in Russia in the first half of this year. The combined market share of Hyundai and Kia grew to reach 13.8 percent in Russia during the cited period, from the 12.7 percent logged in 2012. In Seoul, Hyundai announced its plan to set up its sales arm in Mexico early next year as part of its efforts to boost it sales in the Latin American country. Hyundai officials said they had no immediate data on sales of their vehicles in Mexico.