Hyundai Mobis Ups 2005 Sales Target
Hyundai MOBIS 2005/01/28프린트
Hyundai MOBIS 2005/01/28프린트
- Global Sales Estimated to Top $2.2 Billion
- Exports to Grow by 7.9% to $1.2 Billion, Sales in Korea to Reach W6.8 Trillion
Hyundai Mobis, the largest automobile parts manufacturer in South Korea, has set the goal of expanding its annual global turnover to $2.2 billion, up 47 percent from 2004, by utilizing a well-established global network.
CEO Park Jeong-in said in a Jan. 28 seminar in Seoul that a growing presence of Hyundai Motor and Kia Motors in overseas countries bodes well for its further advance on the global stage.
Park said Mobis will be able to top $1.2 billion in exports this year, up 7.9 percent from 2004. Its annual sales in Korea are also expected to grow by 5.7 percent to 6.8 trillion won.
Hyundai Mobis, the largest shareholder of Hyundai-Kia Automotive Group, provides parts for Korea’s two largest automakers. The firm has been establishing an overseas network to meet the growing needs for auto parts service for Korean cars.
Park said Mobis will be able to provide more modules for Hyundai and Kia models once the U.S. factory in Alabama begins operations in March and their sales in China improve.
The firm has set aside some 438.5 billion won for research and development activities. It plans to spend the money in setting up a module factory in Slovakia, supporting the development of new technologies and establishing more logistics offices at home and abroad.
"The year 2005 will be a remarkable year for us in developing into one of the top 10 auto parts manufacturers in the world", Park said in the seminar, attended by some 140 Mobis executives and employees.
"We should pool our wisdom to achieve the goal. We need to use more aggressive overseas marketing, work for better risk management and develop new business strategies to keep up with changes in the future", he said.
Hyundai Mobis will continue to expand its global marketing and service network in order to offer customized services to consumers.
In the module manufacturing business, the firm aims to surpass 4.15 trillion won in annual turnover at year's end, up 7.2 percent from 2004. Auto parts sales are expected to grow by 2.3 percent to 2.4 trillion won.
Mobis plans to expand investments in research and development (R&D) to invent new auto parts technologies. To that end, the firm will establish unmanned production lines at its plants and focus more on developing lighter parts and environment-friendly products. Through the process, the firm will be able to stand on its own feet in the development of key items that can lead the firm's future growth.
Also, Mobis will pay more attention in exporting modules and other value-added products rather than simple car parts, Park said.