Hyundai Motor Co, South Korea's top auto maker, said on Sunday it had cut its local sales target for this year by 6 percent as record-breaking oil prices are hitting consumer sentiment in Asia's fourth-largest economy.
But its affiliate Kia Motors Corp and the country's No 2 car maker said it had raised its domestic sales target by 11 percent, helped by the popularity of its fuel-efficient mini-car and new model launches.
Hyundai, which controls about half of the South Korea's car market, said in a statement that it aimed to sell 630,000 vehicles in the higher-margin domestic market, compared to its previous target of 670,000 units. The maker of Sonata sedan and the Santa Fe sport utility vehicle (SUV) sold a revised 625,275 vehicles last year in South Korea.
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