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HYUNDAI, GM READY FOR FIERCE COMPETITION IN EACH OTHER'S MARKET.
AsiaPulse News, April, 2002
SEOUL, April 4 Asia Pulse - Hyundai Motor Co, South Korea's biggest carmaker, and General Motors, the world's biggest auto company, are preparing for a head-on competition in each other's market, industry sources said Thursday.
Hyundai, selecting Montgomery City of Alabama on Tuesday as the home of its first U.S. plant, is set to hold a groundbreaking ceremony on April 16, paving the way to further enhance its U.S. market share.
GM is ready to expand into Asia and increase sales in South Korea, with sales negotiations with Daewoo Motors expected to be finalized this month.
Hyundai sold 142,995 cars in the world's biggest car market for the first three months of this year, up 20.1 per cent from the same period last year, pushing its U.S. market...
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