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Hyundai, Kia shares down nearly 4 pct on bleak 2014 sales forecast
January 2, 2014 / 2:26 AM / 4 years ago

Hyundai, Kia shares down nearly 4 pct on bleak 2014 sales forecast

SEOUL, Jan 2 (Reuters) - Shares of Hyundai Motor Co and its affiliate Kia Motors Corp both fell nearly 4 percent on Thursday, after the South Korean automakers said they expect annual vehicle sales to grow at the slowest pace since 2003.

Hyundai and Kia, together ranked fifth in global car sales, aim to boost global sales by 4 percent this year to a combined 7.86 million vehicles, the pair said in regulatory filings on Thursday.

Shares of Hyundai Motor traded at 229,500 Korean won ($220)each, down 3.6 percent, while Kia Motors stocks had fallen 3.9 percent to 53,900 won as of 0218 GMT. ($1 = 1055.3500 Korean won) (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Kenneth Maxwell)

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