UPDATE 3-Hyundai, Kia see 2016 sales lagging auto industry growth

lunes 4 de enero de 2016 02:28 GYT

* Automaker targets 2016 sales of 8.13 mln vehicles, up 1.5 pct

* Sales flat at 8.01 mln vehicles in 2015, missing earlier target

* Hyundai Motor, Kia Motors shares down 3.4 pct (Adds sales results, closing share prices)

By Hyunjoo Jin

SEOUL, Jan 4 (Reuters) - Hyundai Motor and affiliate Kia Motors expect their vehicle sales to rise 1.5 percent this year, lagging industry growth forecasts, after missing their target in 2015 for the first time since the 2008 global financial crisis.

The once out-performers in the global industry have been losing momentum in recent years, with demand slowing in China and other emerging markets, while Japanese and U.S. rivals making a comeback in the United States.

The South Korean pair are expected to see China sales bounce back thanks to tax cuts on small cars this year, but demand in Russia, Brazil and other key emerging markets will remain depressed, analysts said.

Hyundai and Kia, together the world's fifth-largest automaker by sales, are also bracing for a weaker recovery in South Korea and the United States.

"Business uncertainty has grown," Chung Mong-koo, chief of the family-run Hyundai Motor Group, said in a statement.   Continuación...