Hyundai Sets Goal of 11,000 Sonata Hybrids
Hyundai Motor said on Tuesday that it aimed to sell 11,000 units of its first gasoline-electric hybrid model, the Sonata Hybrid, in South Korea this year, as rising gasoline prices stoke demand for fuel-sipping cars.
The move comes as Japanese rival Toyota Motor suffers from tight supplies of popular models such as the Prius hybrid after Japan's March 11 earthquake disrupted production.
"The timing is appropriate for the launch of the Sonata Hybrid as Toyota is suffering from supply shortages of the Prius and other small, fuel-efficient models," Ko Tae-bong, an analyst at IBK Securities, said.
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