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Hyundai to outdo production goal despite strikes

Hyundai to outdo 2013 produce target despite labor strife thanks to higher overseas production

Hyundai to outdo production goal despite strikes

SEOUL, South Korea (AP) -- Hyundai Motor Co. says it expects to manufacture 4.7 million vehicles this year, exceeding its target despite strikes disrupting its South Korean production.

The company had aimed to make 4.66 million vehicles this year.

Kim yeung-tae, Hyundai's vice president, said Thursday higher production in China and Brazil offset its South Korean plants making fewer cars.

Hyundai has been reducing the proportion of vehicles it manufactures at home.

In 2008, 40 percent of the vehicles it sold globally were made in South Korea. Kim said the figure will be 25 percent this year.

Hyundai reported a 4 percent rise in its third-quarter net income to 2.3 trillion won ($2.2 billion), moderately above analyst forecasts of 2.2 trillion won.

Sales climbed 6 percent to 20.8 trillion won.