Rüsselsheim, Germany, 5. April 2004 -

European first quarter sales up 18 pct y-o-y to 81,926 units March "Best Sales Month Ever" with 34,613 units Annual sales target re-adjusted from 330,000 to 350,000 units

Hyundai Motor Europe (HME) just finished the first quarter of 2004 with a historic high of 81,926 units, which represents a year-over-year growth rate of 18 percent. As the major markets show signs of recovery and an improving economic climate, Hyundai Motor Europe have adjusted their forecast for 2004 from 330,000 to 350,000 units.

"We are pleased to announce that we achieved a record month with European sales of 34,613 units in March, adding to a strong first quarter. Especially our continuous improvements in quality and brand image will have a lasting impact on our sales in Europe," said Kwang Heum Um, President of Hyundai Motor Europe.

Pushing the growth in terms of volume during the first quarter were the Getz with 26,100 units (up 38.6 pct y-o-y), the Matrix with 10,300 units (up 28 pct y-o-y) and the Santa Fe with 11,500 units (up 11.8 pct y-o-y). By showing a clear competitive advantage in areas such as packaging, level of equipment and functionality, Hyundai expanded their sales of SUV (Santa Fe and Terracan) and MPV (Matrix and Trajet) models by 17.3 percent to 15,400 units and 18.6 percent to 13,300 units respectively.

"Although ambitious in our forecast, we are confident that we will manage to show our best result ever in 2004. With the start of the UEFA Euro 2004 'season' in just a few weeks time, we expect to further strengthen our position by aggressively investing in sales-generating marketing activities," said President Um and added: "It becomes quite visibly that we prepare ourselves to gather further momentum for advancing in our goal of becoming one of the world's top five automakers by 2010."

Established in 1967, Hyundai Motor Co. has grown into the Hyundai Automotive Group which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted 17.77 billion Euro in sales in 2003. Hyundai motor vehicles are sold in 190 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com.