Hyundai Motor Corp. will enter new segments in this decade, part of an ambitious plan to triple sales by 2010, said CEO D.J. Kim.
He said the company will bring a new crossover vehicle to the United States in 2004. Crossovers combine attributes of cars and SUVs.
Around 2008, Kim expects to sell a luxury vehicle with a V-8 engine. But he said no decision has been made on whether to create a separate luxury division.
Hyundai is seriously considering a minivan, a full-sized SUV and a small pickup for sale in the United States by the end of 2008. He said the full-sized SUV was all but certain for about 2007.
Kim spoke at the J.D. Power International Automotive Roundtable here yesterday.
Hyundai wants affiliate Kia to specialize in minivans, he said. But the company is looking at developing a Hyundai minivan off a Kia minivan. Last year, Kia sold 39,088 Sedona minivans.
Hyundai sold 375,119 vehicles in the United States in 2002, up 8.3 percent. The company wants to sell 1 million vehicles by 2010.
In other matters, Hyundai's U.S. assembly plant, under construction in Montgomery, Ala., will start producing salable vehicles in the first quarter of 2005. Kim said the company will assemble only Hyundais, and no Kias.