Hyundai, Kia post first sales fall in 18 years

Hyundai Motor likely clocked its fourth straight annual profit decline in 2016

Hyundai Motor and affiliate Kia Motors on Monday forecast global sales to rebound in 2017 by a stronger-than-expected five per cent, after posting their first annual sales fall in nearly two decades last year.

Sales could get a lift this year with emerging markets such as Russia stabilising, and with Hyundai and Kia Motors gearing up to boost supply to the United States and China, analysts said.

But margins could come under pressure as the South Korean duo — which together rank fifth in global sales — plan to add capacity in China and Mexico, just as many analysts expect those markets