Hyundai Motor Company, South Korea's largest automaker, has officially opened its NZD$2.04 billion manufacturing plant in Noovice, Czech Republic cementing its position in the European market. Hyundai has pushed through the worldwide auto market slowdown better than its rivals and the company predicts that European sales this year will increase to levels seen before global economies tightened. Hyundai was one of the few manufacturers to see a boost in sales this year in its European market; in the first eight months of 2009 the carmaker recorded the second highest sales among brands in Europe. With mass production having started in November last year, Hyundai Motor Manufacturing Czech (HMMC), a fully-owned subsidiary of Seoul-based Hyundai Motor Company, has a current capacity to build 200,000 vehicles annually, which will be increased by 100,000 to 300,000 units per year in 2011. The company hopes to sell 336,000 vehicles in the region this year. The target is 17 percent higher than the 2008 figure of 286,000 units, which was 10 percent lower compared to the previous year. The first vehicle to be produced was the award-winning i30 five-door hatchback which was joined by its award-winning sister model, the i30 Wagon, in February this year. "Having completed the new Czech factory, Hyundai now has a strong production foothold in all key markets including the USA, China, India and Turkey. This global production network will enable the company to supply sought after Hyundai product to customers around the world more quickly and efficiently," says Hyundai New Zealand Executive Director Philip Eustace Hyundai continues to attract new buyers to the brand. The Hyundai operations in the U.S., China and India all sold more vehicles in August than in any previous month on record. "Both in New Zealand and around the world, the Hyundai product is increasing in popularity and demand - we have seen this with the launch of products such as the i30 range. We are now eagerly awaiting the arrival of the exciting all-new ix35 compact SUV and YF sedan to join our award winning range in dealer showrooms" finished Eustace.