Frankfurt Auto Show Update: Korean Automakers Drive Into European Car Show

Hyundai Motor and its affiliate Kia Motors unveiled their first convertible models at the opening of the 60th Frankfurt International Motor Show Tuesday. Hyundai Motor showcased a concept convertible based on its sport coupe Tuscani at the largest European auto show, saying it will mass-produce the new car from the second half of next year. A convertible coupe, also called a cabriolet, is an automobile with a folding top.

``The Hyundai convertible, built by the automaker's European design center under the codename `CCS,has a 2.7-liter, six-valve engine and six-gear automatic transmission, a company spokesman said.

``At the touch of a button, the CCS's rooftop and rear windows are folded into the trunk. In the open-car mode, the rear seat turns into a spacious area for cargo, she added.

Kia Motors also released a hard-top convertible concept model, named KCV III, targeting young motorists in their 20s and 30s.

The KCV III, equipped with a 145-horsepower, four-valve and two-liter engine, also boasts a number of cutting-edge systems, including advanced cruise control, a personal IC-chip card, a rear-view camera and an MP3 stereo.

``The latest convertible concept represents an integration of Kia's auto technologies, but its mass-production is still far on the horizon, a company spokesman said.

Local auto industry analysts have long suggested Hyundai and Kia build a complete model lineup to accelerate its rise to the ranks of the world's top five automakers. The convertible segment had been long regarded as a big weakness for Hyundai and Kia.

The Frankfurt Motor Show, one of the world's big four auto exhibitions, features a total of 2,000 models.

Besides the new convertibles, Hyundai and Kia together displayed 30 mass-produced models for the motor show, while GM Daewoo Auto & Technology presented 10 sedans. The nation's Big Three automakers aim to expand their European exports by 25 percent to over 600,000 units in 2003.

The three automakers' combined exports to Europe rose 19.6 percent year-on-year to 380,645 units in the first eight months of the year.

Hyundai is expected to record 303,000 units in exports to Europe for all of 2003, while Kia and GM Daewoo estimate their annual volumes to reach 150,000 units each.

Altogether, the Big Three are projected to record 603,000 cars in exports to Europe this year, up 25 percent from last year's 482,345 units.