Beijing Hyundai cuts sales target by 60,000 units

Shanghai, December 1 (Gasgoo.com) Beijing Hyundai general manager J.M. Noh said in a recent interview that the joint venture has reduced its sales target for this year to 320,000 units from the previous 380,000-unit goal that was set at the beginning of the year, reported Beijing News today. However, the company has not changed its target of selling 1 million vehicles along (with Kia Motor) in China in 2010.

Beijing Hyundai set the 2008 target of selling 380,000 units at the beginning of this year according to its sales performance and the industry growth rate in 2007. J.M. Noh said. But the devastating May 12 earthquake in western China, the traffic control during Beijing Olympic Games in August and the financial crisis these months have all made a considerable impact on the production and sales of Beijing Hyundai and many other automakers.

Hyundai Sonata "Ling Xiang"

J.M. Noh said that China's current sluggish auto market will not affect Hyundai Motor's long-term strategy in the Chinese market for the moment. Hyundai-Kia Group has not changed its strategic goal of selling 1 million vehicles in China in 2010. 

In the interview, J.M. Noh has also announced that Beijing Hyundai has plans to deliver two new models in each of the next three years. The company will launch a C2 model (equal to an A-class model) in the first half of 2009 and another self-developed model in the second half.

At the recent Guangzhou auto show, Beijing Hyundai unveiled the all-new Sonata model "Ling Xiang" -- the China-made Sonata which will go on sale in the coming few months. This model will rival Passat Lingyu in the D-class segment and is projected to sell 40,000 units annually.