Beijing Hyundai Feb sales up 72% to 32,008 units

Beijing Hyundai, China's joint venture of the Korean automaker, said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from 18,582 vehicles in February last year, increasing its overall market-share to 7.1 percent.

Hyundai Motor posted a sales increase for two straight months last month in the Chinese car market. Beijing Hyundai recorded a 17-percent surge in sales in January this year, ranking fourth in China's car industry.

Beijing Hyundai's success despite reducing worldwide car sales stems from the Chinese government's efforts to stimulate the auto industry, including reducing purchase tax from 10 percent to five percent for cars with engines below 1.6L and discounting the price of gas by 30 percent.

Hyundai's main vehicles Elantra (called Avante in Korea) and Accent (called Verna in China) with engines below 1.6L are reaping the benefits of the Chinese government's stimulus measures.

Hyundai Motor expects to sell 360,000 vehicles in the Chinese market this year. The forecast is up 25 percent from last year's 290,000 vehicles.