Hyundai, Kia aim to boost brand image in China

Shanghai, March 19 (Gasgoo.com) After introducing its luxury Rohens and Rohens Coupe last September and earlier this month, Hyundai Motor will proceed to bring its premium Equus to the China market later this year. Meanwhile, Kia will introduce the XM SUV and its first Coupe TD. These will help the two Korean carmakers to boost their brand images in China's high-end car market, xinhuanet.com said today.

The all-new 2010 Hyundai Equus, which may come to China by September, is the most technologically advanced car ever to be produced in South Korea. In addition, it is going to be the most expensive car Hyundai has ever produced. The top-range Hyundai Equus, with a new 5.0-liter V8, will cost 130 million won or $96,000 in the South Korean market.

Hyundai has posted a sales increase for two straight months this year in the Chinese market. Beijing Hyundai sold 32,008 vehicles in February, up 72.3% from a year earlier, keeping its No. 4 spot among China's top 10 best-selling automakers and increasing its overall market-share to 7.1%. The joint venture is also striving to have one of China's three best-quality car brands within three years.

In the February sales of Beijing Hyundai, the Elantra (Yuedong) sold 24,664 units, leading the monthly sales of a single brand in China's medium-sized car market. The joint venture's major models Elantra and Accent with engines below 1.6L are reaping the benefits of the Chinese government's small-car tax cuts and other stimulus measures.

Dongfeng Yueda Kia plans to sell 185,000 cars in 2009, up 30% from 142,008 of last year. The company's sales growth in 2008 was attributed to the Kia models such as Sportage, RIO and Cerato. In February this year, the company sold 10.506 vehicles in China, including 6,548 Cerato cars and 2,588 Rio cars.

After launching the all-new Elantra in April 2008 as part of Hyundai's promise to release at least one new model in China each year, Beijing Hyundai will also roll out the Hyundai i30 hatchback in the second quarter. Hyundai and Kia are striving to boost their brand images in China.