Hyundai Motor's April sales in China up 74% y/y

Hyundai Motor Co., South Korea's top automaker, said Monday its auto sales in China jumped last month as it introduced China-made vehicles to make deeper inroads into the world's only major growing car market.

Hyundai sold 50,217 cars in China in April, up 74 per cent from the same period last year, the company said.

The automaker also benefited from rising sales of small vehicles in China as the Chinese government cut taxes on cars with an engine size of 1.6 liters or less to spur demand.

Hyundai added it would start selling in China revamped Chinese-made Sonata sedans and i30 compact cars from July and September this year, respectively.

Despite shrinking demand for new vehicles worldwide, the Chinese automobile market is expected to grow at a single-digit rate this year, analysts say.