Hyundai lifts China '09 sales target by 13%

Shanghai, July 15 (Gasgoo.com) South Korea's top carmaker, Hyundai Motor Co, has raised its 2009 sales target in China for a second time this year as a result of sustainable auto market growth seen in the country, Reuters reports.

Hyundai said in a statement on Tuesday that its Chinese unit aimed to sell 450,000 cars this year, 12.5 percent higher than its previous target.

During the Shanghai auto show in April this year the automaker had raised its China venture's sales goal for 2009 by more than 11% to 400,000 cars as economic stimulus measures spur demand in the world's largest auto market.

"The unit has posted brisk sales so far this year following China's measures to bolster car demand. Our new models will help us achieve higher sales there," a company official told Reuters under the condition of anonymity.

Hyundai 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.

The automaker will also start selling in China revamped Chinese-made Sonata sedans and i30 compact cars from July and September this year.

Beijing Hyundai, a 50-50 joint venture with Beijing Automotive Industry Holdings, sold 257,003 cars in the first half of this year, up 56 percent from a year earlier.