Hyundai Motor Jan-Jul China sales up 66%

Shanghai, August 13 (Gasgoo.com) Hyundai Motor said today that its sales in China surged about 66% year-on-year in the first seven months of 2009 mainly thanks to stimulus measures by the Chinese government, AsiaPulse reported.
 
The largest automaker of S. Korea sold a total of 300,816 locally-made vehicles in the Chinese market in the January-July period, and the figure surpassed last year's total of 294,506 units it sold in China.

The Korean automaker 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 market demand.

Hyundai recently raised its 2009 sales target in China (to 450,000 cars) for a second time, and plans to start selling revamped Chinese-made Sonata sedans and i30 compact cars in China later this year to further boost sales.

Beijing Hyundai, a 50-50 joint venture between Hyundai Motor and Beijing Automotive Industry Holdings (BAIC), has two plants in China with a combined capacity of 600,000 units. The venture sold 257,003 cars in the first half of this year, up 56% from a year earlier, and 43,813 units in July, up 172.6% y/y.

Hyundai's affiliate Kia Motors, South Korea's No.2 automaker, also saw its sales in China jump 31% on-year to 112,000 vehicles in the first seven months.

Hyundai and Kia together achieved sales of 65,105 cars (excluding their imports) in China last month, a surge of 145.7% year from a year earlier.