Beijing Hyundai Sept sales up 176% to 60,870 units

Shanghai, October 16 (Gasgoo.com) Beijing Hyundai, a joint venture in China between Hyundai Motor and Beijing Auto saw its car sales rise 176.5% from a year earlier to 60,870 units, a record high of its monthly sales, media reported today.

For the first nine months of the year, the venture sold 412,399 cars, up 88% year-on-year. Elantra Yuedong and Elantra, both made by Beijing Hyundai, are two of China's top-selling sedans this year to date.

Beijing Hyundai is expanding its product line-up in China to meet the fast growing demand. In early August the venture launched Sonata moInca as its first self-developed model, and a month later released the i30 small hatchback with 1.6- and 2-liter engines.

Hyundai Motor raised its China sales target for 2009 to more than 500,000 units. The Korean automaker's China venture benefited from rising sales of small vehicles in China after the Chinese government cut taxes on small cars to spur market demand. 

Beijing Hyundai is set to build a third plant in China. The venture now has an annual production capacity of 500,000 units, which will rise to 600,000 units next year.