Hyundai sees '09 China sales up 83%, plans 3rd plant

Shanghai, November 13 (Gasgoo.com) South Korea's top carmaker Hyundai Motor Group said yesterday that it expects car sales in China this year to surge 83% to 800,000 vehicles and plans to build a third plant in the world's largest auto market, media reported.

In China, Hyundai has sold 460,000 cars in the first 10 months of the year, up 89.3% from a year ago, with its subsidiary Kia's sales up 55.3% during the period. This year, sales of Hyundai and Kia cars are expected to reach 570,000 and 230,000 units, respectively, the automaker said in a statement.

Hyundai-Kia, the world's fifth-largest automaker by sales, had a market share of 9.9% in China in the first nine months of the year, higher than the 8.1% it had a year ago. The company sold 436,514 cars in the country last year. Hyundai operates a China venture -- Beijing Hyundai Motor Co.

During a recent visit to one of the company's plants in China, Chung Mong-koo, chairman of Hyundai-Kia Automotive Group, said the leading Korean automaker is in the process of setting up a third plant in the country. Hyundai has two plants in China, each making 300,000 vehicles a year.

In the first 10 months, Beijing Hyundai sold 460,590 vehicles in China, up 56% year on year. The passenger car venture is targeting sales of 550,000 units by the end of this year.

Kia Motors also operates two plants in China under Dongfeng Yueda Kia Motor, a joint venture founded in 2002, with a combined annual output of 430,000 units.