New Hyundai Sonata YF to launch in China in 2011

Shanghai November 3 (Gasgoo.com) Beijing Hyundai, Hyundai Motor's Chinese venture with Beijing Automotive Industry Holding Corp (BAIC), will launch the new Hyundai Sonata YF sedan in the domestic market in the first half of 2011, marking a turning point for the automaker to tap the mid- and high-end market in China, Beijing Youth Daily reported Wednesday.

Chinese consumers are actually quite familiar with the Sonata models, such as the Hyundai Sonata NF Yu Xiang and NFC Ling Xiang cars, which however are lagging behind same level models in sales. For which many executives at Beijing Hyundai think that Hyundai may still have limitations on brand offering.

The new Sonata YF is the most successful model the Korean automaker has ever sold in the European market, and expected to be sold for less than 170,000 yuan ($25,000) in China, referring to the price of the Sonata Ling Xiang. The car will compete head on with Toyota Camry and Honda Accord which are now dominating the segment.

Sources said Hyundai engineers and designers spent four years and $372 million in development of the sixth generation Sonata sedan, which will make Beijing Hyundai suffer a crushing defeat in the mid- and high-end market if still having an average sales performance after it is locally produced in China.