To reverse sluggish sales, Hyundai Kia selects new leaders in China

Shanghai. December 5 (Gasgoo.com) - The world sixth largest automaker, Hyundai Kia decided to install two new top executives to oversee the company's operation in Chinese market, the Shanghai-based Morning Post reported today.

Kim Dong-jin, vice Chairman of the Seoul-based Hyundai Motor Vice Chairman has been appointed to head Beijing Hyundai and Kim Yong-Hwan, Senior Executive Vice-President has been selected to oversee the sales and production of Dongfeng Yueda Kia.

In the first ten months, Beijing Hyundai sales in Chinese market dropped 20.3 percent to 186,612 vehicles and Dongfeng Yueda Kia dropped 16.4 percent to 78,384 vehicles.

In September, Beijing Hyundai, the biggest loser in Chinese market this year, announced to cut its sales target by 50,000 to 260,000 this year.

Beijing Hyundai launched agressive price cuts for its sedans in the first week of September: average of 12.3 percent cut Elentra, 10.2 percent cut for Sonata and 7.4 percent cut for Accent.

Dongfeng Yueda Kia launched its first SUV Sportage in late October, which competes with Hyundai Tuscon and Honda CRV.