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Hyundai plans to sell 380,000 vehicles in Chinese market in 2008
Shanghai. January 7 (Gasgoo.com) - South Korea's top auto maker, Hyundai Motor Co., announced last Friday that the company aims at selling 380,000 vehicles in China by 2008, about 60 percent increase from last year's 231,000 units.
The automaker said the completion of its second plant and the launch of new models in Chinese market will help the company to achieve its 2008 target.
With the completion of a new $1billion plant on the suburbs of Beijing, Hyundai's annual capacity in China will be doubled to 600,000 units. Volume production in the second plant is set to start in May this year.
Hyundai also said its vehicle sales in U.S. market could rise to 515,000 units in 2008 from last year's 467,000 units, an increase of 10 percent. Globally Hyundai aims to increase car sales by a fifth this year to 3.11 million vehicles. The automaker sold 2.60 million vehicles globally last year.
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