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Hyundai sets sales record in China

Korean automaker continues to make inroads in rapidly growing market

Dec 30,2010
Hyundai Motor announced yesterday that it has sold more than 700,000 vehicles in China this year through Dec. 28, a major milestone for Korea’s largest automaker and the company’s highest sales figure in a single market.

The car giant easily surpassed its goal of selling 670,000 units in the Chinese market this year, reaching that total in early December.

The automaker said the milestone is particularly meaningful because China represents one of the most competitive vehicle markets in the world with more than 40 brands - including Toyota, Honda and Volkswagen in addition to domestic companies - battling for customers.

The Hyundai Elantra, which is called the Avante in Korea, accounted for the largest chunk of the auto giant’s sales in China this year, with more than 210,000 units sold through November.

Other models, including the ix35, called the Tuscon ix in Korea, and the new Verna, have gained traction as well.

“We are doing so well this year in part because of the new models but also because we have upgraded our brand image in China over the years,” said an official with Beijing Hyundai, the company’s main China unit.

Hyundai has aggressively touted its cars in the market this year through various initiatives, including sponsoring sporting events and cementing product placement deals in television programs. The company is planning to open its third production facility in Beijing in 2012, which will boost its overall manufacturing capacity in the country to 1 million units per year.

Hyundai also announced that it received an A+ rating from Canada’s largest private broadcaster, CTV, along with U.S. auto giant Ford, in a ranking of automakers in the North American market.


By Jung Seung-hyun [seungjung@joongang.co.kr]



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