Hyundai’s sales in China start to show signs of recoveryHyundai Motor Group’s sales in China continued to show signs of recovery last month from the fallout from political tensions between the two countries over the deployment of a U.S. missile system in Korea.
In October, Hyundai Motor and its affiliate Kia Motors, which together form the world’s fifth-biggest carmaker by sales, said they sold a combined 122,521 vehicles in China, down 23 percent from a year earlier.
Their sales results remain weak, but the pace of decline has significantly decelerated given that their overall sales plunged 52 percent to 430,947 units in the first half of this year from 808,359 a year ago.
The improvement is largely attributed to Hyundai’s new assembly line in China, aggressive marketing and eased diplomatic tensions over the deployment of the U.S.-led Terminal High Altitude Area Defense antimissile system.
Hyundai sold more than 58,000 units of the all-new Reina subcompact. The Reina is produced at its fifth plant in China, which began operation in September. Additionally, the carmaker offered more incentives to lure customers at dealerships.