New Milestone in China
Hyundai Motor will achieve annual sales of 1 million units in China for the first time in 11 years after its inroads into China. Among nations that Hyundai has entered so far, China is the first nation that gave Hyundai such a crown.
According to Korea’s largest car manufacturer on December 5, its Chinese subsidiary sold 930,300 units in China during the January-November period this year, which will lead Hyundai to record one million sales by the end of this year, considering its monthly sales in China are 80,000 to 90,000 units.
Hyundai’s sales volume in the Chinese market reached 144,000 units in 2004, two years after its launch in late 2002 with the foundation of Beijing Hyundai. In 2010, the company sold over 700,000 units.
Hyundai currently operates three assembly lines in Beijing, producing a total of 855,300 units last year. The company will start construction of the fourth plant in the western area as early as the first half of next year to meet the fast-growing demand in China.
The Korea’s largest car manufacturer entered into the Chinese market in December 2002, two months later than Toyota, but outpaced its Japanese rival to enjoy this feat. Hyundai has been competing with Toyota over the No. 4 position in China.