Hyundai planning third plant in China, sales up 83%

The Chinese governments automotive stimulus has served both domestic and international car makers well, small compact sedans and hatchbacks have performed extremely well, all thanks to government intervention.

Korea’s top automaker, Hyundai, along with its joint venture partner Beijing Automotive have successfully increased their sales by 83% in China this year, which resulted in their market share jumping from 8.1% to 9.9%. Hyundai’s subsidiary, Kia also saw sales rise by 55% in the first 10 months of the year. Sales for both Hyundai and Kia stood at 570,000 and 230,000 respectively.

Hyundai currently operates two factories in China both with a production capacity of 300,000 cars per year, Kia operates two factories with Dongfeng Yueda Kia which have a combined production rate of 430,000 vehicles per year.

2010 will see the introduction of new Hyundai SUV’s and also the Kia Soul compact hatch, which will no doubt improve their 2010 sales no end.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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