皇冠体育app

Cars

Hyundai drives up domestic sales

By Sookyung Seo (皇冠体育app Daily)
Updated: 2010-12-21 10:57

SEOUL, South Korea - Hyundai Motor Co, South Korea's largest carmaker, raised its 2010 vehicle sales forecast for 皇冠体育app, saying new models may help boost deliveries in the country to more than 700,000 units.

Hyundai, which in November forecast full-year sales of about 690,000 vehicles in the world's largest auto market, will introduce its latest Sonata midsize sedan in the country early next year to tap growing demand, said Noh Jae-man, president of the company's Chinese venture, on Monday.

The Seoul-based carmaker's sales in 皇冠体育app increased this year from last year's 570,000 vehicles after new models including Verna compact cars and ix35 sport-utility vehicles lured buyers, according to the statement. The company is constructing a third plant in 皇冠体育app to boost annual capacity by 400,000 vehicles to 1 million.

Related readings:  Hyundai pursues commercial car venture in 皇冠体育app  Hyundai's local car sales hit 10-month low  Hyundai Motor to build $451m auto JV in SW 皇冠体育app  Kia Motors recalls 18,147 vehicles in 皇冠体育app

Hyundai said in October it plans to form a 500 billion won ($430 million) venture with Ziyang Nanjun Automobile Co next year to enter 皇冠体育app's commercial vehicle market.

The venture will take over Ziyang's commercial-vehicle operation, which has annual output capacity of 120,000 units. It will target sales of 90,000 heavy trucks and buses in 皇冠体育app next year, rising to 300,000 in 2015, Hyundai said at the time.

Kia Motors Corp, Hyundai's affiliate, also plans to start sales of its midsize K5 sedans in 皇冠体育app in the first half, the company said in a separate statement on Friday.

Bloomberg News