Hyundai raises 2010 vehicle sales forecast for China
Hyundai Motor Co. has raised its 2010 sales forecast for China, saying new models may help boost deliveries by 23 percent to more than 700,000 units.
In November, Hyundai had forecast full-year China sales of 690,000 units.
Early next year, Hyundai will introduce its redesigned Sonata midsize sedan in China, said Noh Jae-man, president of the company's Chinese venture, in an e-mailed statement.
Hyundai's China sales rose from last year's 570,000 vehicles after the Verna compact car, the ix35 SUV and other new models lured buyers, according to the statement.
The company is building a third plant in China to boost annual capacity by 400,000 vehicles to 1 million.
In October, Hyundai said it plans to form a 500 billion won (2.9 billion yuan) venture with Ziyang Nanjun Automobile Co. next year to enter China's commercial vehicle market.
The venture will take over Ziyang's commercial-vehicle operation, which has an annual capacity of 120,000 units. It will target sales of 90,000 heavy trucks and buses in China next year, rising to 300,000 in 2015.
Kia Motors Corp., Hyundai's affiliate, also plans to start sales of its midsize K5 sedans in China in the first half of 2010, the company said in a separate e-mailed statement.
