Hyundai Hopes to Drive Car Sales in China
South Korea's Hyundai Motor Co., which sold more vehicles globally last year than Japan's Honda Motor Co., said it will make one-third more cars in China in 2005, part of a plan to become one of the world's top five automakers by 2010.
In an article in Korea Herald, Korea's largest carmaker noted it plans to make 200,000 vehicles in China this year through its Beijing Automotive Industry Corp. venture.
Hyundai Motor will add the Tucson sport utility vehicle model, Click and Verna compacts to the Sonata and Elantra sedans it is already making in the Chinese capital.
Hyundai Motor, based in Ulsan southeast of Seoul, is counting on overseas markets to maintain its sales growth, as it aims to overtake Volkswagen AG and Nissan Motor Co. to be among the world's five largest carmakers within five years. Hyundai Motor and its Kia Motors Corp. affiliate sold 3.4 million vehicles worldwide last year, placing them ahead of Honda and PSA Peugeot Citroen.
Hyundai Motor is counting on sales in China, the world's most populous nation and the thirdl argest vehicle market, as consumer demand in Korea remains in a slump.
In an article in Korea Herald, Korea's largest carmaker noted it plans to make 200,000 vehicles in China this year through its Beijing Automotive Industry Corp. venture.
Hyundai Motor will add the Tucson sport utility vehicle model, Click and Verna compacts to the Sonata and Elantra sedans it is already making in the Chinese capital.
Hyundai Motor, based in Ulsan southeast of Seoul, is counting on overseas markets to maintain its sales growth, as it aims to overtake Volkswagen AG and Nissan Motor Co. to be among the world's five largest carmakers within five years. Hyundai Motor and its Kia Motors Corp. affiliate sold 3.4 million vehicles worldwide last year, placing them ahead of Honda and PSA Peugeot Citroen.
Hyundai Motor is counting on sales in China, the world's most populous nation and the thirdl argest vehicle market, as consumer demand in Korea remains in a slump.
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