SOUTH KOREA: Hyundai focuses on larger models in China
Hyundai Motor plans to raise sales and market share of mid and large-sized cars in China.
Beijing Hyundai Motor Company said it plans to boost the share of mid and large-sized and high-end large cars to 50% of its total sales there by 2015, the Maeil Business Newspaper reported.
At present, smaller models like the Avante and Tucson ix take up higher share of the company's sales in China. Beijing Hyundai will now concentrate on selling more mid-sized cars including the Sonata and Santafe and high-end large cars including the Genesis and Equus. Hyundai began by introducing an exclusive version of the Santa Fe at the 2012 Guangzhou International Motor Show.
Car production in China will be also expanded in line with this move, by as much as 40% over the next three years in a move to manufacture 1.4m units by 2015.