Hyundai Motor has hiked its growth forecast for locally assembled cars in China from 22% to 36%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Government economic stimulus measures have prompted the automaker to raise its 2009 unit sales forecast to 400,000 units from 360,000, compared with 294,508 in 2008, Reuters said.
A company spokesman told the news agency Hyundai also expects to import 30,000 cars this year, up from 25,000 last year.
“Judging from the data so far, China’s economic stimulus policies seem to be working, at least for the auto industry,” Beijing Hyundai Motor president Noh Jae Man told Reuters at the Shanghai motor show.
Beijing Hyundai is a 50-50 joint venture with Beijing Automotive Industry Holdings, a partner of Daimler and parent of Beiqi Foton Motor.
Noh added that he expected the Chinese car market overall to grow 10% this year, echoing a forecast made in Shanghai by Honda’s top local executive.
