Beijing Hyundai has raised its 2012 sales target but expects to maintain its current 6.2% market share this year, a senior executive said.
Hyo Heum Baik, Beijing Hyundai Motor’s president and CEO, told Reuters at the Beijing show the company expects to sell 800,000 cars this year, up from its earlier target of 790,000. It will add 80 dealers this year to bring the total to 800.
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Beijing Hyundai is a JV between Chinese state-owned BAIC Group and Hyundai Motor.
Baik said Beijing Hyundai had no current plan to build a fourth car factory in China. It is building its third plant there to help ease capacity constraints.
Affiliate Kia also builds in China.
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