New Hyundai Accent debuts in China

BEIJING February 25, 2006; Shirley Han Ying writing for The Korea Herald reported that The first batch of Hyundai's Accent will go on sale at Beijing Hyundai dealers in China on Feb. 28. Available in two engine sizes, 1.4 liter and 1.6 liter, the cars will be priced in the low to medium range of $10,000 to $12,500.

Marketed under its Chinese name, Ya Shen Te - which means elegant, gentle and special - its reasonable price and reliability make the Accent a very practical choice for middle class Chinese families.

The introduction of the Accent, built at the company's factory in Beijing, clearly demonstrates Beijing Hyundai's determination to capture a larger share of China's burgeoning low to middle end car market.

Even after impressive sales over the past three years, Beijing Hyundai still seems reluctant to take on its Japanese rivals in the high end car market.

The Chinese joint venture was established in October 2002. In three years, the company has increased sales from 50,000 to 233,000 cars in China. Its production capacity has also increased from 150,000 to 300,000 units since June of last year.

The company's best seller last year was the award winning Elantra, with sales of 170,000 units. The success of the Elantra and the Sonata has forced other car companies to re evaluate the Chinese market and restructure their production and pricing strategies.

Meanwhile, the company said it will be putting more resources into marketing its Tucson SUV after auto analysts said this year would be the year of the sports utility vehicle in China.