Hyundai Outlines New Strategy in China

SHANGHAI - August 28, 2007:

Hyundai, the sixth largest automaker in the world, plans to produce and sell 600,000 vehicles in the Chinese market by 2008 (halting the company's downward trends this year), Chinese media reported today.

Hyundai's two joint ventures in China: Beijing Hyundai and Dongfeng Yueda Kia, are busy building their second plant. Hyundai's coupe will be introduced and be made locally in China in 2009, according to the report.

In its sales network, Beijing Hyundai will expand the number of its franchised dealers to 400 and improve sales service and management, the report said.

Sales of Hyundai Motors in China had declined substantially since the beginning of this year, according to China Association of Automobile Manufacturers.

In the Chinese market, its hot model, Elantra, have an accumulative sales of 500,000 units, and China has become Hyundai's most vigorous overseas market.

For more information about the burgeoning auto industry in China please visit http://www.gasgoo.com/Autobiz/list/7/China-News.html