Beijing Hyundai Delays '09 Output, Sales Planning

Shanghai, December 24, 2008: (Gasgoo.com) Beijing Hyundai said it has to delay its planning of 2009 output and sales to the beginning of next year because the economic crisis has now made the automaker unsure of the market demand, sinanet.com said, citing vice general manager of Beijing Hyundai.

According to vice general manager of the joint-venture carmaker, Beijing Hyundai expects its sales of 2008 will increase by 25% from a year earlier, a significantly higher growth over the industry average.

It is reported that Beijing Hyundai ranked 9th among China¡¯s automakers by passenger vehicle sales during the first eleven months this year, totaling 266349 units, of which 182,479 were contributed by Elantra and Yuedong models.

The joint venture was not sure of the sales plan for 2009 yet, but the target definitely would be higher than sales fulfilled this year and lower than sales announced last year, said the vice general manager.

With the financial crisis and downturn of vehicle markets spreading worldwide, Beijing Hyundai has become more cautious to make sales plans. The carmaker is determined to postpone the 2009 plan to the beginning of next year.

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