Hyundai Motor’s Sports Utility Vehicle (SUV) sales have reached 40 percent of its total sales in the Chinese market. SUVs have better margins relative to sedans or compact vehicles. The increase SUV sales signal a good year for Hyundai in the Chinese market. According to Hyundai Motor and the automobile industry on Tuesday, sales of Hyundai cars in the Chinese market totaled 162,612 units for the first quarter of the year. Among them, 67,167 units were SUV models such as ix25, ix35, Tuscon and the Sane Fe, making up 40 percent of total sales. The Korean company sold 37,847 unites of the New ix35, which launched locally last November, in the first quarter of this year, exceeding last year’s sales of 34,361 units.
Having entered the Chinese market in 2002, Hyundai Motor’s share of SUVs was only 3.9 percent as of 2005. In 2016 it reached 33.7 percent, but later fell to 29.5 percent because of THAAD (Terminal High Altitude Area Defense) complications.
Eun-Taek Lee email@example.com