Hyundai Motor is seeing an increased sales in China after its sales nosedived last year due to the diplomatic feud with China over the deployment of the THAAD missile system. Hyundai’s strategy to launch new models tailored exclusively for China seems to have been successful.
Hyundai Motor sold 71,006 units last month in China, according to Hyundai on Tuesday. This is an increase of 17,998 from the same period last year (53,008).
Hyundai’s growth is particularly noticeable given that the Chinese auto market is currently in a slump. According to China Association of Automobile Manufactures, a little over 1.73 million cars were sold in China last month, a down by 7.4 percent from the same period last year.
The Korean automaker finds a launch of new models and aggressive marketing as the reason behind the increased growth. Last month, Hyundai offered a discounted price on some of its models, including ix35 (Tucson in Korea), ix25, Langdong (Avante in Korea), and Verna, its strategic model for China. Keeping up with the increasing demand for sports utility vehicles in China, Hyundai Motor released Encino, Chinese version of Kona, in April. Hyundai was knocked out of top 10 in terms of market share in China last year, but rose to seventh place last month.
Eun-Taek Lee firstname.lastname@example.org