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[Alpha Biz=(Chicago) Reporter Kim Jisun] Beijing Hyundai, Hyundai Motor's local joint venture in China, has not been able to escape from sluggish sales.
Hyundai Motor, which has declared its sales target of 3.54 million units this year, is in dire need of momentum in China, the world's largest auto market. In particular, although it has announced the launch and electrification of local specialized models this year, it is analyzed that the timing of response is important.
According to the industry on the 27th, the number of new Chinese cars registered by Beijing Hyundai was 14,014 last month. The figure is down 31.58 percent from a year earlier. Compared to the previous month, it decreased by 31.57%.
This year is the time for Hyundai Motor to find a chance to take a leap forward in the Chinese market. This is because it recorded the highest sales, operating profit, and production last year and raised its sales target to 3.54 million units. However, it is still sluggish in China, the world's No. 1 auto market, where more than 25 million vehicles are sold a year.
Hyundai Motor is focusing on changes in sales in the Chinese market. Jang Jae-hoon, CEO of Hyundai Motor Co., suggested 306,000 units of its sales target in China at this year's New Year's party, up 20.5 percent from a year earlier.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
