Beijing Hyundai sees surging sales of Sonatas
( 2003-10-19 10:35) (Xinhua)
Beijing Hyundai Motor Co., a joint venture between China and the Republic of Korea (ROK), has so far sold nearly 40,000 Sonata cars since it was founded a year ago.
During the whole year of 2003, more than 50,000 Sonatas are expected to be sold, with the total sales volume exceeding 10 billion yuan (about 1.2 billion US dollars), according to the Beijing Daily newspaper. The company is now upgrading its assembly line with a view to improving the production capacity to 150,000 in 2004.
Beijing Hyundai will also introduce the Elantra model at the end of this year, and plans to produce 50,000 in 2004, the paper said.
Guo Qian, vice president of Beijing Hyundai, said the company will introduce at least one new model each year, and try to improve the overall production capacity to 500,000 to 600,000 around 2010.
As the seventh largest automobile maker in the world, Hyundai has chosen to set up its largest overseas production base in Beijing, which will greatly boost its development in return, according to the paper.
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