The Korea Herald

지나쌤

Sales of Hyundai’s Avante top 1m units in China

By Korea Herald

Published : Feb. 28, 2013 - 20:39

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South Korea’s top automaker Hyundai Motor Co. said Thursday that cumulative sales of its Avante compact have surpassed 1 million units in China about five years after its debut there.

The milestone comes after Beijing Hyundai Motor Co., a 50-50 joint-venture between Hyundai and Beijing Automotive Group, unveiled the Avante HD, called the Yuedong, in the world’s largest auto market in April 2008.

Hyundai has said it invested 65 billion won ($60 million) in developing the Yuedong by reflecting Chinese consumers’ appetite for a compact with a larger appearance.

Beijing Hyundai Motor operates three assembly plants in Beijing that can produce 1 million units per year.

Hyundai said its market share stood at 6.7 percent in China last year while its sister company, Kia Motors Corp. maintained a 3.8 percent market share, according to Hyundai. (Yonhap News)