Hyundai Motor sells more than 10 million cars in China
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Hyundai Motor, Korea’s largest carmaker, said Sunday that accumulated sales of its vehicles in China surpassed the 10 million unit mark in 2018. The milestone was reached 16 years after the company entered the key neighboring country, which has since become the largest market for new cars in the world.
Hyundai first sold the midsize Moinca, a localized version of the Sonata, in the first year, which was followed by the Elantra. By 2008, it had increased its lineup to six, with sales exceeding 1 million units. In 2013, the carmaker said it sold 1 million vehicles in the world’s most populous country, with some 5 million cars being sold overall. Up until 2016, annual car sales exceeded the 1 million mark, although this plunged 31.3 percent on year to 785,000 units in 2017, amid a diplomatic dispute over the deployment of a U.S. missile defense system in Korea.
For 2018, the carmaker said Hyundai sales edged up 0.6 percent from a year earlier to a little over 790,000, with numbers for this year not looking too promising.
Questions & Answers
Q.What was the initial car model Hyundai sold upon entering the Chinese market?
What was the initial car model Hyundai sold upon entering the Chinese market?
Hyundai first sold the midsize Moinca in China, which was a localised version of the Sonata. The Elantra model followed this initial offering in the market.
Q.How did Hyundai's sales performance in China change between 2016 and 2017?
How did Hyundai's sales performance in China change between 2016 and 2017?
Annual car sales exceeded 1 million units up until 2016. However, in 2017, sales plunged by 31.3 percent year-on-year, resulting in 785,000 units sold.
Q.What reason did the carmaker give for the significant drop in sales during 2017?
What reason did the carmaker give for the significant drop in sales during 2017?
The carmaker attributed the substantial sales decline in 2017 to a diplomatic dispute. This dispute concerned the deployment of a U.S. Missile defence system in Korea, impacting market conditions.
Q.When did Hyundai's cumulative sales in China first reach 1 million units?
When did Hyundai's cumulative sales in China first reach 1 million units?
By 2008, Hyundai had increased its lineup to six models, and by this point, its cumulative sales in the Chinese market had already exceeded 1 million units.
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