Business Services Industry
HYUNDAI CONFIDENT IN CHINA'S AUTO MARKET.
AsiaPulse News, July, 2003
BEIJING, July 8 Asia Pulse - Hyundai is confident in China's auto market and satisfied with the current joint venture in Beijing, Chung Mong-koo, chairman and chief executive officer of Hyundai Motor Company (KSE:05380), said.
Beijing Hyundai Company, established six months ago, developed rapidly in China. On June 17, the first 20,000 Sonata came off the production line and the company's sales surpassed 21,000 by the end of June, with sales revenue reaching 4.15 billion yuan (US$500 million).
Beijing Hyundai will set up over 100 special sales shops by the end of 2003.
The company aims to sell 50,000 Sonata cars this year, with sales revenue reaching one billion US dollars.
Chung said he was confident of the continuous growth of China's...
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