Hyundai Hits Annual Sales of 1 Million in China

Hyundai Motor has sold over 1 million vehicles in China this year, 11 years after it entered the world's largest car market in November 2002.

It is the fastest record set by a foreign automaker there.

The automaker said on Wednesday that its joint venture Beijing Hyundai sold a total of 1.03 million units this year. It is the first time Hyundai has reached the milestone in a foreign market. Its cumulative sales in China now also exceed 5 million.

Hyundai's success is partly due to its strategy of releasing new models exclusively targeting the Chinese market, while also expanding its production facilities there.

Immediately after the EF Sonata and Avante were released in Korea, Hyundai took them to China. The Yuedong, a modified version of the Avante that was released to cater to Chinese drivers in 2008, has become a steady seller there, with around 200,000 units sold a year.

Hyundai is also gearing up to increase its production facilities in China. In January, it will start operating its third plant in the country with annual production of 150,000 units. The automaker plans to build another plant in the western inland area to produce 400,000 units a year, and increase its number of dealerships in the country from 860 to 1,000 by 2015. / Dec. 26, 2013 10:32 KST