Hyundai Sells Good, Wants to Sell Better

The South Korean car manufacturer Hyundai said sales of its newly redesigned Verna (Accent) subcompact in China have registered a record high in November. The company credits the achievement to its high quality and design tailored to customers in the world's biggest car market.

Hyundai sold a total of 10,313 Verna units on the Chinese market last month, the car’s highest monthly sales figure, according to the Korea Herald quoting Hyundai. The automaker had delivered 9,776 vehicles in September and 7,738 units in October.

Sales of the Verna have been rising since its launch in August when 5,992 units were sold, according to Hyundai. With demand for subcompact cars growing rapidly in China, the Verna is expected to account for most of Hyundai’s market share in the world’s most populous country, according to market watchers.

Hyundai sold 67,889 vehicles in China in November, reaching 637,686 units for the January-November period.

Hyundai and Kia plan to increase their combined annual sales by 12% to 6.4 million units next year. Group chairman Chung Mong-koo and heads of overseas operations posted the sales target during a recent meeting, according to the Korea Economic Daily which cited an unnamed executive.

The group expects to sell 5.7 million vehicles this year, although the automaker had not finalized its 2011 sales target, adding that a figure will be announced late this month.

Hyundai has recently sold its 500,000th vehicle on the US market, breaking the 500,000 barrier for the first time. The company has increased its sales target for next year to 530,000 vehicles, eclipsing the previous high of 467,009 achieved in 2007.
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