The Korea Herald

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Hyundai aims to sell 100,000 Mistra cars in China next year

By Korea Herald

Published : Nov. 18, 2013 - 19:45

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BEIJING (Yonhap News) ― Hyundai Motor Co., South Korea’s top carmaker, expects to sell 100,000 Mistra sedans in China next year, a company official said Monday, as it seeks to tap into China’s growing middle-class market.

The Mistra, which is being made solely for the Chinese market, is set to hit showrooms in the country Tuesday, and Hyundai will show off the new model at an annual auto show in Guangzhou, China’s southern industrial hub, this week, said the official at Hyundai’s Chinese unit.

“We plan to sell 10,000 Mistra cars this year and 100,000 units next year,” the official said, asking not to be identified as he was not authorized to speak to the press.

Prices of the Mistra sedan range from 150,000 yuan ($24,600) to 190,000 yuan. The new model is offered with either a 1.8-liter or a 2-liter gasoline engine.

In the first nine months of this year, Hyundai saw its sales in China jump 28 percent from a year earlier to 760,916 units.

Beijing Hyundai Motor Co., a joint venture between Hyundai and Beijing Automotive, operates three assembly plants in Beijing, where it is set to finish the ongoing expansion of its third plant by next year.

Hyundai will have an annual production capacity of 1.05 million units when the expansion is completed.