Korea's leading automaker Hyundai Motor Co. posted the highest sales growth rate among the top five carmakers in China last month, boosted by brisk shipments of its new models, industry sources said Sunday.
Hyundai Motor ranked as the No. 4 seller in the world's largest automobile market in October by shipping 80,598 vehicles, up a whopping 36.6 percent from the same month a year earlier, according to the sources.
Hyundai Motor's sales growth rate was much higher than that of Shanghai Volkswagen Automotive Co. and the three other top-selling automakers, which ranged from 31 percent to 13.8 percent.
Strong sales of Hyundai Motor's subcompact sedan, the Langdong, led the automaker's stellar performance in October. Hyundai Motor sold 18,207 units of the Langdong, which was launched in China in August, up from 15,243 units a month earlier.
Shipments of its ix35 sports utility vehicle also jumped 64.5 percent on-year to 12,519 units last month, contributing to the overall sales growth.
"Hyundai Motor chalked up good results last month thanks to brisk sales of the Langdong and ix35," a company official said. "We will be able to cope with growing car demand in China on the launch of competitive new models and the completion of a new plant."
In July, Hyundai Motor dedicated its third Chinese plant in Beijing, which has an annual capacity of 300,000 vehicles, boosting its overall annual capacity in China to 1 million vehicles.
Hyundai Motor has been expanding its profile significantly in China since 2002 when it established Beijing Hyundai Motor Co., a 50-50 joint venture with local partner Beijing Automotive Co.
Meanwhile, Hyundai Motor's smaller affiliate Kia Motors Corp. sold 45,005 vehicles in China last month, up 9.7 percent from a year earlier. Hyundai Motor and Kia Motors are the flagships of Hyundai Motor Group, the world's fifth-largest automaker.
In contrast to Korean carmakers' strong performances, sales of Japanese brands tumbled to 111,000 units in October from 246,000 units a year earlier due to the outbreak of anti-Japanese sentiment in China sparked by a territorial dispute, according to the sources. (Yonhap)