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Hyundai to Restart Sales of Imported Vehicles in China

Hyundai Motor Group will resume sales of imported vehicles in China after a three-year hiatus that was due to poor performance at its joint ventures in the country, Yicai Global learned from the South Korean auto giant. Hyundai will begin presales of the first model, the Palisade sport utility vehicle, at the Beijing International Automotive Exhibition next month, the Seoul-based company said on Aug. 1. Hyundai will also build its first sales network in China to replace dealers. The Palisade debuted in November 2018, and last year sold 100,000 units worldwide, mainly in South Korea and the US. The firm has not revealed the latest pricing of the vehicle in Chinese market. Hyundai entered China in 2002 by setting up two joint ventures, Beijing-Hyundai Auto and Dongfeng Yueda Kia. Sales at both fell last year, with Beijing-Hyundai Auto suffering a 9.4 percent drop to 716,000 units and Dongfeng Yueda Kia down 22 percent at 289,000, driven by an overall market slump. China’s imported car sa...