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Hyundai deliveries plummet but the bottom may be near
Automotive News China | 2017/12/5

Beijing Hyundai Motor Co.¡¯s November deliveries slumped 25 percent year on year to 95,012 but the company¡¯s sales may be starting to stabilize.

Hyundai¡¯s November sales were 18 percent higher than the company¡¯s October results -- a sign that anti-Korean tensions in China are easing.

In March, Hyundai sales plummeted after South Korea¡¯s deployed U.S.-built antimissile defenses -- a move that triggered anti-Korean sentiment in China.

But tensions eased last month when the two countries pledged to improve bilateral relations at a meeting in Beijing. Chinese tourists are now reappearing in South Korea and China¡¯s central government has toned down its rhetoric.

That bodes well for Hyundai, although it will take time for the company¡¯s sales to rebound. In the first 11 months, sales of Hyundai¡¯s joint venture with BAIC Motor Group Co. dropped 29 percent to 691,000 cars and light vehicles.

Hyundai is launching a subcompact crossover and a seven-seat crossover next year. But its rivals also plan to introduce a wave of new crossovers, so the Korean automaker will have to fight for market share.

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