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Kia projects big sales rebound this year
Automotive News China | 2018/1/30

Dongfeng Yueda Kia expects to boost China sales 39 percent to 500,000 vehicles this year as diplomatic relations between China and South Korea continue to thaw.

Kia Motors' Chinese joint venture said it will also launch sales of two new crossovers but did not offer details about the models. 

In the second quarter of 2017, Kia and Hyundai deliveries collapsed after South Korea deployed U.S.-built antimissile defenses -- a move that triggered anti-Korean consumer sentiment in China.

Deliveries at Dongfeng Yueda Kia plummeted 45 percent to 360,006 vehicles last year. But sales began to stabilize in the second half of 2017 after Beijing and Seoul began mending bilateral relations. 

In December, sales at Dongfeng Yueda Kia topped 50,000 vehicles for the second month in a row.

Dongfeng Yueda Kia, based in Yancheng of east Chinas Jiangsu province, is a three-way joint venture between Kia, Dongfeng Motor Corp. and local investment company Jiangsu Yueda Investment Co.

Despite the recent rebound in sales, Dongfeng Yueda Kia factories are running well below production capacity. It operates three assembly plants in Yancheng that can produce up to 900,000 vehicles at full capacity.

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