- Passenger vehicle sales rose for a second consecutive month
- Deliveries in May were boosted by demand for its Tucson SUV
Hyundai Motor Co.’s deliveries in China rose for the second consecutive month in May, helped by discounts on its Tucson sport utility vehicle and a tax cut on vehicle purchases in the world’s largest auto market.
The automaker’s sales in China, its largest market by volume, climbed 25 percent to 100,328 units last month from a year earlier, according to an e-mailed statement on Wednesday. Deliveries were boosted by demand for the Tucson, the Seoul-based company said.
Hyundai has said it will cut costs at its plants in China and step up output of smaller cars and SUVs to take advantage of a tax cut in October. The automaker’s dealers are offering discounts of as much as 11 percent in some cities in China for its Tucson SUVs, according to car-pricing website Cheshi.com.
Sales are still down for the first five months as South Korea’s largest automaker struggles with the shift in buyer preferences away from traditional sedans like the Elantra to roomier SUVs and crossovers.
Hyundai said in April that it has stabilized stockpile levels and increased the utilization rate at its Chinese plants to 93.3 percent in the first quarter. It’s building a fourth factory in the country.