Hyundai concept car for China

A new Hyundai Concept car was launched today by Hyundai Motor Co that it has made only for Chinese Auto Market. The retail model of the same will be launched in market by end of present year. The Chinese market at present is the fastest growing market on globe that has left the European and US market far behind.

The Mistra model that has been designed to be positioned between two of Hyundai’s model is larger than Hyundai Elantra in size and minor than Sonata mid-size sedan. It was reported by Reuters last year that Hyundai was in process of developing its China only car through which it planned to tap the potential of middle class segment of China that wanted to afford vehicles that offered a premium feel along with extended spaces. An inside source who had complete information about the model said that the car has been built to rival against the Nissan Sylphy. Nissan Sylphy has been inspired from its smaller vehicle Tiida.

The MIstra concept has been mainly developed with an aim to acquire share in the rapidly growing mid-size vehicles segment that is on boom at present. The car has been built keeping in view the needs and requirements of target customer. The launch of the car is also motivated by the boom in sales that Hyundai registered during the first quarter of the year. Hyundai sales have bloomed to 41 percent and in total traded 260, 716 units. This production level of the company was achieved with the help of the third manufacturing facility that Hyundai began in China last year. By end of this year, the Korean car maker wants to improve its sales figure by 13 percent to 970, 000 units although current analysis assume company to exceed one million vehicles.  

Hyundai along with its associate brand Kia ranks fifth in terms of global sales. The brand out did other brands in European and US markets but was lagging in Chinese market till now. This year however the story reversed and China became the sugar candy for Hyundai. In China, Hyundai works in association with BAIC Group, while Kia works in partnership with Jiangsu Investment Co Ltd and Dongfeng Motor Group Co Ltd.