Beijing Hyundai Raises 2010 Sales Forecast

Beijing Hyundai Motor Co Ltd. increases its 2010 sales forecast for the second time in two months and projects full-year deliveries of more than 700,000 vehicles.

In November, President and CEO Noh Jae-man forecast annual sales of 690,000 units, a 21% jump from the 570,000 sold in China in 2009.

In a statement, Noh says the auto maker’s strong performance was the result of demand for newly introduced models, including the Verna compact and the ix35 cross/utility vehicle.

BHMC will introduce its all-new Sonata midsize sedan in China early next year, to sell alongside the current-model Sonata.

The auto maker, a joint venture between Hyundai Motor Co. Ltd. and Beijing Automotive Industry Holding Co. Ltd., is operating at 100,000 units beyond the 600,000 annual capacity of its two plants through maximum overtime scheduling.

It will be more than one year before BHMC’s third plant, now under construction in Beijing, adds an additional 400,000 units of capacity, bringing the auto maker’s total annual capacity to 1 million.

Beijing Hyundai says strong demand for newly introduced Verna.