Hyundai's sales in China sets highest record in Jan.
South Korea's biggest automaker Hyundai Automotive Group's sales in China reached a record high of 42,790 units in January, up 35 percent from a year earlier, said Hyundai on Monday.
The rise in Hyundai's sales is attributed to the lowered tax on vehicles with smaller than 1.6-liter engine displacements in China and the companies' quick responses to the changes in China's market, said Hyundai at a news release.
On Jan. 20, the Chinese government lowered the tax imposed on automobiles with engine displacements smaller than 1.6 liters from 10 percent to 5 percent.
Hyundai said that its goal of the year is to increase Beijing Hyundai's sales by 22 percent.
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