AUTOSHOW-Hyundai raises its '09 China sales growth forecast

SHANGHAI, April 20 (Reuters) - Hyundai Motor Co <005380.KS>,
South Korea's top automaker, has raised its sales growth forecast
for China this year to 36 percent from 22 percent as economic
stimulus measures spur demand in the world's largest auto market,
an executive said on Monday.
Hyundai's 2009 unit sales forecast in China was raised to
400,000 units from 360,000, compared with the previous year's
294,508.
The target does not include imported cars, a company
spokesman said, adding that the South Korean automaker expects to
import 30,000 cars into China this year, up from 25,000 in 2008.
"Judging from the data so far, China's economic stimulus
policies seem to be working, at least for the auto industry,"
Beijing Hyundai Motor Co President Noh Jae Man told a group of
reporters on the sidelines of the Shanghai Auto Show.
Beijing Hyundai is a 50-50 joint venture with Beijing
Automotive Industry Holdings, a partner of Daimler AG
and parent of Beiqi Foton Motor Co <600166.SS>.
Noh added that he expected the overall Chinese car market to
grow 10 percent this year.
(Reporting by Chang-Ran Kim; Editing by Edmund Klamann)
((edmund.klamann@reuters.com; +86 21 6104 1799; Reuters
Messaging: edmund.klamann.reuters.com@reuters.net))
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Keywords: AUTOSHOW/HYUNDAI

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