Hyundai Motor to release more SUVs in China to regain momentum

South Korea's Hyundai Motor Co on Tuesday said it began construction on its fifth plant in Chongqing, China, to regain lost momentum in the largest auto market with a new compact car and higher production of sport utility vehicles. Hyundai, which together with affiliate Kia Motors Corp ranks fifth in global sales, has been struggling with slow sales in China partly due to an absence of a new SUV models to compete with its rivals' latest releases. "We have to acknowledge that we will see a lower growth rate and we will need to fend off new challenges from fast-growing domestic Chinese automakers," Hyundai Motor Vice Chairman Chung said at the ground-breaking ceremony.

Hyundai Motor to release more SUVs in China to regain momentum source: http://finance.yahoo.com/news/hyundai-motor-release-more-suvs-070208766.html