BEIJING, Feb. 13 (Xinhua) -- Zhejiang Geely Holding Group and Beijing Hyundai Motor, two automobile companies in China, posted outstanding performances in the first month of 2019.
According to Geely, its auto sales hit record high at 158,393 vehicles in January, up two percent year-on-year, contributing more than ten percent of the group's annual sales target of 1.51 million vehicles for 2019.
The sales also included LYNK&CO cars sold by a joint venture in which Geely owns 50 percent of equity, according to Geely.
In January, Beijing Hyundai Motor achieved sales of 110,316 vehicles, up 47 percent year-on-year, marking its best sales performance since 2017.
Beijing Hyundai Motor is a joint venture between the Republic of Korea's (ROK) largest car manufacturer Hyundai and China's Beijing Automobile Industry Holdings Co. Ltd.
It is noted that the production and sales volume of China's automobile has dropped 4.2 percent and 2.8 percent year-on-year in 2018 respectively, presenting great development pressure for the automobile industry, according to China Automobile Industry Association.
China's government authorities including China's National Development and Reform Commission (NDRC) have jointly issued an implementation plan on January 29, 2019 to promote the economic efficiency for China's automobile industry.
Under the plan, China will make efforts to support the sales of new energy vehicles with advanced comprehensive performance and to encourage the development of high-tech new energy vehicles. (Edited by Jiang Feifan)
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