Hyundai Posts First China Sales Drop Since 2007 on Shift to SUVs
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Hyundai Motor Co. posted its first annual sales drop in China since 2007 as a slowing economy and shift in consumer preferences to cheap sport utility vehicles hurt demand for its sedan-heavy lineup.
Deliveries fell 5.1 percent to 1.06 million vehicles last year, the company said in a statement. Toyota Motor Corp. surpassed the South Korean automaker in China, after boosting sales 8.7 percent to 1.12 million units.