Hyundai Mobis to post higher growth in China

South Korea’s largest auto parts maker Hyundai Mobis Company will continue to see its sales in China rise this year thanks to the strong performance of South Korean car manufacturers in the world’s largest car market, Yonhap reported Tuesday quoting company officials. Buoyed by solid growth sales by its affiliated automakers in China, Hyundai Mobis will post higher bottom-line growth this quarter, said the officials at Hyundai Mobis. Hyundai Mobis, an affiliate of Hyundai Motor Company and Kia Motors Corporation, will continue to grow in China with its first quarterly module sales of 2013 likely to top US$2 Billion, the company officials said. The Chinese unit of Hyundai Mobis is fully owned by the South Korean auto parts maker. It supplies to the factories locally operated by South Korea’s two leading car makers Hyundai Motor and Kia Motors. Hyundai Mobis’ sound growth in China will be backed by Hyundai Motor’s expanded capacity due to the opening of a third China plant, which started in July of last year, as well as solid roll-out effects at Kia Motors following the launch of the K3 last September.