Hyundai announced it will increase its dealerships in China to 1,000 by the end of this year and build its fourth and fifth plants in the country in the next two years.

Kia, a key marque under Hyundai, will increase its dealerships to 885 this year. Hyundai's joint venture with BAIC has seen its dealerships increase from 802 in 2012 to 920 in 2014.

The South Korean auto company is likely to become the second-largest company in terms of its number of dealerships, following SAIC's joint venture with GM with 1,296 outlets.