AutoBeta(AutoBeta.net)01/03 Report--

In 2019, Hyundai Kia has set an annual sales target of 7.6 million vehicles, of which Hyundai has an annual sales target of 4.68 million and Kia has an annual sales target of 2.92 million. However, Hyundai and Kia were hit again in 2019 because of tough market conditions and falling profits in China.

At the celebration held by Hyundai Group on January 2, Hyundai Group announced its sales in 2019. Hyundai Kia's global cumulative sales in 2019 were 7.19 million vehicles, down 3% from the same period last year. It has missed its annual sales target for five consecutive years and hit a seven-year low.

Hyundai's two main single markets in the world are the Chinese market and the American market. In the US market, Hyundai Kia has received good feedback in the US market due to the increased demand for SUV models. In the Chinese market, due to the severe market environment and the competition of major car brands, the sales of Beijing Hyundai and Dongfeng Yueda Kia are still not improving, and Hyundai's decadence in the Chinese market has dragged down the growth of the North American market.

The car market will be tough in 2019, but it won't be easy in 2020! In the face of declining sales and a tough market, Hyundai Group lowered its annual sales target for 2020 to 7.6 million to 7.54 million, although it has missed its annual sales target for five consecutive years. Hyundai said that sales in 2020 increased by 350000 in 2019, up 5 per cent from a year earlier.

Zheng Yixuan, executive vice chairman of Hyundai Motor Group, said that 2020 will be the first year for Hyundai to consolidate its future industry leadership, launching more modified SUV models in 2020 and accelerating the promotion of mobile services such as shared travel.

In 2020, Hyundai will add hybrid and plug-in hybrid SUV models to its best-selling models, including Kia Solanto, Hyundai Tusheng and Hyundai Santa Fe. In addition, Hyundai plans to launch 44 electric models by 2025, including 13 hybrids, 6 plug-in hybrids, 23 pure electric vehicles and 2 hydrogen fuel cell electric vehicles. The company has 24 electric models in 2019.

As Hyundai Kia's largest market, Hyundai Kia's global sales have continued to decline since the domestic market declined in 2015. The demand of European market and American market will further shrink in 2020, and the recovery of Chinese market will not be very fast. The global market of automobile market will remain depressed in 2020, which is not a good expectation for the current modern Kia.

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