AutoBeta(AutoBeta.net)02/01 Report--

Hyundai Motor Group recently released its 2019 results report, thanks to the strengthening of the product camp and the increase in sales of SUV models, Hyundai Motor's operating income in 2019 was 105.79 trillion won, up 9.3% from the same period last year, while operating profit was 3.68 trillion won, up 52% from the same period last year.

Although operating profit is up sharply from the same period last year, Hyundai's global sales are not optimistic, with figures showing that Hyundai's global cumulative sales in 2019 were 4.43 million, down from the global sales target of 4.68 million set at the beginning of 2019 and down from 4.59 million in 2018.

Despite Hyundai's poor performance in major markets, Hyundai still sets a sales target of 4.58 million vehicles in 2020, of which Hyundai will challenge its annual sales target of 750000 vehicles in China in 2020.

Beijing Hyundai sold 686390 vehicles in 2019, down 13.1 per cent from 790177 in 2018, according to the Federation of passengers. The decline in sales has directly dragged down the profitability of Beijing Hyundai, which posted a revenue of 2.76 trillion won and an operating loss of 125.3 billion won (about 755 million yuan) in the third quarter of 2019.

Beijing Hyundai was once one of the most popular joint venture brands in China, with sales figures showing that Beijing Hyundai sold 1.03 million, 1.12 million and 1.06 million cars respectively from 2013 to 2015. Sales of Hyundai in Beijing peaked at 1.14 million in 2016. In 2017, Beijing Hyundai's sales began to decline, with sales of 790000 vehicles for the whole year, down 31.3% from the same period last year. Sales in 2018 were only 790000, up 0.7 per cent from a year earlier.

The reason why the sales volume of Hyundai in Beijing continues to decline, in addition to the decline in sales caused by the grim automobile markets at present, Beijing Hyundai has fallen into a crisis because of its low product strength, declining brand influence and product quality. there is a growing gap between Beijing Hyundai and German, Japanese and other models.

To boost sales growth, Beijing Hyundai said it would launch the 10th generation Sonata, Festa EV, new MPV and new Elantra models in 2020, with the new Sonata expected to go on sale in April and the Festa EV in the first quarter. At the same time, it will further boost the sales of electric cars, adding hybrid and plug-in hybrid SUV models to its best-selling models, including Hyundai Tusheng and Hyundai Santa Fe. According to Hyundai's plan, 44 electric models will be launched by 2025, including 13 hybrids, 6 plug-in hybrids, 23 pure electric vehicles and two hydrogen fuel cell electric vehicles.

In 2020, the major automobile market is still in the doldrums, coupled with the spread of the epidemic, it is expected that the sales of major car brands will decline to varying degrees in 2020. For Beijing Hyundai, it is still necessary to improve product quality and product power in order to increase Hyundai's sales in the Chinese market and alleviate the current situation of continuous decline in car sales.

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