AutoBeta(AutoBeta.net)10/05 Report--

On October 5th, South Korea's Hyundai Motor announced global car sales in September. According to the data, global car sales totaled 360762 in September 2020, down 5.3 per cent from a year earlier, while cumulative car sales from January to September 2020 were 2604205, down 19.4 per cent from a year earlier. Hyundai said the decline in sales was mainly due to a slowdown in economic activity caused by the COVID-19 pandemic.

In terms of specific market, sales in Hyundai's home market in South Korea rose 33.8% to 67075 vehicles in September from a year earlier, while sales in overseas markets fell 11.2% to 293682 vehicles.

The domestic market, as Hyundai's largest single market, has not released specific sales figures. However, from the previous data from the Federation of passengers, we can see that the current situation of Beijing Hyundai in the domestic market is not optimistic. Beijing Hyundai ranks last in the top 15 car manufacturers' sales, with cumulative sales falling 31.8% to 452199 vehicles from January to August compared with the same period last year. The decline is also the highest in the top 15.

Under the pressure of declining sales, Hyundai has accelerated its brand and product layout. Hyundai plans to launch nine new models in the Chinese market in 2021. According to Hyundai Motor, in terms of cars, Hyundai launched a new Sonata in China in July, followed by new Elantra, new famous pictures and new Festa; for SUV, Hyundai imported medium and large SUV Palisade went on sale in September, followed by a new ix35 and a new Tusheng; and for MPV, Hyundai will launch a CUSTO model.

As for electric cars, there are three IONIQ-branded models planned to go on sale, namely, IONIQ 5, IONIQ 6 and IONIQ 7. Among them, the medium-sized crossover IONIQ 5 will be launched in early 2021, the all-electric car IONIQ 6 will be released in 2022, and the large SUV IONIQ 7 will be launched in 2024.

Over the past 18 years, Beijing Hyundai's joint venture in China has left an impression on consumers of high performance-to-price ratio. with the label of high performance-to-price ratio, Beijing Hyundai has sold more than 1 million vehicles since 2013, second only to SAIC General Motors, SAIC Volkswagen and FAW-Volkswagen. And maintain annual sales of 1 million taels until 2016. By 2017, Beijing Hyundai's sales suddenly plunged 31% from the same period last year, catching up with the decline and epidemic of the car market for two consecutive years, resulting in a "continuous decline" in its sales.

2020 is indeed a difficult year for Beijing Hyundai. Sales have declined for three consecutive years. What is even more difficult is that Beijing Hyundai has frequently traded prices for volume. In the eyes of consumers, it has become synonymous with cheap brands from mid-range brands. Brand image has suffered a heavy setback.

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