AutoBeta(AutoBeta.net)10/04 Report--

Good sales data will be released to the public, which is a major law of the automobile industry. Beijing Hyundai released its September sales results on Oct. 1, with cumulative sales of 30023 vehicles for the month, up 18.7% from the previous month. However, Beijing Hyundai did not disclose specific model sales, including the seventh generation Elantra sales of more than 10,000, the fifth generation Tusheng L+ new ix35 cumulative sales of 13000 vehicles, as for other models, sales performance is very dismal.

At present, it is true that only Elantra, Tusheng L and ix35 models support Hyundai sales in Beijing. Taking the August data as an example, Beijing Hyundai sold 25385 vehicles a month, including 10091 Elantra, 7110 ix35 and 3660 Tusheng L. In terms of other models, Yueyong sold 1816, Kustu sold 1571, and Sonata, Shengda and Yuehua all sold more than 300.

On October 18, 2002, Hyundai Group and BAIC jointly established Beijing Hyundai, which became the first Sino-foreign joint venture project in the field of automobile production approved after China's entry into WTO. At that time, the best-selling models on the market were Jetta, Pusan, Xiali and so on, while the Sonata, as the first production car of Beijing Hyundai, sold very gratifying after its listing, reaching 177000 units in the third year on the market, accounting for 10% of the B-class car market. After that, Beijing Hyundai used the shortest time to reach the record of 1 million vehicles produced and sold by domestic automakers, with sales of 1.03 million vehicles, 1.16 million vehicles, 1.06 million vehicles and 1.14 million vehicles respectively from 2013 to 2016, and reached an all-time peak in 2016. it is also one of the outstanding joint venture car companies in China.

At that time, the reason why Korean cars were able to achieve such extraordinary results in China depends on the "cost-effective ratio". However, many years later, Beijing Hyundai wants to rely on "performance-to-price ratio" to obtain the market, obviously can not get through. After 2017, Beijing Hyundai sales have been declining, to 2021, Beijing Hyundai sales have fallen to 360000 vehicles, five consecutive years of decline, and if nothing happens, this year will be the sixth consecutive year of decline.

As for why Beijing Hyundai has come to this end? The level of automobile consumption in China in 2003 is still very low, and the domestic car market is monopolized by European and American brands. The price of a compact car is often more than 100,000, which is not affordable to ordinary consumers, and Sonata is aimed at this market. Sonata continues to sell well after listing, and Sonata can be seen in the streets and alleys. However, with the improvement of consumption level, coupled with the rise of China's own brands, it is impossible to rely on "performance-to-price ratio" to win at this time. In addition, Beijing Hyundai did not innovate in strategy and models according to the changes in the market, and the process of localization was relatively slow, and introduced too many similar models at the same time, resulting in uneven distribution of marketing resources. unable to quickly respond to market changes, which made Beijing Hyundai miss the opportunity for self-innovation, and from the perspective of enterprise development, frequent personnel changes and poor performance often cause and effect each other. It is difficult to get rid of the vicious circle.

In order to save itself, Beijing Hyundai has also adopted a series of hype, but with little success. Starting from 2020, Beijing Hyundai began to upgrade its models, including seven-generation Elantra, brand-new Sonata, brand-new Tusheng L, ix35, Kusto and other models, but except for Elantra, the performance of other models is not optimistic.

In March this year, Beijing Hyundai announced that it had received a joint capital increase from two shareholders, BAIC and Hyundai, with a joint capital injection of 6 billion from both shareholders, and the stock ratio between China and South Korea remained unchanged. This fund will support Beijing Hyundai in promoting electric transformation, product upgrading and optimizing channel layout, which is not only a reassurance, but also a military writ, whether it can restore the market depends entirely on the creation of Beijing Hyundai.

In June this year, Beijing Hyundai announced the change of coach, with Wu Zhoutao, vice president of Beijing Automobile Co., Ltd., as director and executive deputy general manager of Beijing Hyundai. Qi Xiaohui, former deputy general manager and minister of management of Beijing Hyundai, became deputy minister of Beijing Hyundai sales Department.

In fact, like many brands, Hyundai has become unaccustomed in the Chinese market. Not only Beijing Hyundai, but also Korean Jiangsu Yueda Kia's sales in the Chinese market are not optimistic, with cumulative sales of only 88270 vehicles in the first eight months.

In the global market, Hyundai Motor Group of Korea has performed very strongly. Data show that in the first half of 2022, Toyota Group, including Toyota, Lexus, Dafa, Hino and other brands, sold a total of 5.138 million new cars in the first half of the year. Volkswagen Group sales plummeted, falling 14.0% to 4.006 million vehicles compared with the same period last year. Hyundai Motor Group ranked third, with global sales of 3.299 million vehicles in the first half, down 5.1 per cent from the same period last year. Of these, Hyundai sold 1.879 million vehicles and Kia sold 1.42 million.

Today, China is still the largest and fastest-growing automobile market in the world, and at the same time, it is also growing into a powerful car manufacturing power. Hyundai is naturally unwilling to give up such a market. When the market is a good time, how to restore the Chinese market has become a top priority.

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