AutoBeta(AutoBeta.net)03/13 Report--

Beijing Hyundai has also begun to "cut prices and promote sales". On March 13, Automotive Industry concern learned from Beijing Hyundai officials that Beijing Hyundai has launched an official subsidy campaign, with comprehensive subsidies ranging from 150-55000 yuan to a maximum of 55000 yuan, of which manufacturers subsidize between 10, 000 yuan and 30, 000 yuan. After the comprehensive discount, the cheapest Elantra starts at 74800 yuan after subsidy.

Judging from the preferential information pictures released by manufacturers, this subsidy includes two parts: direct subsidy from manufacturers and profit concession from dealers. The subsidy covers the whole country, and the subsidy deadline is March 31. The subsidy involves all-line models of Beijing Hyundai, including Shengda Traveler, Tusheng L, Sonata, ix35, Elantra, Kustow, Festa N Line, Mingtu and other models.

Specifically, Beijing Hyundai fourth-generation Shengda travelers (official guidance price is from 202800 yuan) cash discount of 55000 yuan, of which the manufacturer directly subsidizes 30, 000 yuan and the dealer gives a profit of 25000 yuan; the fifth generation Tusheng L (official guidance price is from 161800 yuan) cash discount of 38000 yuan, of which the manufacturer directly subsidizes 18000 yuan and the dealer gives a profit of 20, 000 yuan The cash discount of the tenth generation Sonata (official guidance price is 161800 yuan) is 32000 yuan, of which the manufacturer directly subsidizes 10, 000 yuan and the dealer gives a profit of 22000 yuan; the new ix35 (official guidance price starts from 129800 yuan) cash discount of 30, 000 yuan, of which the manufacturer directly subsidizes 13000 yuan and the dealer gives a profit of 17000 yuan The cash discount of the seventh generation Elantra (official guidance price is 99800 yuan) is 25000 yuan, of which the manufacturer directly subsidizes 10, 000 yuan and the dealer gives a profit of 15000 yuan; Kusto (official guidance price is from 169800 yuan) cash discount of 25000 yuan, of which the manufacturer directly subsidizes 20, 000 yuan and the dealer gives a profit of 5, 000 yuan Festa N Line (official guidance price from 138800 yuan) and new generation name map (official guidance price from 133800 yuan) both offer a discount of 15000 yuan, of which the manufacturer directly subsidizes 10, 000 yuan and the dealer gives a profit of 5, 000 yuan.

Beijing Hyundai was founded on October 18, 2002, jointly funded by Beijing Automobile Investment Co., Ltd. And Korea Hyundai Automotive Co., Ltd. As a 20-year-old joint venture car company, Beijing Hyundai's development in China is not smooth. Data show that before 2016, Beijing Hyundai occupied the domestic passenger car market because of its cost-effective performance. From 2013 to 2016, Beijing Hyundai sold 1.03 million, 1.16 million, 1.06 million and 1.14 million vehicles, respectively. 2016 was the peak of Beijing Hyundai's development history, but sales have been depressed since then, with sales of 755659 vehicles, 782163 vehicles, 685126 vehicles, 384782 vehicles and 359851 vehicles respectively from 2017 to 2021. The concern of the automobile industry has previously been reported that for the continued decline in sales of Hyundai in Beijing, people in the industry believe that Beijing Hyundai does not innovate in strategy and models according to changes in the market, and the process of localization is relatively slow. at the same time, too many similar models have been introduced, resulting in uneven distribution of marketing resources while unable to quickly respond to changes in the market.

According to the official website, Beijing Hyundai's cars currently on sale include Mingtu, Elantra, Sonata, Yuehua, Festa, Yuetong, SUV Tusheng L, ix35, ix25, Shengda, MPV Cousteau and other models. Although Beijing Hyundai has a lot of models on sale, there are only three volume models: Elantra, Tusheng L and ix35. According to the new car traffic insurance data, the total annual sales of Beijing Hyundai in 2022 was 260390, down 31.96% from the same period last year. Among the subdivided models, Elantra's cumulative sales were 100718, which was the highest in Beijing Hyundai, accounting for 38.67% of the total sales. This was followed by Hyundai ix35 (65449), Beijing Tusheng L (38894), Yuetong (24707), and other models, such as Sonata (5260). Acceptable was 36796. There are only 736 modern ix25.

According to Beijing Hyundai's development plan, Beijing Hyundai will achieve full hybrid fuel vehicles by 2025, and build a hybrid product matrix of one MPV, two cars and three SUV models in the next 3-5 years, achieving the annual production and sales of 300000 hybrid products, so as to return to the annual sales target of more than 500000 vehicles.

As for the current "price reduction promotion", is it helpful for the improvement of modern automobile sales? It can only be said to help, but it may not mean much. At present, domestic car companies are experiencing an unprecedented "price war". There is a trend of overall price reduction in the car market. According to incomplete statistics, more than 30 car brands, including Mercedes-Benz, Buick, Honda, Roewe, Citroen and BYD, are participating in "price reduction promotion" activities through factory subsidies or price cuts by dealers, involving more than 86 models. Of course, the trend of price reduction is bound to have a certain impact on the automobile industry. Industry insiders said that in the price war between car companies and dealers in the first half of this year, the price of old fuel vehicles may be further explored due to the clearance of inventory. Other fuel vehicles and new energy vehicles will not be spared, but compared with the rapid growth of new energy vehicles, the traditional fuel vehicle market will face greater growth pressure.

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