AutoBeta(AutoBeta.net)08/30 Report--

Hyundai is considering producing a new generation of Avante models at its No. 1 factory in Beijing, according to South Korean media reports. Hyundai, one of the company's best-selling models in China and the global market, hopes the new brand will boost overall sales in China.

An insider close to Hyundai said on August 29th that Hyundai is considering producing a fully new (seventh-generation) Londo model at Beijing's No. 1 plant in the second half of 2020, with an internal project named CN, which will be launched in South Korea in the first half of 2020. This also means that Hyundai is about to return to the Chinese market.

Hyundai Langyou used to be a brilliant legend, after its listing, it swept across four continents around the world to achieve extraordinary sales, especially before 2016, it was absolutely in full swing, and won many car awards, such as the North American COTY Award, Canada's AJAC Best small car of the year, the Middle East MEMA car of the year and so on.

However, with the vigorous development of the automobile industry, rising stars are springing up like bamboo shoots after a spring rain, and Langxin's sales have also been greatly affected, suddenly falling to the altar. Sales have continued to decline since 2017, with sales of less than 10,000 for several months in a row. They were still on sale in April 2018, but they sold only 200 vehicles, down 97.58% from April last year.

As a matter of fact, since Hyundai launched the same class of models in March 2016, it has adopted a preferential strategy in price, so that it can still get a lot of sales. But then it quietly stopped production, precisely because its model has not been changed since 2016, coupled with making way for the lead.

Since February 2017, Beijing Hyundai's sales have started a downward mode, suddenly falling to the bottom. There was a slight pick-up in sales in 2018, showing the dawn of recovery. After entering 2019, sales continued to pick up, with eye-catching year-on-year growth, especially as the car market declined. But from January to July this year, Korean brands accounted for only 4.5% of the domestic market, ranking second in the derivative.

Although Hyundai was once the "king of sales", can it really revive its sales performance in China at a time when the share of sales of entire Korean brands in China is so low?

In addition, as the performance of the Chinese market continues to be sluggish, Hyundai has begun a series of product adjustments and layout reforms in China. In July this year, Hyundai decided to electrify its fifth plant in Chongqing. In the future, the plant's capacity will balance both traditional fuel vehicles and new energy vehicles.

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