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According to the Passenger Car Market Information Joint Meeting, in September 2019, Beijing Hyundai sold 68644 vehicles, down 14.2% year-on-year, with a market share of 3.6%; from January to September 2019, Beijing Hyundai accumulated sales volume of 451412 vehicles, down 19.6% year-on-year, with a market share of 3.0%, ranking 14th in the list of passenger car manufacturers in the first September.

Founded in 2002, Hyundai is an early joint-venture brand entering China, with sales exceeding one million vehicles for four consecutive years. On the 18th of this month, Beijing Hyundai No.2 Factory celebrated its 17th anniversary. Beijing Hyundai said that in 17 years, Beijing Hyundai has grown from a factory in production and operation to five factories in three places. Beijing Hyundai currently has five complete vehicle production plants in Beijing Shunyi No.1, No.2 and No.3 factories and Cangzhou and Chongqing in Hebei Province, with an annual production capacity of 1.65 million vehicles. Among them, the total capacity of the three factories in Beijing is 1.05 million vehicles.

The domestic automobile market continued to decline, Korean automobile enterprises Beijing Hyundai and Dongfeng Yueda Kia failed to withstand the pressure, sales appeared a certain extent of decline, the first September sales decline nearly 20%. Hyundai and Kia raised their sales targets for 2019 at the beginning of the year, despite a still-sluggish auto market. For this industry analysis may be related to the number of new cars launched by Hyundai/Kia.

Beijing Hyundai has a brilliant record in the past. In 2013, the sales volume in China exceeded 1 million vehicles for the first time, and 10 million vehicles were successfully rolled off the line by the end of 2018. However, Beijing Hyundai's sales fell to 780,000 vehicles in 2017 and 790,000 vehicles in 2018, and the capacity utilization rate of factories in China has been below 50% for two consecutive years.

In an effort to revive sales, Beijing Hyundai has been rolling out more new models since last year. So far, Beijing Hyundai has 18 models, including cars of all levels, SUV and multi-power new energy products, and its product matrix has been improved. In the second half of the year, Beijing Hyundai will still launch 6 new cars with high density.

Even so, it can be seen that Beijing Hyundai mainly relies on several models such as Leader, Festa and IX35, etc. Sales of middle and high-end models such as Suo Jiu and Mingtu are still depressed, among which Leader, Festa and ix35 sell more than ten thousand vehicles in September. This is mainly due to Beijing Hyundai's initiative to lower the price strategy.

Since the beginning of 2018, Beijing Hyundai has launched a brand-new generation of ix35, 11.99-16.19 million yuan lower than the previous generation of models by 40,000 - 80,000 yuan, which also means that Beijing Hyundai has acknowledged the gap with Volkswagen, Toyota and Honda at the brand level and abandoned the "premium" ability representing the value of joint venture brands. The product strategy of retreating quickly yielded miraculous results. In the first six months of this year, Beijing Hyundai achieved a sales growth of 4% to 351,000 vehicles.

This year is the first year of Beijing Hyundai brand technology, but also a product year. In addition to the all-new Shengda and the new leader that have been launched in the first half of the year, the PHEV, the new Rena, the Oncino EV, the Festa EV, the new ix25 (launched next year), the new Sonata (launched early next year), etc. are ready for launch. At the same time, in order to obtain the long-term development of the future market, Beijing Hyundai has started the electric transformation in China.

Beijing Hyundai previously revealed that it plans to launch nine new energy products by 2020, with the goal of reaching 10% of new energy products by 2020. However, according to the current modern decline, it can be seen that the road to "rejuvenation" is not easy to go, and then we should continue to improve brand power and narrow the gap with Japanese and German car companies.

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