1/11/2024 0 Comments 03 hyundai car models![]() To that end, it will reduce its small to mid-sized vehicle lineups to eight models from 13. The company is looking to sell another factory in China, while focusing on premium cars, SUVs and high-performance N-brand models, as well as EVs. “We expanded our SUV lineups to cater to local consumers and strived to reestablish our brand image,” said a Beijing Hyundai official. To fight the slump, it sold one of the JV’s five factories in the country in 2021 to lift productivity, while expanding the lineups of large-size models and electric vehicles. Some industry watchers noted that Hyundai failed to keep up with the new trend in the Chinese car market, where premium models have been taking a bigger share than before.Ī Kia factory at Gwangju Autoland, South Korea (Courtesy of Hyundai Motor Group) That contrasted with 10.8% and 2.2% rises in North America and Europe, respectively, during the period. Particularly, its 2022 sales in China dwindled 70.4% compared to 2018. In both 20, its sales plunged by double digits after China restricted imports from South Korea in retaliation for Seoul’s 2016 decision to deploy a Terminal High Altitude Area Defense (THADD) alongside the US. Last year, the China JV sold just 256,400 units, with its market share tumbling to the one percent range. But it suffered sluggish sales in the country after they peaked at 1.13 million units in 2016. But it may signal Hyundai’s turnaround in the neighboring market. The figures are in contrast to an estimated 8.8% rise in new vehicle sales in China over the same period.īeijing Hyundai’s first-half sales volume represents just one-fourth of its record sales in 2016. Toyota suffered a 2.8% drop in China sales during the period, while Volkswagen’s sales were estimated to dip one percent. saw their first-half sales in China fall 22% and 24.4%, respectively. ![]() ![]() Kia's all-electric SUV EV5 concept car was unveiled in March 2023 “It is an inspiring result in China, where homegrown brands such as BYD and Chang’an are raising their market share, whereas imported brands are struggling with falling sales,” said an automobile industry source. The sales growth looks encouraging for the South Korean carmaker, especially as its global rivals such as Honda Motor Co. In 2013, its first-half sales leapt 37% on-year in China. It is also the first time its first-half China sales grew by double digits in a decade. It marked the JV’s first gains in China since 2019, when its sales volume inched up 0.5% on-year there. has broken out of its slump in China, with its Chinese joint venture posting its first sales growth in four years in the world’s largest automobile market.īeijing Hyundai Motor Co., a joint venture between BAIC Motor and Hyundai Motor, recorded a 13% jump in China sales to 123,259 units in the first half of this year from the year previous, according to Beijing Hyundai on Sunday. I understand that I may at any time withdraw my consent.Hyundai SUV Mufasa, designed to target Chinese drivers, was unveiled at Shanghai Motor Show 2023 in April I understand that information may be shared with the Hyundai service providers described in the Privacy Policy for these purposes. ![]() and Hyundai dealers using the personal information that I have provided in order to contact me via channels other than e-mail and other commercial electronic messages covered by applicable anti-spam law about services, surveys, marketing material, product information, promotions and offers which may be of interest to me and about any other matters described in Hyundai Auto Canada Corp.’s Privacy Policy. ![]() I understand that at any time I may withdraw my consent to receiving e-mails and other commercial electronic messages. (135 Liberty Street, 2nd Floor, Toronto, Ontario M6L 1A7) sending me such communications in the event that I am or become an owner of a Hyundai vehicle, which is supplied with a Sirius XM trial subscription. (123 Front Street West, Suite 1900, Toronto, Ontario M5J 2M2) sending me e-mails and other commercial electronic messages covered by applicable anti-spam law about services, surveys, marketing material, product information, promotions and offers that may be of interest to me and about any other matters described in Hyundai Auto Canada Corp.’s Privacy Policy, and I also consent to the use by such entities of the personal information I have provided for these purposes. I consent to Hyundai Auto Canada Corp., Hyundai dealers and Hyundai Capital Canada Inc. ![]()
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