Shanghai June 27th, 2017 ZXZC-Beijing Hyundai met its hardest time since the past 15 years in March this year with halving sales volume compared with year-on-year data. Political incidents, as well as the false estimation on opponents and product positions, all result in the defeat.
Beijing Hyundai has a total sales volume of 266,200 units from January to May, decreasing 37.4% year-on-year and accomplishing only 21.3% annual targets.
The fast growth of self-independent brands makes it difficult for joint-venture brands, including Beijing Hyundai. But the lack of innovation and foresight is also an important reason for Beijing Hyundai’s failure.
Currently, youngsters who purse for individuality are the main consumers in domestic auto market. The high cost-performance products under Beijing Hyundai seem to lose their competitive power in the market. Besides, Beijing Hyundai has not predicted the fast growth of SUV markets and MPV markets correctly, which also makes it slow in market response. Only three SUV products under Beijing Hyundai have been launched into market in two years, falling behind with other joint-venture brands, let alone the self-independent brands.
In fact, the auto market is facing a great revolution, with the connected vehicles being the new trend. But Beijing Hyundai has not made any arrangement on BEV market yet. If Beijing Hyundai would make out some leading alternative energy models, there are some possibilities that it would turn the tables.