In September, China’s automobile sales fell again by 6.5 percentage year on year, as of the third quarter, total domestic passenger cars sold in the narrow sense 14.78 million new cars, down 8.6 percentage year on year, winter still. The decline in the automobile market is facing not only the Chinese market, sales in several major global markets are not the economy.
On the current global market, China, the United States, Europe, India and other major markets, car sales are continuing to fall, although the Japanese auto market sales are still growing, but in the face of the consumption tax rate increase, Japan automobile market is also huge pressure.
but the overall downturn in the larger environment, record car prices are still some very rosy. 2019 third quarter, Hyundai Motor realized revenue of 26.97 trillion won (about 162.5 billion yuan), an increase of 10.4 percentage, net profit of 460 billion won, up 50.5 percentage.
that, for Hyundai Motor, its main profit growth Where? The face of the auto market remains grim environment, whether Hyundai can sustain this momentum?
There are many reasons for the rise in profit
From the overall data, the sales performance has been good domestic market, Hyundai Motor’s sales were flat to the base and, after the adjustment of industrial structure, US sales also improved significantly, but in China and India, the two major markets, Hyundai’s performance is still unsatisfactory.
in the Korean domestic market, due to various reasons policy, such as consumer attitudes, Hyundai’s performance has been good, although the domestic market in the third quarter sales fell 4.7 percent, but the main reason is SUV, updating the impact brought about in the long run still showed positive momentum.
In the US, data from the previously announced term, Hyundai Motor has more than 10 consecutive months to maintain growth momentum, even in this SUV models like the US market, Hyundai is also working on behalf of the SUV and the proportion of cross-class continue to improve to meet the needs of the market.
in most major US, China and South Korea, Hyundai Motor three major markets, only the Chinese market more difficult. In September, Beijing Hyundai sold 68,644, up nearly 15 percentage decline in the current auto market this cold environment, although Festa, leading move, sales of several models ix35 which can, but the overall data is still relatively bleak, January to September, Beijing Hyundai cumulative sales of 45 million units, the annual target of 900,000 basic hopeless.
and rising profits, mainly due to the following several aspects. New models and to allow the North American market at a higher profit selling SUV, Hyundai Motor achieved higher profits; due to the large decline in the won, which makes South Korean exports more cost-effective products in overseas markets; last year, Hyundai the car was plagued by engine problems and airbags, resulting in a substantial decline in its profits, the low comparison base also its profit rose in the third quarter of this year one of the reasons.
China market to focus on adjusting the target
from Hyundai Motor first half earnings point of view, North America market and the Chinese market, are facing large adjustment, and after adjustment for the North American market the product lineup, from the nearly two-month sales performance point of view, indeed, while Hyundai Motor sales increase once again raise profits, and that Hyundai Next the main goal, in fact, is to adjust the Chinese market.
From the beginning of last year’s Festa listed, Beijing Hyundai in the domestic market has already begun a new era, with Festa, leading move, ix35 that several new models of actual market performance, for example, with more multi-localization model introduction, on the good reputation of this modern car again so that consumers are willing to pay for it.
in the next two months, Beijing Hyundai will also launch six models, including the new leader move, pleasing facelift and a new generation ix25 upgrading of these three products, as well as leading move PHEV, Ang Xinuo pure electric, EV Festa three new energy vehicles. Shuffled around outside the traditional fuel vehicles accumulated a good reputation in the market, these pure electric model parameters are also brisk.
China market can only be considered Hyundai product structure adjustment microcosm of today’s Hyundai Motor Group will continue working to improve sales of construction products, to SUVNew energy vehicles, high-end cars and other high profitability models for resource tilt, in overseas markets, also through the introduction of more SUV models and adjusting the production structure to continue to expand profits.
written in the last
influenced by public opinion, in the minds of many Chinese consumers, Chinese auto automobile industry has surpassed South Korea, Korean cars have become the last flow of products, but actually they are not. Whether the product of force or profit performance this year, Hyundai Motor will produce a very brisk answer, although a number of challenges in today’s sluggish automobile market environment, but as it continued to adjust, especially in Chinese market after adjustment for the focus of the future performance of modern cars the same concern.