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Beijing Hyundai sets annual sales target of 900,000 units in 2018

Lydia From Gasgoo| April 18 , 2018

China auto market news, Beijing Hyundai 2018 sales target, Hyundai ENCINO

Shanghai (Gasgoo)- Beijing Hyundai recently released its 2018 sales target of 900,000 units, up 10% compared with last year. According to Fan Jingtao, vice general manager and deputy director of sales department of Beijing Hyundai, since Beijing Hyundai suffered heavy sale drop in 2017, 2018 is a transitional year for Beijing Hyundai to set a prudent annual sales target of less than 1,000,000 units. 

Due to the heavy sales drop in 2017, Beijing Hyundai now is constructing "three vertical and three horizontal" product lineup. The vertical product lineup includes base models, high-performance models and NEV models, while the horizontal products focus on electric technology, intelligent technology and internet connected technology.

To stabilize sales performance, Beijing Hyundai has tried every means in such areas as products, sales system and dealership network. Fan Jingtao said that Beijing Hyundai will stop producing old models if their upgrades have hit the market. 

In the meantime, Beijing Hyundai released an all-new brand strategy last year. As part of the strategy, the Beijing Hyundai ENCINO hit the market, mainly targeting high-performance small SUV market with four variants. In the future, Beijing Hyundai plans to release all-new large-sized SUV models, sedan models and mid-cycle updates of the Tucson. 

Apart from concentrating on the ever hot SUV market, Beijing Hyundai still ramps up the R&D of NEVs. It is said that the Sino-Korea JV will launch the PHEV versions of the Elantra and the Sonata 9, as well as nine NEV models including B-class pure electric sedan models and small pure electric SUV models before 2020. By the end of the 13th Five-year Plan, NEVs will take up 10% of Beijing Hyundai's whole sales.

Industry insiders believed that Beijing Hyundai can gain sales growth via giving top priority to SUV and NEV segments. However, the two segments are crowded with competitive rivals. The differentiation will be the key for Beijing Hyundai to gain sales growth in the future. 

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