Beijing Hyundai, which has nearly 20 models on sale, only announced sales of 3 models in 2021.
Among them, the cumulative sales of the seventh-generation Elantra exceeded 130,000 vehicles in the whole year; the cumulative sales of the new ix35 were 82,924 vehicles; and the newly launched Kustu, which only sold 7,967 vehicles in three months. How much of the other models will sell in 2021, I don't know.
We all know that Beijing Hyundai's life is not good, but I did not expect that in 2021, Beijing Hyundai's annual cumulative sales have not been revealed.
Public data shows that in the first 11 months of 2021, beijing hyundai's cumulative sales of only 320,000 vehicles, down 33.95% year-on-year. Eleven months later, Beijing Hyundai's sales target of 560,000 vehicles was only 58 percent completed. In 2021, Beijing Hyundai's decline is even worse than in 2020.
Judging from the sales data released by Beijing Hyundai, Elantra, ix35 and Tucson L are the main sales force of Beijing Hyundai. Among them, the seventh generation of Elantra contributed nearly 1/3, and ix35 contributed nearly 1/4. The Elantra became the only model in Beijing Hyundai that sold more than 10,000 copies.
Similar to 2020, the new cars introduced by Beijing Hyundai in 2021 still have not made any waves. Even the cumulative 2021 sales of the new Name Map and the new Tucson have not been announced.
But the data for the first 11 months shows that the monthly sales of the new famous chart that went public in March last year have been hovering in the triple digits. The new generation of Touring, which went on sale in April, averaged just over 1,200 units a month from May to October. The new MPV, Kustu, which went on sale in September, sold less than 3,000 units per month.
In the past two years, Beijing Hyundai has launched a number of "blockbuster new cars" and the latest generation of powertrain technology, such as the new Sonata, the new Elantra, the new Mingtu, the new Tucson and the new Kustu, but only the Elantra barely agreed with expectations, and together with ix35 supported the sales of Beijing Hyundai.
In the past two years, Beijing Hyundai, whose sales have been declining continuously, has adopted a variety of measures such as layoffs, factory closures, launch of new products, and replacement of conventional teams to save the decline. However, the operating conditions of Beijing Hyundai have not been significantly improved.
In stark contrast to Beijing Hyundai, "North-South Volkswagen", "North-South Toyota" and "North-South Honda" are still hot sellers and firmly control the head joint venture market. Sales of Geely, Great Wall, BYD and Chang'an continued to rise, becoming the first group in the autonomous camp. But Beijing Hyundai has long lost its former market competitiveness.
Behind this, the brand and technical advantages of "one group and two fields" have been further amplified. The texture and design of the products displayed by Geely, Great Wall and Chang'an have also won the favor of many consumers. Bydir's technical sign in the field of electrification is even more deeply rooted in the hearts of the people. In contrast, Beijing Hyundai's brand appeal and technical distinctiveness are much dimmer, and it is difficult to regain the market competitiveness of the past.
Although it "hides" sales, Beijing Hyundai cannot hide the difficult market situation. According to the statistics of 360,000 vehicles in the whole year, the capacity utilization rate of Beijing Hyundai is only 1/4, which is lower than last year's 30.4%.
In November last year, it was revealed that due to the sharp reduction in orders from Beijing Hyundai's Chongqing factory, Chongqing Runchang Automotive Interior System Co., Ltd., as a supplier of Beijing Hyundai, will take a three-month holiday from October 29, and the follow-up working hours are unknown.
Earlier in June, it was revealed that Ideal Automobile will invest 6 billion yuan to take over the plant and land resources of Beijing Hyundai No. 1 Factory and invest in the construction of Ideal Automobile's global flagship factory. At present, the ideal car has been successfully taken over, and the construction of smart factories is steadily advancing.
After the first factory was acquired by ideals, Beijing Hyundai was exposed that the second factory would also be listed for sale. Rumor has it that Hyundai motor is negotiating with several Electric Vehicle Manufacturers in China to sell the second plant. Netizens speculated that Xiaomi may become the "receiver" of Beijing Hyundai's second factory. Although it has been refuted by modern insiders in Beijing, whether such news is empty is worth pondering.
In March last year, Xiang Dongping, deputy general manager and sales director of Beijing Hyundai, left Beijing Hyundai and subsequently joined Jiangling Ford, and now becomes the legal person of Jiangling Ford. Following Xiang Dongping, Fan Jingtao, another Chinese deputy general manager of Beijing Hyundai, was also transferred to BEIC Jihu in October as executive deputy general manager. At present, the only Chinese executive left in Beijing Hyundai is Du Junbao, who is the executive deputy general manager. South Koreans have a further increased voice in Beijing's modern decision-making and management.
To be sure, Fan Jingtao's appointment as Jihu shows that BAIC recognizes Fan Jingtao's ability. However, is the BAIC Polar Fox more in urgent need of rescue than Beijing Hyundai, or is the status of the BAIC Polar Fox more important than that of Beijing Hyundai? unknown.
Some media analysts pointed out that the sale of factories, personnel transfers and other actions can be vaguely seen, BAIC Group has a clear attitude towards the follow-up development of Beijing Hyundai.
With the current market competitiveness of Beijing Hyundai, it is increasingly impossible to regain its former glory. More than 70% of idle capacity is also a huge non-performing asset. It is clear that such a company has as much investment value as it can be.
It should also be noted that in 2022, the foreign ownership restrictions in the automotive industry will be fully relaxed. If Hyundai Motor seeks to increase its share ratio with Beijing Hyundai, it will be a good opportunity for BAIC to "withdraw".
Whether the South Korean-in-powered Beijing Hyundai can regain its glory can be seen this year.