· Hyundai Kia repurchase price to win back China SUV market

Korean media reported that following Hyundai Motor, Kia Motors also announced that its SUV cars have been greatly reduced in price to achieve the goal of bailout. Some analysts believe that it is precisely because Chinese car companies have increased their competitiveness through price cuts, resulting in more and more fierce competition in today's SUV cars. The sales of the same cars in Hyundai and Kia have also been greatly reduced, which forced them to do This decision was made. If Hyundai and Kia can seize the opportunity to launch the new Tucson and the new K5 in September and October, it is possible to raise the market share that had previously fallen to 7% to double digits.

The old Lions (Sportage) price cuts nearly 50,000 yuan. Kia Motors dealers in China Dongfeng Yueda Kia Motors announced that starting from August 7, Lionage (Sportage) will cut the price by about 50,000 yuan, a drop of more than 30%, after the price reduction The price is 10.98 to 146,800 yuan. Kia also lowered the price of South Korea's Zhirun by 20,000 yuan. The original 164,800 yuan of Zhishen Motors now only needs 144,800 yuan.
Hyundai Motor's distributor in China, Beijing Hyundai, also announced that since August 5th, the price of Shengda Auto in the Chinese market has been lowered by RMB 1-3 million, while the price of Shengda Auto before the downgrade was RMB 310,000.
The price cut is also the biggest price cut in Hyundai-Kia Motors since 2002. Some analysts believe that Hyundai Kia's move is to pave the way for the release of new cars, and at the same time promote the sales of old cars. Hyundai also plans to launch a new Tucson in the Chinese market next month, which was launched in South Korea in March. Kia also plans to release a new lion run early next year to save the market.
Analysts believe that Hyundai Kia has limited price cuts to SUVs because the Chinese market, which is centered on SUVs, is undergoing dramatic changes, and this strategy is aimed at the Chinese market. According to the data, China's auto sales in the first half of this year was 10.9 million, an increase of 4.8%. Among them, the number of cars that accounted for half of the sales volume was 57.80 million units, a decrease of 5.9% year-on-year. The SUV was hot, with sales volume reaching 2.66 million units, a year-on-year increase of 45.9%.
Affected by the hot SUV, Chinese auto companies that have adopted a low-cost SUV strategy have tasted the sweetness. The market share in the first half of this year has increased from 26% to 32%. In the first half of the year, the Great Wall Motor Haval H6, which occupied the throne of SUV car sales, sold a total of 172,000 units, priced at 145,800 yuan. The sales price of the third-grade Jianghuai Automobile S3 was 8.48 million yuan, only half of the original price of the lion running car.
By the first half of this year, the market share of Hyundai-Kia Motors, which was at a disadvantage in the price war, fell from 10.4% to 9.2%. Compared with last year, sales in June and July have been reduced by about 30%, which is not a small blow to Hyundai Kia.
Introducing more new cars in China On the other hand, Volkswagen and other European and American companies have also joined the price war. GM has adjusted the price of its 11 cars, with a price cut of 1-5.4 million. Hyundai Kia’s insider said: “After the Chinese car companies launched this price war, the world’s major automakers have also begun to cut prices. Hyundai is joining the price reduction army in the event of a last resort. But the price cut will not be ours. The only means is that Hyundai Kia will adopt a medium- and long-term strategy to expand its dealer network."
Hyundai-Kia plans to introduce more new cars to the market in the peak season of cars starting in September. Especially the Mid-Autumn Festival and National Day holidays have become the first choice for car companies. Hyundai-Kia has also launched a diversified car lineup in order to regain the market, such as the new Tucson in September, and the new K5 in October is their main target. At the same time, Hyundai-Kia will launch 4 or 5 specially customized products to China every year. Cars range from cheap small SUVs to cars to premium cars.
At the same time, Hyundai-Kia will increase its original 1,700 dealerships to approximately 2,000 in the next year, and further expand its sales network while ensuring the number of dealers in the Midwest and small cities.

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