|The Accent / Verna was the most popular Hyundai in 2015|
Plant retail sales globally for Hyundai cars were flat for 2015, but an increase of 5.5% for commercial vehicles got the total up 0.3% at just under 5 million units. 18% of all cars were the Verna / Accent model, which passed the usual favourite Avante / Elantra. A new model Avante released in 2015 may redress that for 2016. I counted some models under the Accent total instead of as stand alone models because they are based on the Accent. There are more grey areas now with models.
The compact crossover ix25 seems destined just for emerging markets, as is the Eon city car already. At the other end of the spectrum, things are changing. The Won currency is higher and now there has been seven consecutive drops in quarterly profits for Hyundai. It wants to lift Hyundai's quality image and also to get into the very profitable premium segment. To that end the Genesis model will become a separate branding and the even more exclusive Equus model will become part of that.
Which brings me to a model I don't understand fully, the Aslan. It is an executive car which is only for the local market, which is the part I don't get. The numbers it is made in are limited, which makes me wonder how it is viable.
|2||2||2||2||1||Verna / Accent||843,916||18.1%||-5.0%|
|1||1||1||1||2||Avante / Elantra||811,064||17.4%||-12.6%|
|4||4||3||3||3||Tuscon / ix35||580,614||12.4%||7.5%|
|3||3||4||4||4||Sonata / i40||489,823||10.5%||-4.1%|
|17||17||15||17||17||Equus / EQ900||8,345||0.2%||-33.6%|
|14||15||17||19||19||ix55 / Vera Cruz||2,949||0.1%||-40.0%|
Data source: Hyundai Motors.
Summary: Hyundai probably needs to lift its image and sell at better prices while Kia stays at the mainstream level. Of course, convincing customers your product is moving up in quality takes time. You also have to make sure the quality is worthy of the new status now claimed. Sales may be lower too when in this transitional period. It's like walking a tightrope, balancing sufficient volume with not chasing sales with sharp pricing. It will be interesting to see how it pans out.
|Can the Genesis model take on and beat the established premium marques?|