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How Hyundai Motor, once a rising star, lost its shine
Reuters ^ | November 4, 2018 / 5:13 PM | Hyunjoo Jin, Ben Klayman, Yilei Sun

Posted on 11/12/2018 4:27:17 PM PST by Zhang Fei

At a near-empty Hyundai Motor (005380.KS) showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world’s largest auto market.

Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan (7201.T) dealership was selling about 400 vehicles a month, a store manager there said.

“The sales are simply poor,” Li told Reuters. “Look at the Nissan store next door, they have tens of customers while we just have two.”

An hour’s drive away is Hyundai’s massive $1 billion manufacturing plant, which opened last year with a target to produce 300,000 vehicles per year.

But with sales weak and the Chinese auto market slowing sharply, the factory is running at roughly 30 percent of capacity, two people with knowledge of the matter said. The sources asked not to be identified because the information was not public.

Hyundai, the world’s 5th largest automaker, declined to comment on the Chongqing plant’s production or the showroom’s sales but said it is “closely cooperating” with local partner BAIC (1958.HK) to turn around the China business. BAIC did not respond to requests for comment.

Hyundai’s woes mark a major reversal for the automaker which was an early success story in China as it quickly and cheaply rolled out popular new models into a surging market.

In 2009, Hyundai and partner Kia’s combined sales ranked third in China after General Motors (GM.N) and Volkswagen (VOWG_p.DE).

The South Korean duo now ranks ninth and its market share in China has more than halved to 4 percent last year, from more than 10 percent at the beginning of this decade.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: automobiles; automotive; benklayman; cars; china; fiatchrysler; ford; generalmotors; hyundai; hyunjoojin; japan; kia; korea; nissan; republicofkorea; taiwan; volkswagen; yileisun
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To: Zhang Fei

thanks. I do not have a plug-in hybrid nor is it a full electric. Bummer.


41 posted on 11/12/2018 5:49:06 PM PST by stylin19a (Best.Election.Of.All.Times.Ever.In.The.History.Of.Ever)
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To: 2CAVTrooper

I was just 6 miles off on the Kia factory. Bigger miss on Hyundai.

At least I know Buicks are made in China are sold in the US.


42 posted on 11/12/2018 6:00:18 PM PST by PAR35
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...

Sales are off this year, a mere 14 million sold in 2018. Thanks Zhang Fei.

Axon’s Automotive Anorak: China’s best-selling cars
https://www.goodwood.com/grrc/road/news/2018/4/axons-automotive-anorak-chinas-best-selling-cars/

...the world’s best-selling passenger car that you probably hadn’t heard of, the remarkably unremarkable Wuling Hongguang! This forgettable Chinese-built people carrier has been the best-selling passenger car in the ever-expanding Chinese market for some years now, and sure enough, it retains its top slot once again for 2017 with more than 500,000 sold, based on the official new car registration figures that have only recently been released by the appropriate Chinese authorities. With a staggering 28 million new cars registered there last year, China is by far the largest passenger car market in the world, with the stars of the congested roads of Shanghai and Beijing being cars mostly unknown to us outside of the People’s Republic.

Top 10 Chinese auto brands by H1 sales
By Zhu Lingqing | chinadaily.com.cn | Updated: 2018-07-13 06:40
http://www.chinadaily.com.cn/a/201807/13/WS5b47d8c4a310796df4df62ab.html

10. Anhui Jianghuai Automobile Group Corp Ltd (JAC Motors)
9. Guangzhou Automobile Group Co Ltd (GAC Group)
8. Chery Automobile Co Ltd
7. China FAW Group Corp
6. Great Wall Motor Co Ltd
5. BAIC Motor
4. Dongfeng Motor Co Ltd
3. Geely Auto Group
2. Chongqing Chang’an Automobile Co
1. SAIC Motor Corp Ltd


43 posted on 11/12/2018 6:07:08 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Zhang Fei

I used to make fun of the old Hyundais. Then last year we were ready to buy a new 2017 Honda or Nissan.

Test drove them, then tried a Sonata on a whim. We were impressed. Great quality, great warranty and $3-5k less with the discounts and incentives, very happy with the purchase. Much better than the Impala we had previously.


44 posted on 11/12/2018 6:26:23 PM PST by skyman
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To: SunkenCiv
the world’s best-selling passenger car that you probably hadn’t heard of, the remarkably unremarkable Wuling Hongguang!

The Wuling Hongguang, a GM co-production with Wuling, seems like a practical-looking car:

The dimensions are similar to the Toyota RAV4, although curb weight is almost 1,000 lbs less.

45 posted on 11/12/2018 6:28:27 PM PST by Zhang Fei (They can have my pitbull when they pry his cold dead jaws off my ass.)
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To: skyman

[Much better than the Impala we had previously.]


What were the major things you felt were better on the Sonata?


46 posted on 11/12/2018 6:30:48 PM PST by Zhang Fei (They can have my pitbull when they pry his cold dead jaws off my ass.)
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To: stylin19a
I was considering the Ioniq too, but it just looks like a typical small hatchback car compared to the small SUV of the Niro, even those they share the same chassis. I prefer the higher ride of the Niro and the general looks of it. Honestly I wish they'd just make a hybrid version of the Tucson or Sportage.

I guess if its a difference of 50mpg to 60mpg I'll go with the better looking car.

How is the rear visability with the Ioniq? The rear hatch has a small window that looks like a blind spot nightmare,

47 posted on 11/12/2018 6:43:13 PM PST by Blue Highway
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To: Zhang Fei
I thought they all looked pretty nice, especially that EV.

48 posted on 11/12/2018 6:59:44 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: Blue Highway
rear window is so slanted that there is a split window.(Photo below) Get used to it after awhile. Driver's side rear view mirror comes with an inserted blind spot mirror. I wish there was a rear wiper. I ended up buying a full spare kit, so I'm carrying more weight.


49 posted on 11/12/2018 7:00:24 PM PST by stylin19a (Best.Election.Of.All.Times.Ever.In.The.History.Of.Ever)
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To: TexasGator
And not 1 in 10 customers knows what a Genesis is!

Its a nifty ride with all the goodies but a little too pricey for me.

50 posted on 11/12/2018 7:03:52 PM PST by Don Corleone (Nothing makes the delusional more furious than truth.)
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To: Zhang Fei

I rented the pretty large Santa Fe a few months ago. Got about 28 around town and over 30 mph on the highway.


51 posted on 11/12/2018 7:07:43 PM PST by WASCWatch
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To: Manic_Episode

“ 429 hp and the same stereo as a Roll Royce “

Did you test-drive both?


52 posted on 11/12/2018 7:10:56 PM PST by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: Zhang Fei

“ Hyundai really jumped the gun “

Shark?


53 posted on 11/12/2018 7:14:39 PM PST by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: yarddog
“ For some reason, I have been given free subscriptions to 3 different car magazines. “

Interested in a free subscription to Big Dog Choppers and Hot Women?

54 posted on 11/12/2018 7:24:04 PM PST by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: steve86

[“ Hyundai really jumped the gun “

Shark?]


Both.


55 posted on 11/12/2018 7:28:24 PM PST by Zhang Fei (They can have my pitbull when they pry his cold dead jaws off my ass.)
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To: Zhang Fei

It’s really quite a clonelinke version of Chrysler’s minivans, practical, apparently reasonably priced.

http://www.google.com/search?q=Wuling+Hongguang&sa=X&oi=image_result_group&tbm=isch


56 posted on 11/12/2018 7:59:47 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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A Chang'an BENNI EV is on display at an auto exhibition in Beijing on Oct 13, 2016. [Photo/VCG]

A Chang'an BENNI EV is on display at an auto exhibition in Beijing on Oct 13, 2016. [Photo/VCG]

57 posted on 11/12/2018 8:02:19 PM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: stylin19a
Yeah I think that weird split window would drive me nuts. It's hard enough backing out of parking spaces without seeing to the left or right if you are trapped between 2 huge trucks. The look of it reminds me of the late 80s Merkur cars. On the Merkur it was just a spoiler but still bad visibility.


58 posted on 11/12/2018 8:27:50 PM PST by Blue Highway
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To: Boomer

Every major car company has plants in China. All “partnered” with a Front company for the Chinese Communist Party. The Front company: IE; Local Partner, is there to steal technology & make sure importation doesn’t happen.


59 posted on 11/12/2018 10:39:22 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: TexasGator

I have a Genesis Coupe 3.8. Zoom!


60 posted on 11/12/2018 10:45:14 PM PST by PLMerite ("They say that we were Cold Warriors. Yes, and a bloody good show, too." - Robert Conquest)
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