Sales Targets of Hyundai and Kia Motors
In electric vehicles, the most important components except batteries are powertrains consisting of drive motors, inverters and reducers. Given the recent surge in EV-related stocks, which have triggered a surplus in Tesla and Panasonic, we still need to pay attention to major EV makers. Hyundai Mobis is in charge of core electric vehicles (drive motors, inverters, battery systems) and hydrogen cars (EVs, hydrogen fuel cells) in the group. S & T Motiv has not yet confirmed the order for motors related to the platform for Hyundai-Kia electric vehicles, but considering that the EV sales targets of Hyundai and Kia Motors will be 560,000 units and 340,000 units in 2025, they are 10 times higher than 79,000 units in 2019. It is expected to increase.
Hyundai and Kia Motors announced on the 3rd that they set their target for the domestic market this year at 1,252,000 units. It is somewhat conservative, down 0.8% from last year’s earnings (126,2047). By brand, Hyundai has 732,000 cars (including Genesis) and Kia cars 520,000. Both brands had lower sales than last year’s results.
However, Hyundai Motor set higher than the 2019 target (712,000 units) to express confidence in the domestic market success this year. Last year, the company introduced big new cars such as the new Sonata and the Granger (Facelift).
This year, Genesis, a high-end brand, is undergoing major changes. The company’s lineup strengthens its lineup from sedan-oriented brands. The company is aiming to improve profits through the launch of high value-added high-end models. The first sports utility vehicle (SUV), the ‘GV80′, is expected to launch this month. GV80 is regarded as the biggest ambitious work of this year. The exterior design and some specifications were released earlier. It is made of cars competing with German premium brand SUV models such as Mercedes-Benz GLE and BMW X5. It has attracted much attention even before its launch due to its features such as large SUVs and high-quality specifications and materials.
Subsequently, the flagship sedan G80 undergoes a complete change. The existing G80 was developed as a Hyundai Genesis (BH) and was considered a “half-way” Genesis, but the new G80 is purely a Genesis brand. The current G80 sold a total of 22,284 units last year, the highest sales volume in the Genesis brand.
Hyundai Motor is also preparing a new flagship model. New Tucson and new Avante will be launched this year with a new design philosophy. It is a semi-medium sized model that has become less popular, but it is aiming to target domestic consumers by improving its commerciality by increasing its size and adding high-quality specifications. In addition, various derivatives and product improvement models, such as the Sonata N-Line and the i30 Face Lift, will be released.
The combined sales volume of HMC and Kia’s global market last year was only 719 million units, which is lower than the target. The company’s new car launches in Korea, the US, and Europe, but sluggish sales in emerging markets such as China and India.
According to Hyundai Motor Group on the 2nd, the global sales volume of HMC and Kia last year was 719,3337 units, down 2.8% from last year. This is about 410,000 units lower than the annual sales target of 7.6 million units set earlier this year. As a result, Hyundai and Kia recorded sales that fell below the target for five years since 2015.
Hyundai Motor (KRW 134,000, 1,000 0.75%) sold 4.442,644 units, down 3.6% from the previous year. Domestic sales volume increased 2.9% to 74,1842 units, but overseas sales decreased 4.8% to 3,68,802 units.
In the domestic market, the sedan became the top selling model with 10,349 Grandeurs sold last year. Sonata, which returned to the new model, sold 10,363 cars, while Avante sold 6,104, respectively, with a total of 27,9242 sedan models sold.
A total of 23,8965 RVs were sold. Santa Fe sold 86198 units, Kona 42649 units and Tucson sold 36758 units, respectively.
The large SUV Palisades last year became very popular in the domestic and North American markets.
Genesis, a high-end brand, sold 22,284 G80s, 17,754 G90s, and 1,6975 G70s.
A representative of Hyundai Motor said, “Selling overseas sales were well in advanced markets including the US and Europe. However, due to the US-China trade disputes, demand declined in emerging markets including China, and overall sales volume declined.”
Kia Motors (KRW 41,850, 600 1.45%) recorded sales of 2.77693 units, down 1.5% from the previous year. The company sold 52,205 units, down 2.2% in Korea, and 2.225,88 units, down 1.3% from overseas.
In the sedan model in the domestic market, the K7, which had a partial change model this year, was promoted to 58,393. The K5 sold 39,696 units, the K3 sold 43,387 units, and the K9 sold 1,878 units.
K7 partial change model / Kia Motors, which recorded the highest sales volume among Kia’s sedan models last year
The RV model sold 66,706 carnivals and ranked first in Kia’s annual cumulative sales. Sorento sold 52,225 units and Celtose sold 31,2001 units. Launched in July last year, Celtos sold more than 5333 Kia cars each month, making it the new leader in the small SUV market.
Kia’s overseas sales also declined due to sluggish sales in the Chinese market. Excluding China, Kia Motors’ overseas sales last year increased by 4.3% year-on-year to 199,2488 units. Total global sales combined with the domestic market recorded 2.251,293 units, up 2.9% year-on-year.
This year’s sales target is 753 million units
Hyundai Motor Group’s total sales targets for this year are 7536,000 units, 64,000 units lower than last year. We have lowered our target, considering the decline in demand in the Chinese market, which has been a cause of sluggish sales for several years.
Hyundai Motor has set a total of 4576,000 vehicles, including 732,000 in Korea and 3,844,000 in overseas. Kia plans to sell a total of 2.96 million vehicles this year, including 520,000 in Korea and 2.44 million in overseas.
Hyundai and Kia Motors said they will make every effort to settle new cars to be launched in the global market this year to achieve annual sales targets.
Genesys will launch the GV80, the first SUV model of the month, and the GV70, a mid-range SUV. Hyundai will show the new Avante and Santa Fe partial changes in the first half, and the Tucson complete and Kona changes in the second half. Kia is launching new models of Sorento, Sportage and Carnival.