World's fastest rising carmaker, Hyundai Motor Company, announced a surprising news about pulling out of the Japanese car market, last Friday. The Korean carmaker decided to stop selling passanger vehicles in Japan due to low sales volumes.
Since 2001 when Hyundai entered the Japanese automarket, the automaker managed to sell only 15.000 new cars. Hyundai sold Grandeur XG, Sonata sedan and Getz subcompact car in Japan. Initial sales were encouraging, but later on, Hyundai experienced falling of new car sales
therefore the decision was made to suspend passenger vehicle sales in the country.
Despite slugish sales in Japan, Hyundai contimue to outperform major car-makers, including Toyota on international markets. According to the statement of Hyundai spokesperson, the company has sold 41 percent more cars in the third quarter of the year compared to a year earlier.
This is a temporary decisison said Hyundai spokesperson and if the Japanese passenger car market improves, Hyundai could resume the sales there. Hyundai sells both, passenger cars and commercial vehicles in Japan and while passenger car sales has been suspended, Hyundai will continue to offer commercials vehicles. It will allocate its resources and focus on commercial vehicles sales.
Hopefully, Hyundai returns to the Japanese market with a better car-selling strategy. Once they return, they should try with a broader range of vehicles and instead of selling mid-sized and large-sized sedan, they should focus on selling compact and sub-compact cars or they could make a step further and offer a range of hybrid cars to tech-savy Japanese consumers.
US-market Fiesta likely to steal sales from Hyundai
New US-market Ford Fiesta looks great. But is this enough to steal sales from Hyundai?
Apparently, the all-new, US-market, Ford Fiesta sedan has made it unofficial US debut just moments ago, with the very first and exclusive images surfacing to the web. Scheduled to make its official US debut at the up-coming L.A. Auto Show next week, the all-new Fiesta sedan features a bit different front fascia design than its European five-door sibling model.
The most evident difference between the two is the front bumper design, which features massive air intake and large chrome intakes for the fog-lights. The US-market Fiesta also sports a redesigned front grille with nicely incorporated grille-bars. There are no pics of the rear-end at the moment, so its quite difficult to talk about the rear design, but we expect to see some traditional design DNA elements from latest Ford cars at the rear-end of Fiesta.
The all-new Fiesta will compete head to head against Hyundai's sub-compact Accent. The ageing Hyundai Accent, with not so appealing design will probably have some hard times competing against a brand-new Ford model with striking design and more modern powertrain technology, so question is how will the new Fiesta affect Hyundai Accent's 2010 sales? If priced reasonably, the Accent could loose several thousand units of sales next year.
Thankfully, Hyundai has an all-new Accent in the works, which should hit the market in late 2010 or early 2011. The very first spy shots reveal its going to look as hot as Fiesta four-door so you can expect the battle for the sub-compact car customers to intensify once Hyundai launches its new product in the US market.
Hyundai and Ford are currently in the "battle" for the fourth largest automaker in the world. According to figures released by the Automotive News, Hyundai's 2.153.000 units sold are 8.000 more than the US auto giant. Great Fiesta sales could catapult Ford past Hyundai to recap the fourth spot again, but be sure the roaring Korean auto maker will fight back and make FoMoCo hard time to sleep.
Update: We added some more pics including the one revealing the rear-end design, which is not as appealing as the striking front-end. But all-in-all, the forth-coming Fiesta is a great looking car (perhaps the best looking one in its segment) and should do really well for Ford Motor Company in the US market. Enjoy the images.
New Samsung SM5 designer sketch surfaces to the web
Renault-Samsung released a designer sketch of its all-new mid-size sedan called SM5, which is expected to arrive to the market in 2010.
The designer sketch you see above shows a redesigned Samsung SM5 and is a follow-up model to the current SM5 model, which has been on sale in the Korean market since 2005. The current SM5 sedan is built on Nissans Teana platform, while the up-coming SM5 will, reportedly, be based on the same platform as the current generation Renault Laguna.
Therefore, the all-new SM5 will features similar engines, as well as powertrain technology with its European sibling model. It will also feature a breakthrough exterior design, which will be sportier and much more eye-pleasing than that of the current model. Plus, the model will also adopt advanced safety technology and many other convenience features already found on the current Renault Laguna sedan.
The forth-coming Renault-Samsung SM5 will first go on sale in the South Korean market in the first half of 2010 where it will compete head-to-head with the all-new Hyundai Sonata sedan and Kia Lotze (known as Optima in the US market), while later in the year, the carmaker will begin exporting the model to several other Asian markets.
About the Renault Samsung company:
Those of you not familiar with the fourth-largest Korean car brand read this: Renault Samsung Motors was first established as Samsung Motors back in 1994. Hit by the Asian financial crisis in 1998, the carmaker has been sold to Renault which acquired a 70 percent stake in the company for $512 million.
The fourth-largest Korean carmaker produces four different models and has a production capacity of 130.000 units. With new models planed to be released in the near future, the brand plans an expansion of its production to around 250.000 new vehicles by the end of 2010.
Existing Renault-Samsung vehicle line-up consists of compact SM3 sedan, midsize SM5 and near-luxury sedan called SM7. The company also sells the QM5 crossover, which is also sold in overseas markets as a Renault Koleos.
India vs China car sales
Hyundai Motor India will likely become the largest contributor to its parent company, Hyundai Motor Corporation (HMC) of Korea, in terms of sales and could soon overtake Hyundai's China subsidiary.
To date, Hyundai Motor India sold 405.689 new cars, while Hyundai's cumulative sales in China, the world's largest car market, topped 412.399 units. That is a difference of mere 6.710 units.
"India contributes 15-17% to the total sales and revenues of HMC and the growing demand for small cars will help us increase our profits further in 2010," said Mr. HW Park, who has been just recently appointed as a managing director and CEO of Hyundai Motor India.
According to Hyundai, demand for small cars have gone up after the scrappage incentives have been doled out by variousEuropean countries.
"Despite a strong demand for smaller vehicles in the domestic market, where the small car segment constitutes nearly 78% to the total car sales, there has been an increase in exports from India to Europe and this will help us increase our sales and profit in 2010" said Hyundai representative.
However, while sales in China is entirely to the domestic market, HMC's Indian subsidiary is currently exporting nearly half of its new car production to the West after the company decided to develop India as a hub for small cars. This year Hyundai expects to sell 560.000 units, which would be a growth of 13-14%.
To date, Hyundai Motor India sold 405.689 new cars, while Hyundai's cumulative sales in China, the world's largest car market, topped 412.399 units. That is a difference of mere 6.710 units.
"India contributes 15-17% to the total sales and revenues of HMC and the growing demand for small cars will help us increase our profits further in 2010," said Mr. HW Park, who has been just recently appointed as a managing director and CEO of Hyundai Motor India.
According to Hyundai, demand for small cars have gone up after the scrappage incentives have been doled out by variousEuropean countries.
"Despite a strong demand for smaller vehicles in the domestic market, where the small car segment constitutes nearly 78% to the total car sales, there has been an increase in exports from India to Europe and this will help us increase our sales and profit in 2010" said Hyundai representative.
However, while sales in China is entirely to the domestic market, HMC's Indian subsidiary is currently exporting nearly half of its new car production to the West after the company decided to develop India as a hub for small cars. This year Hyundai expects to sell 560.000 units, which would be a growth of 13-14%.
2.4L GDI engine to propel Sonata
- Hyundai's gasoline direct injection engine lowers CO2 emissions and improves vehicle's fuel economy!
- The engine churns out a class-leading 201 horsepower!
- First installed in the all-new Hyundai Sonata sedan
According to Hyundai, the 2.4L GDI engine was developed with a budget of $146 million over a 46 month-long research and development period. The engine will make its inaugural debut in the first half of 2010 in the all-new Sonata sedan.
The GDI technology will gradually be expanded to other Hyundai engines and will include majority of gasoline engines applied in other Hyundai cars.
The 2.4L GDI's engine's benefits include improved gas mileage and performance. Compared to engine without GDI technology, tjaall-new 2.4L GDI unit achieves 7 percent more torque at low revolutions and 12 percent more torque at the high-end revs.
It also achievs around 10% better gas-mileage than the engine without GDI technology.
As we already mentioned, the all-new 2.4L Theta II gasoline engine will make its debut in te 2011 Sonata sedan, which will make its premiere at the 2010 NAIAS in January. The all-new Sonata will be unveiled just a few months after the 2010 Tucson crossover, which has been scheduled to make its official US debut at the upcoming L.A. Auto Show in November this year.
Stay tuned for more information!
- The engine churns out a class-leading 201 horsepower!
- First installed in the all-new Hyundai Sonata sedan
According to Hyundai, the 2.4L GDI engine was developed with a budget of $146 million over a 46 month-long research and development period. The engine will make its inaugural debut in the first half of 2010 in the all-new Sonata sedan.
The GDI technology will gradually be expanded to other Hyundai engines and will include majority of gasoline engines applied in other Hyundai cars.
The 2.4L GDI's engine's benefits include improved gas mileage and performance. Compared to engine without GDI technology, tjaall-new 2.4L GDI unit achieves 7 percent more torque at low revolutions and 12 percent more torque at the high-end revs.
It also achievs around 10% better gas-mileage than the engine without GDI technology.
As we already mentioned, the all-new 2.4L Theta II gasoline engine will make its debut in te 2011 Sonata sedan, which will make its premiere at the 2010 NAIAS in January. The all-new Sonata will be unveiled just a few months after the 2010 Tucson crossover, which has been scheduled to make its official US debut at the upcoming L.A. Auto Show in November this year.
Stay tuned for more information!
Sales of Santa Fe SUV tops 2 million units
Korean largest carmaker Hyundai reported that Santa Fe -midsize SUV, just recently reached cumulative sales of 2 million units worldwide.
The two million units landmark is a major success for the brand and testifies the high-quality and leading style of the Santa Fe SUV. According to Hyundai, 1.500.000 units of the Santa Fe SUV were sold in the international markets, while 500.000 units were sold in the Korean marke
If you line up all the Santa Fes that have been sold to date, the length is equivalent to eleven round trips between Seoul and Korea's second-largest city, Busan (distance between two cities is 428 km). When the cars are piled up (overall height 1,725mm), the two million units are 390 times the height of the Mount Everest (8,848m).
The Santa Fe SUV was launched in the summer of 2000 and immediatelly became a major success for the brand. The Santa Fe, which combes the comfort of a car and safety of a SUV vehicle, has just recently received a facelift.
The all-new, 2010 model benefits from exterior styling tweaks, as well as interior improvements. It also boasts a wider engine range (in Korean market), which includes a brand new LPI engine, as well as a choice of gasoline and diesel engines.
Positioned one slot above the forth-coming Hyundai ix35, the facelifted Santa Fe SUV will go on sale by the end of this year.
The two million units landmark is a major success for the brand and testifies the high-quality and leading style of the Santa Fe SUV. According to Hyundai, 1.500.000 units of the Santa Fe SUV were sold in the international markets, while 500.000 units were sold in the Korean marke
If you line up all the Santa Fes that have been sold to date, the length is equivalent to eleven round trips between Seoul and Korea's second-largest city, Busan (distance between two cities is 428 km). When the cars are piled up (overall height 1,725mm), the two million units are 390 times the height of the Mount Everest (8,848m).
The Santa Fe SUV was launched in the summer of 2000 and immediatelly became a major success for the brand. The Santa Fe, which combes the comfort of a car and safety of a SUV vehicle, has just recently received a facelift.
The all-new, 2010 model benefits from exterior styling tweaks, as well as interior improvements. It also boasts a wider engine range (in Korean market), which includes a brand new LPI engine, as well as a choice of gasoline and diesel engines.
Positioned one slot above the forth-coming Hyundai ix35, the facelifted Santa Fe SUV will go on sale by the end of this year.
Hyundai sales soar in October
Hyundai announces October sales...
Korean largest carmaker, Hyundai Motor Company, announced today that it has increased its new vehicle sales by 6,9% last month. October sales were higher on behalf of soaring domestic sales, as well as increasing overseas demand.
Hyundai reported October sales totaled 288.618 units last month. Sales in domestic market grew more than 25% to 66.458 units, while overseas sales rose 2,3% to 222.160 units. Hyundai told that domestic sales were boosted by the introduction of new Tucson ix crossover and Sonata YF, which has been on sale in Korea since mid-September.
In addition to October sales numbers, Hyundai also announced it has finally signed a final contract to set up a US$33.8 million joint venture to produce lithium-ion car batteries with LG Chem Ltd.
The Korean car-maker will begin production of lithium-ion car batteries in the second half of 2010. The venture is expected to help Hyundai to speed up its efforts to increase the presence in the rapidly growing market of low-polluting vehicles. Hyundai has already revealed it plans to release new fuel-efficient models, including a variety of hybrid cars, as well as electric cars within next three years.
Korean largest carmaker, Hyundai Motor Company, announced today that it has increased its new vehicle sales by 6,9% last month. October sales were higher on behalf of soaring domestic sales, as well as increasing overseas demand.
Hyundai reported October sales totaled 288.618 units last month. Sales in domestic market grew more than 25% to 66.458 units, while overseas sales rose 2,3% to 222.160 units. Hyundai told that domestic sales were boosted by the introduction of new Tucson ix crossover and Sonata YF, which has been on sale in Korea since mid-September.
In addition to October sales numbers, Hyundai also announced it has finally signed a final contract to set up a US$33.8 million joint venture to produce lithium-ion car batteries with LG Chem Ltd.
The Korean car-maker will begin production of lithium-ion car batteries in the second half of 2010. The venture is expected to help Hyundai to speed up its efforts to increase the presence in the rapidly growing market of low-polluting vehicles. Hyundai has already revealed it plans to release new fuel-efficient models, including a variety of hybrid cars, as well as electric cars within next three years.
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