Can we fight the Chinese market again?
Editor’s note: This article is from “Future Car Daily” (WeChat public ID: auto-time), author: Pan Lei.
Source: Hyundai Motor USA official website
Author | Pan Lei
Editor | Li Huanhuan Liang Chen
The high-end brand of Hyundai Motors, Denises, is accelerating its “Second Time in China” program.
The latest news from the auto-time report (ID: auto-time) shows that the brand that once lost the Chinese market will appear at the 2nd China International Import Expo held on November 5.
Since the establishment of the Genises Auto Sales (Shanghai) Co., Ltd. in October 2018, this Korean high-end brand has implemented the latest measures in expanding the Chinese market. Considering the relatively weak trend of Hyundai Motor Group’s two joint ventures in China in recent years, the introduction of Denises into the Chinese market will, to a certain extent, boost the brand image of Hyundai’s constantly marginalized.
China has not only become the world’s largest auto market for ten consecutive years, but also the world’s largest luxury car market. In 2018, luxury car sales reached 2.82 million units, an increase of 8% year-on-year, compared with 23.71 million passenger car sales in the same year. The car, with a year-on-year decline of 4.1%, has a huge potential in the luxury car market. This is very tempting for the luxury brand of Denises – compared to its sales of 1,007 vehicles in the US market from January to June this year, the Chinese market is clearly more imaginative, and geographically Close at hand.
At the same time, Denises is also facing real problems.
Compared with competitors, Denises is at a disadvantage in terms of brand recognition and channel network, if not from technologyIncreasing the product identification from the angle will face no small challenge.
However, the Chinese market is vigorously pursuing a new energy strategy, and Hyundai Group has a lot of reserves in electrification, especially in the field of hydrogen fuel cell vehicles, so if Denises can be labeled with electrification Cutting into the Chinese market will be a good start and will even be its biggest attraction. On the contrary, if it is still equipped with traditional power and displays “luxury” in a stacked configuration, it is not much different from the first time the brand entered China.
The details of the technical status of the Jenins models participating in the exhibition, especially the level of electrification, have not been disclosed so far, but the models sold in North America (G70, G80, G90) are still mainly equipped. The V6 and V8 engines also have two electric concept cars called “MINT CONCEPT” and “GENESIS ESSENTIA CONCEPT”.
It is not known whether the electric concept car is displayed at the Expo. But it is obvious that this is related to the forward-looking layout of a high-end brand in terms of technology, and it is also related to the outcome of this second entry into China.
[I am Pan Lei, the author of Future Auto Daily, focusing on the automotive industry’s in-depth observation and autopilot, AI and other forward-looking technical reports, always welcome exchanges and provide news clues. WeChat A10010A123, please add a note name, company, position. 】
