Hyundai Motor will launch a "reduce Sonata" for China in 2014

Hyundai Motor Korea plans to launch a new model for the Chinese market that has a size between Sonata and Elantra to regain sales growth in China and make up for lost market share in the first half of this year. The car is expected to be released in the first half of 2014.

New car specification is between Sonata and Elantra

According to two people directly related to the new car, Hyundai plans to reduce the size of the B-class Sonata and develop a new car that has been described as a Sonata-lite. The modern intention is to obtain a new car that is smaller in size than Sonata and more affordable, while taking into account the interior space and high quality of the car, facing the middle class in China. Hyundai believes that members of the Chinese middle class are currently replacing the first car and are more likely to purchase small cars.

One of the informed sources said: "With the advent of this new car, we will try to make a change in the Chinese market." He pointed out that due to the growing income of Chinese residents, consumers are increasingly inclined to drive large-scale cars; but As the car size increases, the price will rise accordingly; for example, a global car (or Elantra) sells for around RMB 100,000, while a Sonata car starts at RMB 167,000, with a high allocation of 250. 000 yuan, the economic capacity of some consumers is not enough to take a one-time leap from the former to the latter.

Another person familiar with the matter said that the modern launch of this new vehicle is actually an attempt to create a new field, combining the larger interior space, high-end experience and economical applicability of the compact car. Hyundai Motor will improve the existing infrastructure to build the car, and there is currently no plan to sell the car outside of China.

Hyundai Motors Seoul spokesman Frank Ahrens had previously confirmed that the company plans to "produce a new model, between Sonata and Elantra." However, it declined to disclose details.

Lee Won-hee, the CFO of Hyundai Motors, said at last week’s financial data conference that Beijing Hyundai’s new plant will be opened and that the new plant will be put into operation in the future between new vehicles with the specifications between the Elantra compact car and the Sonata midsize car. Li Yuanxi commented: "The demand in this area is growing rapidly."

Beijing Hyundai will be listed this year, Elantra Lang move, the car specifications are also between the old Elantra and Sonata.

Modern desire to fight Nissan

The price of this new car has not yet been decided, but a person familiar with the situation has disclosed the situation regarding the configuration of the powertrain.

Both engines will likely be equipped with new cars, including a 1.8-liter engine and a 1.6-liter turbocharged engine. Both displacement engines are usually used for smaller cars. In fact, many of the major parts of the new car come from Elantra. Sonata, which is significantly more expensive, is usually powered by a 2.0-liter or 2.4-liter engine.

Modern will use the new car to imitate the strategy of Nissan's competitors. The latter magnified the Trent compact car into a modified version of the Sylphy, which sells for 119,000 yuan and plans to sell 200,000 vehicles a year.

One of the two insiders said that this new car sold only in the Chinese market will mainly compete with Sylphy. "We are very cautious about Nissan and have performed exceptionally well in recent times. Our new car will overcome Sylphy."

In the first half of 2012, Hyundai performed poorly in China

Hyundai Motor currently hopes to make another heavy attack in the Chinese market. The company’s current market share in the European and American markets is rapidly rising. In recent years, it has made remarkable achievements in China, but it has experienced a decline in market share in the first half of this year.

According to LMC Automotive, Hyundai is the fourth best-selling passenger car brand in the Chinese market this year, second only to Volkswagen, Nissan and Toyota.

However, the modern market share fell from 5.89% at the end of last year to 5.65% at the end of June this year, while the sales of Volkswagen, GM, Toyota, and Nissan both increased rapidly, and the market share increased.