Consumption boom, new car effect ... Next year``s car market to grow bigger
Ye Jin Soo | jinye@ | 2017-11-30 11:04:17
The domestic automobile market will grow in size next year as consumer sentiment improves and new cars are introduced.
Hyundai Motor, Kia Motors, and Korea GM are replacing major models, and Volkswagen is also launching domestic resale. The domestic market is expected to retake 1.8 million units next year due to three factors, such as consumer sentiment improvement, new car effect, and eco-friendly car expansion. The industry estimates the domestic market this year to be 1.75 million units.
According to related industry on the 29th, Hyundai Motors will open a deal with the Santa Fe Full Change (development brand Santa Fe TM) in February next year. We will concentrate our efforts on targeting the SUV market by introducing the 4th generation Santa Fe, which will be launched in six years. Large-sized SUVs will also be launched in 2H. Small SUVs led the market this year, but next year there will be big bumps in the mid-sized SUV market. Korea GM will also inject mid-size SUVs and larger SUV trains next year to expand domestic market share. Equinox is a popular model that sells more than 200,000 units a year in the US market.
Kia Motors also replaces its flagship model. In the first half of next year, we will release a complete change model of Hyundai Genesis EQ900 and its equivalent K9. K9 is not the name of the new car and attaches a separate emblem. In March of next year, the new model of the K3 sedan will be set to catch up with the market. The new K3 model, launched in 2012 after six years, is based on the next-generation platform. It promotes the "quasi-middle-class luxury" as its motto and armed with advanced functions and devices that are comparable to medium-sized ones.
Renault Samsung will inject Renault`s best-selling car, the small hatchback `Clio`, as early as early next year. It is the best seller of the corresponding car that sold 178,801 units in Europe in the first half of this year. Ssangyong also plans to launch the Q200 (project name), a follow-up model of Korando Sports, early next year. It is a premium pickup (small truck of passenger type) that installed a loading box.
The imported car market is also hot. Audi and Volkswagen are expected to return to the market in the next year due to the diesel gates, which have been discontinued for over a year. Volkswagen will resume the Volkswagen Restart next month in preparation for resuming sales early next year. We will enter into preliminary contracts with new Tiguan Allspaces, Ation and Passat GT.
The environment-friendly car market is also growing. Hyundai will release a hydrogen fuel cell electric car early next year. It can run over 580km in a single charge, and its power performance is 163 horsepower, which is the same as that of an internal combustion engine of the same class. The number of domestic pure electric vehicles (EV) sales exceeded 10,000 units for the first time this year, and the number of units will exceed 20,000 units next year. Despite the lack of charging infrastructure, there is a strong interest in electric cars, and support measures such as improvement of mileage, purchasing subsidy and tax reduction are leading to sales increase.
By Ye Jin Soo jinye@
[ copyright ⓒ The Digitaltimes ]
Hyundai Motor, Kia Motors, and Korea GM are replacing major models, and Volkswagen is also launching domestic resale. The domestic market is expected to retake 1.8 million units next year due to three factors, such as consumer sentiment improvement, new car effect, and eco-friendly car expansion. The industry estimates the domestic market this year to be 1.75 million units.
According to related industry on the 29th, Hyundai Motors will open a deal with the Santa Fe Full Change (development brand Santa Fe TM) in February next year. We will concentrate our efforts on targeting the SUV market by introducing the 4th generation Santa Fe, which will be launched in six years. Large-sized SUVs will also be launched in 2H. Small SUVs led the market this year, but next year there will be big bumps in the mid-sized SUV market. Korea GM will also inject mid-size SUVs and larger SUV trains next year to expand domestic market share. Equinox is a popular model that sells more than 200,000 units a year in the US market.
Kia Motors also replaces its flagship model. In the first half of next year, we will release a complete change model of Hyundai Genesis EQ900 and its equivalent K9. K9 is not the name of the new car and attaches a separate emblem. In March of next year, the new model of the K3 sedan will be set to catch up with the market. The new K3 model, launched in 2012 after six years, is based on the next-generation platform. It promotes the "quasi-middle-class luxury" as its motto and armed with advanced functions and devices that are comparable to medium-sized ones.
Renault Samsung will inject Renault`s best-selling car, the small hatchback `Clio`, as early as early next year. It is the best seller of the corresponding car that sold 178,801 units in Europe in the first half of this year. Ssangyong also plans to launch the Q200 (project name), a follow-up model of Korando Sports, early next year. It is a premium pickup (small truck of passenger type) that installed a loading box.
The imported car market is also hot. Audi and Volkswagen are expected to return to the market in the next year due to the diesel gates, which have been discontinued for over a year. Volkswagen will resume the Volkswagen Restart next month in preparation for resuming sales early next year. We will enter into preliminary contracts with new Tiguan Allspaces, Ation and Passat GT.
The environment-friendly car market is also growing. Hyundai will release a hydrogen fuel cell electric car early next year. It can run over 580km in a single charge, and its power performance is 163 horsepower, which is the same as that of an internal combustion engine of the same class. The number of domestic pure electric vehicles (EV) sales exceeded 10,000 units for the first time this year, and the number of units will exceed 20,000 units next year. Despite the lack of charging infrastructure, there is a strong interest in electric cars, and support measures such as improvement of mileage, purchasing subsidy and tax reduction are leading to sales increase.
By Ye Jin Soo jinye@