Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last year

[touchring]

http://english.chosun.com/w21data/ht...903040012.html

Beijing Hyundai Posts Sales Increase Despite Downturn

Hyundai Motor recorded a sales increase for two straight months last month in the Chinese car market. Beijing Hyundai, China's joint venture of the Korean automaker, said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from 18,582 vehicles in February last year, increasing its overall market-share to 7.1 percent. Beijing Hyundai recorded a 17-percent surge in sales in January this year, ranking fourth in China's car industry. Beijing Hyundai's success despite reducing worldwide car sales stems from the Chinese government's efforts to stimulate the auto industry, including reducing purchase tax from 10 percent to five percent for cars with engines below 1.6L and discounting the price of gas by 30 percent. Hyundai's main vehicles Elantra (called Avante in Korea) and Accent (called Verna in China) with engines below 1.6L are reaping the benefits of the Chinese government's stimulus measures. Hyundai Motor expects to sell 360,000 vehicles in the Chinese market this year. The forecast is up 25 percent from last year's 290,000 vehicles.

[CanuckinTX]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

I was up at the Calgary Auto Show last week and spoke with one of the Hyundai salespeople there. She said that now there are 4 Hyundai dealerships in Calgary because an owner of another brand converted his dealership to Hyundai. They seem to be one of the few companies doing well.

The new Veracruz they had there was really impressive but the price was the real benefit. They're definitely making some solid vehicles for less $$$.

I also heard they are not making their minivan anymore because that market is dead. According to the salesperson I spoke with everyone compares the price of a minivan to the Chrysler version and doesn't consider the difference in quality.

[Guest]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

Someone forgot to send the Chinese commuter the MEMO - we're in a nasty global recession guys - you're supposed to be K.O. You're not supposed to be giving Korea's Hyundai 72% sales growth. That wasn't in the script! :rolleyes:

[hayekvindicated]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

Sales of S Class Mercs are up 27 percent year on year in China.

[Mega]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

............how do we buy oil??????
Mike

[hayekvindicated]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

I prefer buying agriculture to buying oil. Oil is a major input cost in modern agriculture and agriculture prices are very depressed by historical standards and have been for a very long time. Also, the ags are not in severe contango the way oil is. It makes more sense to buy agriculture.

I am on the verge of buying RJA - which is Rogers' agricultural index.

If you want to buy oil, the preferred vehicle is USO. Contango, however, is a killer.

[touchring]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

Someone forgot to send the Chinese commuter the MEMO - we're in a nasty global recession guys - you're supposed to be K.O. You're not supposed to be giving Korea's Hyundai 72% sales growth. That wasn't in the script! :rolleyes:

the people buying cars in china are the wealthier 5% of the population, they pay in cash.

[Guest]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

Yes of course Touchring. I had no illusions on this. The stat does not represent so much a robust percentage of Chinese buying relative to their market base, as rather just a continuing very large "minimum basis" of potential continuing buyers due to their fledgling market position and population size. Of course it's obvious but bears noting in clarification - That is the unique quality of the unfolding China and India consumer markets. They are so underdeveloped (and numerous) that they can maintain robust numbers compared to other nations even in the worst of times.

"Wealthier 5%" in a place like China is a quite uninuitively large pool of potential remaining buyers - meanwhile the net cost of producing a vehicle for larger numbers of them is coming down sharply within this global recession due also to further consolidation of the leading edge of low cost car manufacturing in Asia's emerging economies. Korea steps into a space needing to be filled, but others will with even lower cost options soon enough. This "5%" today represents the hard nut, core of buyers in the most adverse markets, and already represents 80% sales growth for Hyundai. Imagine what the exponential sales volume will be as the economic backdrop gradually improves.

the people buying cars in china are the wealthier 5% of the population, they pay in cash.

[touchring]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

"Wealthier 5%" in a place like China is a quite uninuitively large pool of potential remaining buyers - meanwhile the net cost of producing a vehicle for larger numbers of them is coming down sharply within this global recession due also to further consolidation of the leading edge of low cost car manufacturing in Asia's emerging economies. Korea steps into a space needing to be filled, but others will with even lower cost options soon enough.

The wealth is suppose to be false - http://itulip.com/forums/showthread....5008#post85008

[Guest]

Re: Beijing Hyundai said Tuesday that it sold 32,008 vehicles last month, up 72.3 percent from last

Touchring -

Yes I have read this argument but in all honesty I am feeling weary at the idea of thrashing it out into yet another round on that thread. It is a long thread and you guys have thrashed it enough. Suffice it to say that if you conclude it's exactly as $#* chalks it up, then to employ the same set of evaluations in the American instance you'd need to go all the way back to 1980 and claim that a significant portion of the US consumer's spending action was the product of a governmental distortion. At a certain point my own view is that such arguments are most comfortable in the academic classroom.

In the American instance, to track US discretionary purchases across 30 years while deciphering genuine prosperity driven spending capacity from government jury rigged capacity, you'd wind up with a 30 year long head scratcher. This is the one distinction that no one made in that long thread. I ound the argument's explanation of the full extent of China's foreign reserves being compromised for instance to be a highly synthetic one. Of course, we are in a brutal global recession / depression so you guys can thrash those points out against a backdrop that looks very convincing to the thesis.

China's economic vigor is indeed highly fragile still, and has been tied by a sort of "umbilicus cord" to the US so that the entire construct looks "Ponzi-ish", but I for one don't remotely buy that they have not acquired a tremendous and real purchasing power in the process - and that power is latent not just in the foreign currency raw numbers, but latent in the entire fabric of an industrializing country which this global depression has halted in it's tracks. $#*'s argument that this entire latent purchasing power is a "construct" is an argument that's a little too sophisticated for me.

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The wealth is suppose to be false - http://itulip.com/forums/showthread....5008#post85008