Beijing Hyundai Automobile, a 50:50 joint venture between Beijing Automotive Industry Holding Corporation (BAIC) and South Korea’s Hyundai Motor Group, is slashing prices on nearly all its models by an average of 10% to keep pace with rivals.

According to Access Asia, Beijing Hyundai reduced the prices of its medium-size Sonata models to between RMB149,800 ($US18,100) and RMB228,000 ($27,500) from RMB172,800 ($20,900) and RMB249,800 ($30,200), marking the first time the price of Sonata sedans in China has been pitched lower than RMB150,000.

Prices on the smaller Elantra models have also been cut to below RMB120,000. Beijing Hyundai claims sales have been good but price cuts by market leaders such as VW and GM coupled with the sharp slowdown in auto sales in China in recent months have prompted the price cuts.

Price cut hopes make Geely’s Chinese dealers wary of replenishing stock in August

The price of Beijing Hyundai’s Sonata has been cut by up to $US2,700

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.