New cars that are integrated with cutting-edge technologies will be made available next year. Cars that show off their advanced technologies by having their platform, design, and powertrain completely changed are preparing to be released. As a recent trend amongst consumers who prefer mental satisfaction compared to price has been applied to the automotive market, automotive manufacturers are starting to focus more on ‘luxury vehicles’ and ‘electric vehicles that satisfy environmental regulations rather than the grade of a car.
According to the industry, South Korean and foreign automotive manufacturers are preparing to release 70 different new cars next year and are getting ready to compete against one another. Although the number of big-name cars that are leading the market will be less next year compared to this year, it is expected that the market will be led by new best-selling models that guarantee success next year. As the number of new cars will be lower next year, it is expected that successful sales of a model will determine the performance of an automotive manufacturer next year.
◊South Korean automotive manufacturers to secure profitability through their ‘best sellers’
South Korean automotive manufacturers are planning to strengthen their grip of the automotive market through their best-selling models. Hyundai Motor Group, which has entered a supercycle of new cars, is planning to release more than 20 different new cars from Hyundai Motor Company, Kia Motors, and Genesis. Renault Samsung Motors is preparing to release 6 new cars that will be the most in its company’s history. GM Korea and SsangYong Motor, which relatively have less new cars, are expected to through a hardship next year.
Hyundai Motor Company is preparing to release new ‘Avante’, ‘Santa Fe’, and ‘Tucson’ that are its main models. As they have proved their commercial values after going through many generations, they are expected to lead Hyundai Motor Company’s sales next year. Out of the three models, Avante that will be released during the first half of next year is the one that will have highest expectations. 7th generation Avante is a model that has gone through a complete change since the 6th generation was released in November of 2015. It will also have a gasoline-based hybrid model for the first time in Avante’s history. Avante and Sonata will also be available as N-Line models that will be equipped with more advanced features.
Mid-size SUV Santa Fe, which is expected to be released during the first half, has gone through a partial change such as change in design and improvement in powertrain. A hybrid model will also be introduced for the first time. Compact SUV Tucson has gone through a complete change and is expected to be released during the second half. New Tucson will also have a hybrid model to its lineup for the first time. Small SUV Kona that has gone through a partial change is also expected to be released next year.
Kia Motors will be putting a lineup of new SUVs such as ‘Sorento’, ‘Sportage’, and ‘Carnival’ at the front line. New Sorento, which has gone through a complete change, is expected to be released during the first quarter. There will be less models based on diesel engine and two hybrid models (HEV and PHEV) will be added. Compact SUV Sportage and Kia Motor’s main minivan Carnival have also gone through complete changes. In addition, Kia Motors is planning to raise its commercial value by partially changing ‘Morning’, ‘Stinger’, and ‘Stonic’.
Genesis will be releasing a diesel-based model ‘GV80’ at the end of this year and it will also introduce a new gasoline model next year. The new gasoline model will be available with 2.5T gasoline engine or 3.5T gasoline engine. Effects from GV80 will take place on full-scale starting from next year when the car is actually shipped out. Also, Genesis will release a brand new ‘G80’ model during the first quarter. ‘GV70’, which is Genesis’ second SUV that is expected to be released next year, is also drawing interests from the market. ‘G70’, Genesis’ lowest model, has also gone through its first partial change.
Renault Samsung Motors is looking to rebound by introducing six different new cars next year. Starting with a new crossover ‘XM3, which combines the strengths of sedan and SUV, sometime during the first quarter, it is going to release the second generation ‘Captur’, which is a QM3 model gone through a complete change, and a globally best-selling electric vehicle ‘ZOE’ sometime during the first half. In addition, it is also preparing to release new models for ‘SM6’ with improved commercial value, ‘QM6’, and ‘Master’. Based on this lineup of new cars, Renault Samsung Motors is looking to sell more than 100,000 cars in South Korea alone.
GM Korea is planning to release all-new ‘Trailblazer’. Trailblazer, which shows the direction of Chevrolet on SUV, is ranked between Trax and Equinox. Trailblazer, which will be produced from GM Korea’s Bupeyong facility, is part of GM Korea’s future plan announced along with South Korean Government and Korea Development Bank, and it is expected to contribute towards increased domestic sales as well as foreign sales for GM Korea. SsangYong Motor, which has solidified the third place of South Korea’s automotive market by releasing Korando and Rexton Sports this year, has yet to have any plan of releasing a new car next year.
◊Foreign automotive manufacturers to target various automotive markets in South Korea
This year’s South Korea’s imported car market has shrunk by more than 20% compared to last year due to lack of inventories and delayed certifications from stricter environmental regulations. However, it will be interesting to see whether foreign brands will be able to recover their performance by releasing many new cars that have not been released yet due to lack of inventories and environmental regulations.
Mercedes-Benz and BMW, which are top two foreign automotive manufacturers within South Korea’s automotive market, are going to introduce many new compact cars and midsize cars. Along with ‘A Class sedan’ and a new ‘CLA’ model, Benz is going to introduce its compact SUV ‘GLB’ to South Korea for the first time. Benz is expecting that it will be able to attract customers who are new to imported midsize cars.
BMW is going to introduce its new 5 series for the first time at Busan Motor Show 2020 and emphasize the importance of the South Korean market. 5 series are BMW’s best seller that have led the growth of the company and they are BMW’s main models. BMW is planning to introduce new ‘1 series’, ‘2 series’, and ‘M8’ model during the first quarter and it is going to start selling new ‘4 series’ and ‘5 series’ models in the second half. MINI, which is BMW’s premium small car brand, is planning to release all-new Countryman and Clubman and JCW Countryman.
Audi and Volkswagen, which are planning to carry out their normal businesses next year, are also preparing to release their new cars. Volkswagen is going to release all-new ‘Golf’, ‘Jetta’, and ‘Tiguan Allspace’. It is also planning to release its lowest SUV model ‘T-Roc’. Audi, which has resumed its business by introducing A6, A8, and Q7 one after the other this year, is looking to introduce all-new models such as ‘A7’, ‘Q2’, ‘Q5’, and ‘e-tron’ next year.
Japanese automotive manufacturers such as Toyota, Lexus, and Nissan have yet to establish any plan to release new cars as it is difficult for them to carry out aggressive promotional activities due to the current conflict between South Korea and Japan. However, Toyota is still planning to introduce its sports car ‘Supra’ as planned.
Peugeot is planning to introduce all-new small hatchback ‘208 and small SUV ‘2008’. DS Automobile, which has become an independent premium brand after being part of PSA Group, is planning to introduce electric premium compact SUV ‘DS 3 Crossback’. Cadillac, which has not introduced many new cars this year, is planning to introduce all-new ‘CT4’, ‘CT5’, ‘XT4’, and ‘XT6’ next year and target South Korea’s luxury car market.
Staff Reporter Jung, Chiyeon | chiyeon@etnews.com