Hyundai Motor Group Overcomes COVID-19 with New Car Cycle and Customer Care

[Asia Economy Reporter Suyeon Woo] Hyundai Motor Group has launched an all-out emergency management strategy to overcome the crisis caused by the novel coronavirus infection (COVID-19). While focusing on boosting sales by strengthening the new car cycle and customer care programs, the group has also decided to continue its research and development (R&D) to lead the future mobility era without interruption.

Hyundai Motor Group is expanding its new car cycle in earnest, starting with the launch of Genesis's first sports utility vehicle (SUV), the GV80, earlier this year. Following the new Genesis G80 in March, Kia's Sorento unveiled a full-change model after six years, setting a box office record in the market.

In May, Hyundai Motor took over the baton with the launch of the new Avante. Notably, despite the consumer sentiment being dampened by COVID-19, the Avante recorded over 10,000 pre-orders on the first day, expected to lead to an improvement in Hyundai Motor's overall sales volume.

Reflecting the difficult economic situation caused by COVID-19, the 'Customer Purchase Care Program' has also been strengthened. The Hyundai Advantage Program allows customers to select a different model or return the vehicle after purchase.

This program, which takes into account changes in the buyer's financial situation, can be usefully applied in the rapidly changing economic environment due to COVID-19.

Additionally, Hyundai Motor Group supported service partners struggling with management due to COVID-19 by providing a total of 2.2 billion KRW in franchise fees in March. In particular, franchise fees were waived for 143 Bluehand locations and 73 AutoQ locations in Daegu and Gyeongbuk regions, which were severely affected by COVID-19.

Despite the difficult management situation caused by COVID-19, investments for the future continue steadily. Since early this year at CES, Hyundai Motor Group has been developing solutions such as Urban Air Mobility (UAM), Purpose Built Vehicles (PBV), and Mobility Transfer Hubs to realize future mobility, and is also focusing on leading future leadership to expand the hydrogen industry ecosystem.

Hyundai Motor Group supplies hydrogen fuel cell systems to finished vehicle manufacturers, shipping and transportation sectors, and power generation and storage fields, aiming to sell about 200,000 hydrogen fuel cell systems annually domestically and internationally by 2030. Last year, it signed a supply agreement for hydrogen fuel cell systems in the North American commercial vehicle market with Cummins in the United States, and this year, it plans to start full-scale exports to the U.S. through system supply to Cummins and expand exports to Europe and other regions.

This content was produced with the assistance of AI translation services.