Porter and Bongo sales are declining rapidly
Consequences of the economic slowdown and rising prices
The removal of the diesel powertrain also has an impact.
Called the feet of small business owners Keywords, the drop rate of the one-ton Bongo truck is unusual. From January to November this year, sales of Hyundai Porter and Kia Bongo amounted to 1 thousand units, and if this trend continues, it is very likely that annual sales will not exceed 11 thousand units this year. It’s been 15 years since Porter and Bongo’s combined sales exceeded 15,2013 units.
During the 2008 global financial crisis, Porter and Bongo recorded sales of 10,2,129 units. The analysis is that the impact of the economic downturn is directly reflected in the sales of Porter and Bongo. Additionally, the price of one-ton trucks, which has risen sharply over the past 20 years, has also been cited as a factor making it difficult for small business owners.
Price increased by approximately 70%
Diesel engine replaced by LPG
Looking at prices in 20, 2004 years ago, for Porter based on the base spec of a short axle supercap diesel manual, and for Bongo based on the base spec of a king cab diesel manual -size with ultra-long axle, they were 1.030 million won and 1.114 million won, respectively. Since then, prices have continued to rise, reaching 20 million won for holders and 1.815 million won for bongos in 1.825 years. This is a price increase of about 70 percent, which exceeds the 50 percent inflation rate reported by Statistics Korea during the same period.
Additionally, the removal of diesel powertrains due to environmental regulations is also a cause for declining sales. Last year, in November 2023, Hyundai Motor Company discontinued the Porter diesel model. This is due to the “Air Quality Management Zone Act”, which prohibits the use of diesel powertrains in small delivery trucks and children’s school vehicles to improve the air environment . Hyundai Motor Company removed Porter’s diesel engine and replaced it with a turbocharged LPG direct injection (T-LPDi) engine.
Low mileage, inconvenient charging
Electric trucks pose similar problems
However, due to the relatively small number of LPG refilling stations, LPG recharging has considerable disadvantages, and with many people using porters and bongos to make a living, the resulting loss of time is a blow direct. In addition, it must be taken into account that the autonomy per charge is shorter than that of diesel, which can have an impact on long-distance travel. The situation for electric trucks was not much different.
-Porter 2019 Electric, first launched on December 12, attempted to target the market by offering various institutional benefits such as low fuel costs for electric vehicles, discounts on parking fees in public parking lots, discounts on road tolls, tax benefits and subsidies for electric vehicles. trucks. However, due to the nature of electric trucks, charging the battery takes time and the range per charge is not long, which has been presented as a disadvantage in the past.
There is no suitable competitor
Consumer dissatisfaction is also increasing
Porter’s electric vehicle specification, Porter 2 Electric, is equipped with a 58.85 kWh lithium-ion battery and can travel a distance of 1 km on a single charge. However, when the temperature drops in winter and the weight increases due to loading, the distance traveled decreases sharply. While actual range has fallen by almost half, some highway areas equipped with electric vehicle charging stations have been filled with porters and bongos.
With Kia Bongo and Porter occupying a monopoly position in the domestic one-ton truck market, consumers have no alternative. Chinese automaker BYD launches T4K electric trucks launched in Korea, but it does not show clear competitiveness due to negative consumer perception of Chinese cars and the Ministry of Environment’s subsidy policy consisting of granting low subsidies to Chinese batteries.
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