Thursday 24 June 2021
Hyundai Motor Company and its subsidiary Kia have done well in Southeast Asia, where Japanese cars are very popular.
The Vietnam Association of Automobile Manufacturers said Thursday that Hyundai and Kia sold a total of 47,860 units during the first five months of this year, twice the sales of Japanese Toyota’s 24,112 units.
Hyundai alone sold 24,420 units, ranking first in the Vietnamese market, followed by Toyota, and Kia, which sold 23,440 units, ranked third.
Hyundai topped the Vietnamese car market for the first time last year and maintained its lead for the second consecutive month since April.
The Vietnamese auto market, with a volume of 334,000 units last year, is the fourth largest in Southeast Asia after Thailand, Indonesia and Malaysia.
In the Indian market, Hyundai and Kia sold a total of 36,501 units last month, overtaking Maruti Suzuki (32,903 units) to take the top spot for the first time, according to the Indian Automobile Manufacturers Association.
Hyundai and Kia are seeking to get the first place in the Indian market by introducing SUVs and others.
Hyundai Motor Group plans to conquer the Southeast Asian market by injecting investments to expand its production capacity, South Korea’s Yonhap News Agency reported.
In the Indonesian car market, in which the market share of Japanese cars is about 96%, Hyundai Motor is setting up a factory by pumping 1.55 billion dollars.
Hyundai plans to produce 150,000 units annually at this plant since the end of this year.
It intends to expand its production capacity to 250,000 units in the future.