Seoul, Jul 24 (BUS): Hyundai Motor Co. and its subsidiary Kia Corp. reported strong year-over-year sales growth in Vietnam and Indonesia in the first half of 2022, delivering strong performance in markets traditionally dominated by Japanese automakers and local industry. Association data shown.
Total sales of Hyundai Thanh Cong Manufacturing Vietnam and THACO Kia — the joint ventures of South Korean automakers in Vietnam — totaled 71,882 in January-June, up 29.3 percent from a year ago, according to the Vietnam Automobile Manufacturers Association. .
The combined sales figures were 1.7 times greater compared to Japan’s Toyota Motor Corporation’s 43,085 tally in Vietnam, according to South Korea’s Yonhap News Agency.
Hyundai and Kia’s combined share of the growing Vietnamese market was 38.3 percent, outperforming Toyota’s by 23.2 percent.
Combined sales of South Korean automakers in Indonesia, where more than 90 percent of cars sold are Japanese brands, rose to 12013, registering nearly fourfold growth compared to last year, according to the Indonesia Association of Automobile Industries. .
Hyundai and Kia’s market share in Indonesia also rose to 2.6 percent, up 1.8 percentage points from last year.
Hyundai completed construction of its 150,000-unit-a-year plant at the Deltamas Industrial Park near Cikarang, 40 kilometers east of Jakarta, in December. The Indonesian plant is already producing the Creta compact SUV, a strategic model for the region, and the all-electric IONIQ 5.
ZHB