Hyundai, Kia record robust sales growth in Vietnam, Indonesia in H1
Hyundai Motor Co and its affiliate Kia Corp recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022, delivering strong performances in the markets traditionally dominated by Japanese automakers, reported YONHAP news agency.
Hyundai Motor Co and its affiliate Kia Corp recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022 (Photo: pulsenews.co.kr)
Seoul (VNA) - Hyundai Motor Co and its affiliate Kia Corp recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022, delivering strong performances in the markets traditionally dominated by Japanese automakers, reported YONHAP news agency.
The combined sales of Hyundai Thanh Cong Manufacturing Vietnam and THACO Kia - the Republic of Korea (RoK) automakers' joint ventures in Vietnam - reached 71,882 in the January-June period, up 29.3% from a year ago, the news agency quoted data from the Vietnam Automobile Manufacturers' Association.
The combined sales figure was 1.7 times bigger compared with the 43,085 tally of Japan's Toyota Motor Corp in Vietnam. Hyundai and Kia's combined share in the Vietnamese market was recorded at 38.3%, outpacing Toyota with 23.2%.
The combined sales of the RoK automakers in Indonesia, where more than 90 percent of automobiles sold are of Japanese brands, also soared to 12,013, according to the Association of Indonesia Automotive Industries.
Hyundai and Kia's market share in Indonesia also climbed to 2.6%, up 1.8 percentage points from a year ago.
🔯 Hyundai completed the construction of its 150,000 unit-a-year plant in the Deltamas industrial complex near Cikarang, 40km east of Jakarta, in December. The plant is producing the compact Creta SUV, a strategic model for the region, and the all-electric IONIQ 5 model./.
Hyundai Thanh Cong’s automobiles sales in March expanded 125 percent month-on-month, lifting its sales in the first quarter of 2021 to 15,886 units, data released on April 12 showed.
Hyundai Thanh Cong Commercial Vehicle (HTCV), a joint venture between the Vietnamese Thanh Cong Group and the Republic of Korea’s Hyundai, on May 15 announced the recall of 23,587 Hyundai Tucson vehicles for fuse change and software update of the Anti-lock Brake System (ABS).
Sales of Hyundai automobiles in March jumped 69.4 percent month-on-month to 7,069 units, raising the total sales in the first quarter of 2022 to 18,670, an increase of 17.5 percent compared to the same period last year, according TC Group.
Sales of Hyundai cars in June fell 34% from the previous month to 4,278, Thanh Cong (TC) Group said on July 12, blaming the decline on component shortages.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Hyundai Motor Co and its affiliate Kia Corp recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022 (Photo: pulsenews.co.kr) 
