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Hyundai Motor sells most in Vietnam in H1

Industry 09:57 July 19, 2020

SEOUL, July 19 (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, ranked first in vehicle sales in Vietnam in the first half of the year, outpacing archrival Toyota Motor Corp., driven by its customized models there, industry sources said Sunday.

Hyundai sold a total of 25,358 units in the Vietnamese passenger vehicle market in the January-June period, raising its market share by 2.6 percentage points to 21.3 percent, according to the data.

The Vietnamese auto market dropped 27.1 percent on-year in the first half, but Hyundai Motor saw its sales there sink 17 percent during the cited period, the data showed.

Hyundai Motor officially ventured into the Vietnamese auto market in 2017. Its market share stood at 13.3 percent in 2017 and 19.2 percent in 2019, the data showed.

Hyundai Motor's and its affiliate Kia Motors' headquarters in Yangjae, southern Seoul (Yonhap)

In contrast, Toyota's market presence fell to 21.1 percent in the first half of the year, from 22.7 percent in 2019 and 25.5 percent in 2017, the data showed.

Hyundai Motor sells the compact sedan Accent, i10 and other vehicles. Hyundai plans to launch an aggressive marketing drive to grab a large share in the fast-growing auto market.

In 2019, Hyundai Motor set up a joint venture with Thanh Cong Group to sell vehicles in Vietnam.

In the production joint venture with Thanh Cong Group, Hyundai has been bringing complete knockdown units from its plants in South Korea since 2011 for assembly at the Vietnamese assembly line for sale in the country.

Hyundai Thanh Cong Manufacturing Vietnam has assembled models that include the i10 mini car, the Accent subcompact, the Elantra compact and the Tucson and Santa Fe SUVs.

sam@yna.co.kr
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