Hyundai tops auto sales in Vietnam in 2015
Students, participating in Hyundai Motor hosted "Art Dream Movie Production" program, speak during the Q&A session at a CGV theater in southern Seoul, Saturday. Hyundai put up seven movies themed on "growth" on screen that 50 young students participated in production on screen as part of its social contribution activities. / Courtesy of Hyundai Motor
By Park Jin-hai
Hyundai Motor and its smaller sibling Kia Motors were the top sellers of vehicles in Vietnam last year, according to industry data Sunday.
The two sold a combined 62,189 automobiles with a market share of 29.8 percent, beating global leader Toyota Motor in one of the fastest growing Southeast Asian auto markets last year.
This is the first time for Hyundai and Kia to top the market where Japanese carmakers had retained a dominant position.
Toyota posted sales of 50,285 vehicles, with its market share standing at 24.1 percent.
Hyundai and Kia’s achievement largely stems from the latter’s outstanding performance in the country.
Thanks to the rising popularity of its small K3000 Bongo truck, Kia’s Vietnam sales jumped 71.7 percent in 2015 from the previous year. Its growth outperformed the overall 55.3 percent gain for the Vietnamese automotive market.
The K3000 truck was the second best-selling vehicle, with sales nearly doubling last year to 14,201, from 8,563 in 2014.
With the help of K3000, Kia sold a total of 38,484 cars and vans, while Hyundai sold a total of 23,705.
Hyundai’s auto sales, thanks to its best-selling Grand i10 compact hatchback, have also tripled in two years, from 7,585 cars in 2013.
The Grand i10, launched in 2013, saw 15,873 in sales last year, making it the top-selling model there.
“Hyundai and Kia’s best-ever sales performance is more meaningful, in that we achieved it as late comers to the market where Japanese rivals predominated,” said a Hyundai official.
Vietnam is one of the fastest growing auto markets among Southeast Asian countries. Sales have seen a 55.3 percent rise in 2015, following a 43.4 percent jump a year earlier.
The auto industry there is enjoying high growth potential, due to government policies to boost the industry.
Vehicle ownership rate remains at 4 vehicles for 1,000 people as of 2013, just 1 percent of that of Korea.
Hyundai and Kia Motors say they will make greater efforts to tap deeper into the growing market.
“When the global auto industry shows slower growth, Vietnam’s growth carries more meaning. With the technology development and strategic model launches, we will concentrate to make it a springboard to other ASEAN nations,” said the Hyundai official.