Hyundai Motor seeks to expand presence in Brazil

Hyundai Motor HB20 / Courtesy of Hyundai Motor

By Kim Hyun-bin

Hyundai Motor is on the verge of achieving a double-digit sales share of the Brazilian market for the first time. According to statistics from the Brazilian Automobile Dealers Association, Monday, Hyundai sold a total of 171,312 vehicles in the Brazilian market between January and November this year, achieving a 9.8 percent share. In terms of sales by brand, it ranks fourth after Fiat, GM and Volkswagen.

Attention is on whether Hyundai Motor, which set a record annual market share of 9.9 percent in 2016, could achieve a double-digit market share this year.

Hyundai Motor entered the Brazilian market in 2012, selling 108,347 vehicles in its first year and ranking eighth in sales with a 3 percent market share. As its sales volume increased gradually, the market share rose to 5.9 percent (2013), 7.1 percent (2014) and 8.3 percent (2015).

Annual sales exceeded 200,000 vehicles for three consecutive years from 2017 to 2019, but Hyundai Motor's sales ranking fell to seventh in 2019 due to increased sales volumes of Toyota, Renault and Ford. Hyundai Motor's market share also fell to the 8 percent level.

Hyundai Motor performed well while minimizing production disruptions amid a slump in the Brazilian car market due to COVID-19.

Last year, the Korean automaker sold 184,284 vehicles, up 10 percent compared to 2020, raising its market share to 9.3 percent. The model that is leading Hyundai Motor's upward trend is the HB20, a strategic model developed for the Brazilian market.

“This is a sign that Hyundai's marketability is being recognized in the Brazilian car market, and we will strive to give satisfaction to our customers by selling local strategic models steadily,” a Hyundai Motor Group official said. “As the Brazilian market is an emerging market with high potential for future development, we will continue our efforts to capture the hearts of customers with local strategic models.”

From January to November this year, 89,286 HB20s were sold in Brazil, ranking first in sales of passenger vehicles and second in sales of all models.