Hyundai Motor’s all-electric IONIQ 5 is presented at the TC Group’s factory in Ninh Binh, Vietnam on April, 2022 in this photo provided by the Hyundai Motor Group.
SEOUL, June 22 (Korea Bizwire) — Hyundai Motor Co. and its affiliate, Kia Corp., are taking steps to solidify their top positions in Vietnam, which is emerging as a major automobile market in Southeast Asia.
In the Vietnamese car market, Hyundai maintained its No. 1 position in terms of sales for the third consecutive year, selling 70,518 units in 2021.
However, the South Korea’s top automaker was surpassed by Toyota Motor Corp. last year, despite a 15.7 percent increase in sales to 81,582 units.
Kia experienced a 33.4 percent surge in sales to 60,729 units, securing the third spot in the Vietnamese market.
Hyundai’s plans involve the introduction of new sport utility vehicle (SUV) and multipurpose vehicle (MPV) models in the Southeast Asian country.
Simultaneously, they will focus on promoting their existing models, such as the Accent subcompact sedan, Creta compact SUV, and Santa Fe SUV.
Moreover, Hyundai has set its sights on commencing full-scale production of its IONIQ 5 electric vehicle (EV) in Vietnam, starting in July. Their objective is to establish a strong presence in the country’s EV market.
Meanwhile, Kia aims to bolster its marketing and promotional activities for its Sonet compact SUV, Carnival minivan, and Sportage SUV.
According to the Vietnam Automobile Manufacturers’ Association, the country’s car sales totaled 404,635 units last year, representing a 33 percent increase from the previous year.
M. H. Lee (mhlee@koreabizwire.com)
