Hyundai’s HB20, a strategic compact hatchback produced at the company’s Brazil plant, has sold 1,340,131 units from its launch in 2012 through November of this year. (Image provided by Hyundai Motor)
SEOUL, Dec. 14 (Korea Bizwire) — Hyundai Motor is strengthening its position in Brazil, the largest automotive market in South America, widening its lead over Toyota as competition among Asian brands intensifies.
According to data released Sunday by the Brazilian vehicle distributors’ federation Fenabrave, Hyundai sold 182,948 cars in Brazil between January and November, capturing an 8.02 percent market share and ranking fourth overall. Toyota trailed in fifth place with a 6.96 percent share, or 158,864 units sold.
Fiat led the market with more than 480,000 vehicles sold, followed by Volkswagen and General Motors.
If current trends hold, Hyundai is expected to remain among Brazil’s top five automakers for the sixth consecutive year—a milestone reinforced by its expanding gap with Toyota. Hyundai overtook Toyota in annual sales in 2023 for the first time in five years, selling just over 206,000 vehicles, and is on track to widen that margin by more than 24,000 vehicles this year.
Hyundai’s compact SUV, the Creta (Photo courtesy of Hyundai Motor).
Industry analysts attribute Hyundai’s strong performance to an aggressive localization strategy built around local production and Brazil-specific models. The company operates a manufacturing plant in Piracicaba, São Paulo state, where it produces the HB20 compact hatchback and the Creta small SUV—two models tailored to Brazil’s preference for compact vehicles and, increasingly, entry-level SUVs.
The HB20 has sold more than 1.34 million units since its 2012 launch, while the Creta has surpassed 520,000 sales since 2017.
Hyundai is also poised to benefit from Brazil’s new Green Mobility Innovation (MOVER) program, which offers tax incentives to automakers investing in decarbonization technologies. The company has announced plans to invest US$1.1 billion through 2032 in hydrogen mobility and other eco-friendly technologies in Brazil.
It also intends to introduce hybrid flex-fuel powertrains and expand its electric-vehicle lineup, including the Ioniq 5 and Kona Electric.
Kevin Lee (kevinlee@koreabizwire.com)
