Hyundai Motor Sees Silver Lining in Brazil Market | Be Korea-savvy

Hyundai Motor Sees Silver Lining in Brazil Market

Hyundai Motor's 'New HB20' displayed in Sao Paulo. (Image : Yonhap)

Hyundai Motor’s ‘New HB20′ displayed in Sao Paulo. (Image : Yonhap)

SEOUL, March 21 (Korea Bizwire)Hyundai Motor achieved its first salesgrowth in Brazil in 11 months in February, despite the South American country’s severe economic slump, industry officials said Sunday.

The officials said Hyundai sold 13,922 vehicles in Brazil last month, up 6.3 percent from the same month in 2015.’

It is the first time since March last year that the top South Korean automaker has attained a year-on-year monthly sales increase.

Hyundai’s Brazilian market share, which rose from 7.1 percent in 2014 to 8.3 percent in 2015, climbed to 9.8 percent in the first two months of this year.

Brazil’s entire auto sales tumbled 20.5 percent to 142,068 units last month. Hyundai ranked fourth in the country’s market share after GM, Fiat and Volkswagen.


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