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Africa|Automotive|Technology|Operations
Africa|Automotive|Technology|Operations
africa|automotive|technology|operations

Hyundai eyes passenger-car market increase following decline

18th November 2022

By: Irma Venter

Creamer Media Senior Deputy Editor

     

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Hyundai Automotive South Africa (HASA) CEO Niall Lynch says the Korean importer hopes to secure more new-vehicle stock from its parent company in 2023.

“If we had more cars, we could have sold more [this year]. It has been a good year, but hopefully next year we’ll have more stock.”

Lynch says Hyundai will work to improve its passenger-car market share next year, which slipped from 11.27% in the first quarter of the year, to 8.61% in the third quarter.

Sales dropped from 10 529 units in the first quarter, to 8 186 units in the third quarter.

Hyundai, as with all vehicle importers in South Africa, is also battling a deteriorating rand, which has weakened by about 25% against the dollar in the last four months, notes Lynch.

Apart from securing more new stock from Hyundai in South Korea, HASA is also positive that its rejuvenated Venue sports utility vehicle (SUV) should boost its numbers going forward.

HASA sales and operations director Stanley Anderson says the SUV and crossover market in South Africa “keeps on exploding”, in what he describes as the “most contested sector” in the local automotive industry.

The segment reached a passenger-car market share of 40.8% in the first eight months of 2021, expanding to 46.3% in the same period this year, with volumes increasing by more by than 30 000 units.

Hyundai sold more than 17 000 units of the Venue in South Africa before the introduction of the facelifted version.

The Venue range remains the same with the launch of the new model, bar the Glide, which is replaced with an N Line model.

The refreshed model features a new grille, as well as some fresh feature comforts and technology.

Pricing starts at R294 900, with the top-specced N Line available for R449 900.

Anderson adds that HASA will bring an electric Hyundai to South Africa “as soon as we believe it is viable. There are electric models available for us to order”.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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