Hyundai Motor joined the list of the top 10 car sellers in Mexico a year after the company entered the market. Also, its market share has reached 2 percent for the first time in a year, showing a green light.
According to data from the Mexican Automotive Industry Association (AMIA) on June 15, Hyundai Motor sold 2,049 vehicles in the Mexican market in May and ranked 9th in sales, surpassing Renault with sales of 1,005 units. Also, BMW ranked 11th with sales of 982 units, following Suzuki with 970 units and Mercedes-Benz with 913.
In May last year, when Hyundai Motor first entered the Mexican market, the company sold 705 units and became the 13th-largest automaker in the market, following Renault, Suzuki, and Mitsubishi. From June when sales began in earnest, Hyundai Motor ranked 10th until April this year, overtaking Suzuki and Mitsubishi. The company ranked 9th last month, joining the list of top 10 vendors for the first time.
Nissan came in first with sales of 26,545 units, General Motors in second with sales of 19,581 units, and Volkswagen in third with 17,648 units.
As Hyundai Motors’ market share reaching 2 percent in the Mexican market for the first time, the company sold 8,532 units from Jan. to May this year, and its market share stood at 1.7 percent, becoming the 10th largest, followed by Renault.
As its affiliated firm Kia Motors will open its licensed store in Mexico from next month, sales of Hyundai Motor Group are highly likely to grow steadily.
Once Kia Motors’ plant in Mexico becomes operational in May next year, Hyundai-Kia Motors will accelerate the market invasion further in Latin America. Kia Motors has started construction of plant with an annual production capacity of 300,000 units from Oct. last year in Monterrey, Mexico. With the start of the K3 in May next year, the company will start mass production.