Hyundai Motor Group vice chairman Chung Eui-sun is visiting Russia to check the operation of the company’s manufacturing plant in Saint Petersburg and set up a local marketing plan for the second half of this year. Chung left for Russia on July 6 for an eight day trip.
Put into operation in January 2011, the plant has an annual production capacity of 200,000 vehicles, which are divided into the Hyundai Creta, the Hyundai Solaris and the Kia Rio. At present, local market conditions are favorable for the group. Its sales volume in the country fell from 375,000 units to 320,000 from 2014 to 2015 and then to 290,000 in 2016 amid an economic recession. However, it rebounded to 340,000 last year. The Kia Rio sold 96,689 units last year to become a best-selling model in the Russian market. Likewise, the Solaris and the Creta ranked fourth and fifth, respectively.
For the first five months of this year, the group sold 161,996 cars in the market, up more than 30% from a year earlier. The group’s annual sales volume in Russia is estimated to total 400,000 this year.
“Hyundai Motor Company and Kia Motors are the second- and third-largest automakers in Russia, respectively,” said an industry source, adding, “Considering their high growth rates, the plant in Saint Petersburg is likely to be expanded in the near future.”