VNExpress-Nov 5
Of the 198,000 vehicles Kia and Hyundai sold in the six largest Southeast Asian markets last year, Vietnam alone accounted for 142,000, a 72% share. Indonesia, Thailand, Philippines, Malaysia, and Singapore together accounted for only 56,000 vehicles. In Vietnam Hyundai sold 81,582 cars, behind only Toyota, while Kia was third with 60,729 units. The two South Korean companies had a 28% share of the market. In Southeast Asia, only in Vietnam were either in the top three in terms of sales, and in fact had less than a 1% market share in every other country. The two also have the most models in Vietnam: 10 each. Countries like Vietnam and Indonesia have demographics with a high proportion of young people, many of whom admire K-Pop and South Korean culture in general, an advantage for automakers trying to sell vehicles, a South Korean auto industry official told The Korea Economic Daily. South Korean cars entered Vietnam decades ago, starting with Daewoo in 1993, followed by Ssangyong, Kia and Hyundai.By assembling in Vietnam, Kia and Hyundai find it easier to release more versions of each car than their competitors and offer wider price ranges, thus reaching all kinds of customers. Read more at: https://e.vnexpress.net/news/business/industries/vietnam-by-far-the-biggest-market-for-south-korean-cars-in-southeast-asia-4672441.html
