Hyundai Motor Group captures more South African market share
The Korean mobility giant, comprising Hyundai Motor Company and Kia, sold a combined total of 4,266 vehicles in April, according to a National Association of Automobile Manufacturers of South Africa report issued earlier this month.
Hyundai Motor Company accounted for 2,989 units, up 41 percent from a year earlier, and its smaller affiliate Kia marked a 24 percent increase with 1,277 units sold.
Thanks to this robust growth, Hyundai Motor Company became the fourth-largest automaker by sales volume in South Africa, overtaking Ford and trailing behind Toyota, Suzuki and Volkswagen.
Hyundai Motor Group also maintained its fourth-place ranking among global automotive groups in South Africa for both April 2024 and April 2025. The April sales boost pushed the group's year-to-date sales up by 27 percent, outpacing the overall market growth of 16.9 percent during the same period.
According to automotive data tracker Marklines, the group's success in South Africa is largely driven by a renewed appreciation for its strategic models tailored to local conditions.
Hyundai Motor's compact hatchback i10 has played a pivotal role, with 1,425 sold in April alone — a 73 percent increase on-year.
Produced primarily at Hyundai's Indian manufacturing facilities, the car's compact size — 3,765 millimeters in length and 1,660 mm in width — offers agile maneuverability in narrow urban environments.
Last year, the i10 accounted for 14,410 of the 45,556 vehicles Hyundai Motor Group sold in South Africa, ranking fifth among all passenger vehicles sold in the country in 2024.
Other compact models tailored to the region, such as Kia's sport utility vehicle Sonet, also contributed significantly to the group's sales, according to Marklines.
South Africa is the largest car market in Africa. Last year, the country's vehicle demand reached approximately 351,556 units, accounting for nearly half of the continent's total sales estimation of 775,597, according to the International Organization of Motor Vehicle Manufacturers.
To sustain growth amid rapidly shifting international market conditions, Hyundai plans to accelerate its penetration into previously less-focused markets by introducing more models tailored specifically to regional needs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
![[Editorial] Tax reform misstep](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
5 hours ago
- Korea Herald
[Editorial] Tax reform misstep
Misguided tax policies threaten to derail South Korea's fragile market rebound The Lee Jae Myung administration's first major tax reform was intended to tackle rising fiscal pressures and address long-standing structural imbalances in South Korea's tax regime. Instead, it has rattled markets, drawn criticism from global financial institutions and exposed fractures within the ruling party. On Friday, just a day after the blueprint's release, the benchmark Kospi and tech-heavy Kosdaq indices each fell by around 4 percent, a sharp reversal for markets that had only recently begun to regain momentum. Investor sentiment, already tentative, swiftly deteriorated. At the heart of the controversy are two measures: raising the top corporate tax rate by 1 percentage point to 25 percent and lowering the threshold for capital gains taxation on large shareholders from 5 billion won ($3.6 million) to 1 billion won. These proposals would reverse cuts introduced under the previous Yoon Suk Yeol administration and are projected to raise 8.2 trillion won in additional revenue next year. Yet the backlash has been swift and pointed. Critics have highlighted the reform's poor timing, lack of strategic coherence and a clear disconnect from the government's stated goal of capital market revitalization. CLSA described the measures as 'only sticks, no carrots.' Citigroup downgraded Korean equities in its emerging markets portfolio, citing misalignment with Korea's "value-up" initiative. JPMorgan similarly warned that any credible rerating of Korean stocks would require more than cosmetic shifts in policy. The irony is difficult to overlook. An administration that campaigned on market revitalization — pledging, no less, to drive the Kospi to 5,000 points — now finds itself accused of undermining its own narrative. Markets reacted unequivocally. Within a single trading session, 116 trillion won in market capitalization was wiped out. This erosion of household and institutional wealth is not merely symbolic; brokerages estimate it could shave more than 8 trillion won off future consumption. Political consequences have been just as swift. At least 13 lawmakers from the ruling Democratic Party of Korea have raised objections, while senior party figures have contradicted one another over whether the capital gains threshold should be reconsidered. Compounding the confusion are mixed signals from the presidential office, which have further heightened investor anxiety. Such incoherence is particularly damaging in a market where foreign investors account for nearly a third of all trading volume. These stakeholders depend not just on fundamentals, but on clarity, consistency and credible policymaking. Many observers argue the reforms stray from international norms. The dual imposition of capital gains and transaction taxes is widely viewed as excessive, particularly in comparison to major markets that opt for one or the other. The revised threshold for large shareholders is also seen as overly aggressive. Meanwhile, long-promised dividend tax relief has proved underwhelming, as it is narrowly targeted and still capped at a steep 35 percent, well above the 25 percent ceiling proposed in April by Democratic Party lawmaker Lee So-young. More fundamentally, the reform poses a critical question: Must fiscal consolidation come at the expense of market stability? In an open, export-driven economy exposed to global volatility, US tariffs and rising geopolitical risk, abrupt shifts in tax policy could alienate the very investors South Korea seeks to attract. President Lee is right to stress the importance of fiscal discipline. But credibility rests not only on budget arithmetic — it also depends on coherence. South Korea needs tax reform. What it does not need is a policy lurch that unsettles markets, contradicts strategic priorities and undercuts investor trust. If the Lee administration is serious about building a more dynamic, investment-friendly economy, it must steer clear of ad hoc reversals and restore clarity to its reform agenda.
Korea Herald
13 hours ago
- Korea Herald
India accuses EU, US of double standard over Russian trade
NEW DELHI -- India has sharply criticised the United States and the European Union, saying it is being unfairly singled out by them over its Russian oil purchases when they both trade extensively with Moscow despite the war in Ukraine. India's criticism followed a renewed threat by US. President Donald Trump on Monday to raise tariffs on goods from India over its Russian oil purchases, deepening the trade rift between the two countries. In a rare show of unity, Prime Minister Narendra Modi's Bharatiya Janata Party and the main opposition Congress on Tuesday condemned Trump's repeated criticism of New Delhi. India's Foreign Ministry said in a statement issued late on Monday that "it is revealing that the very nations criticising India are themselves indulging in trade with Russia". "It is unjustified to single out India," the ministry said. It said the EU conducted 67.5 billion euros ($78.02 billion) in trade with Russia in 2024, including record imports of liquefied natural gas reaching 16.5 million metric tons. The US, the statement said, continues to import Russian uranium hexafluoride for use in its nuclear power industry, palladium, fertilisers and chemicals. It did not give a source for the export information. The US embassy and the EU's delegation in New Delhi did not immediately respond to a request for comment. Both the United States and EU have sharply scaled back their trade ties with Russia since it launched a full-scale invasion of Ukraine in February 2022. In 2021, Russia was the EU's fifth-largest trading partner, with goods exchange worth 258 billion euros, according to the EU executive European Commission. Sudden rift The sudden rift between India and the US has been deepening since July 31, when Trump announced a 25 percent tariff on Indian goods being shipped to the USand for the first time threatened unspecified penalties for buying Russian oil. India is one of the biggest buyers of crude from Russia, importing about 1.75 million barrels per day from January to June this year, up 1 percent from a year ago. Indian refiner Nayara Energy, a major buyer of Russian oil which is majority owned by Russian entities including oil major Rosneft, was subjected to European Union sanctions targeting Russia's oil and energy industry in July. India has said it does not support "unilateral sanctions" by the EU. Trade experts say Trump's tariff could badly hurt India's economy. Ajay Srivastava of the New Delhi-based Global Trade Research Initiative said he expected Indian goods exports to the US to fall 30 percent in the current fiscal year ending March 31, to $60.6 billion from $86.5 billion in the 2025 fiscal year. India's equity benchmarks fell after Trump's renewed threat of harsh tariffs on goods from India. Manish Tewari, a member of parliament and Congress leader, said Trump's "disparaging remarks hurt the dignity and self-respect of Indians". "The time has come to call out this constant bullying and hectoring," he added. BJP Vice President Baijayant Jay Panda quoted Henry Kissinger - the most powerful USdiplomat of the Cold War era - in a post on X: "To be an enemy of America can be dangerous, but to be a friend is fatal." (Reuters)
Korea Herald
15 hours ago
- Korea Herald
Sharjah Records $7.3B Real Estate Transactions in First Half of 2025, up 48.1%
PEOPLE FROM 109 COUNTRIES INVEST IN SHARJAH IN H1 – INDIAN, SYRIAN INVESTORS LEAD SHARJAH, UAE, Aug. 5, 2025 /PRNewswire/ -- Real estate transactions in the emirate of Sharjah surged to $7.3 billion in the first half of 2025, up 48.1% from $4.9 billion in the same period last year, according to Sharjah Real Estate Registration Department. The number of transactions rose to over 48,000, a 3.3% increase from 2024. Investors from 109 nationalities participated, reflecting Sharjah's growing appeal as a global real estate destination, driven by diverse property offerings, advanced infrastructure, and rising investor confidence. Emirati investors led investments with $3.3 billion in transactions. Other Gulf nationals added $0.3 billion, bringing total GCC investments to $3.6 billion. India recorded a significant increase with nearly $1 billion in investments. Among Arab nationalities, Syrian investors recorded the highest value at $405 million, followed by investors from Pakistan, Jordan, Iraq, and Egypt. Britain Leads European Investments The United Kingdom ranked ninth overall, leading European investors with $123 million in transactions. It was followed by France, Germany, the Netherlands, and Sweden, along with Italy, Ukraine, Greece, Switzerland, Ireland, and Belgium. The US, Canada, and Australia collectively invested $191 million. Abdulaziz Al Shamsi, Director General of the Sharjah Real Estate Registration Department, credited the government's commitment to a modern legislative framework for strong performance. "Current indicators are promising for a prosperous future in the real estate sector", he said. "We are also continuing our efforts to reinforce Sharjah's position as a leading economic and real estate hub both regionally and globally."
