Hyundai Motor achieved a double-digit market share in Brazil’s passenger car market for the first time in its history.
According to industry sources on July 16, Hyundai Motor sold 17,517 passenger cars in Brazil last month, with a market share of 10.0 percent.
This figure is higher than the previous record-high market share of 9.3 percent set in May. In June, Hyundai Motor ranked No. 5 in the Brazilian car market in terms of market share. Staying ahead of Hyundai Motor are Fiat, Volkswagen, GM, and Ford.
Hyundai Motor is closely chasing the No. 4 player Ford which had a share of 10.8 percent last month. The gap between them was narrowed to 0.8 percentage point in June from 3.1 percentage points in May.
Key factors behind the rising profile of Hyundai Motor in Brazil include the aggressive sales of its strategic model HB20 which was sold 14,102 units last month, becoming the best-selling passenger car in Brazil.