Hyundai Motor is giving a stiff competition to Toyota Motor to become numero uno in the automobile market in Africa. The company recorded 60 per cent growth since the beginning of the year.
Staying right behind Toyota which captured 14.7 percent of the African market share, Hyundai ended second by capturing 12.8 percent of the market share and while the company sold 10,051 units in January 2011, its sales in Africa reached 16,011 in October 2011.
Hyundai outperformed Toyota in five countries (which constitutes over 80 per cent car sales on the continent) namely Egypt, Algeria, Morocco, Angola and the Republic of South Africa. Hyundai captured 12.9 percent share of the five markets between January and August 2011, by selling 95,151 units, and Toyota on the other hand captured 12.8 per cent market share and sold 94,159 units in the five major markets.
Hyundai is exporting vehicles to Africa which are being rolled-out in India; company’s Indian arm, Hyundai Motor India produces 300,000 units per annum. The plant has exported over 247,000 vehicles to 120 countries.