Industry officials said Hyundai Motor Brazil (HMB) recently opened a new dealership in Campo Mourao, Parana state. The site covers 1,500 square meters, including a 250-square-meter showroom.
Hyundai currently operates about 240 official dealerships across five regions in Brazil. It plans to expand to at least 250 by the end of the year, increasing customer touchpoints as it seeks a rebound in the market.
Brazil is Hyundai Motor Group’s only production base in Central and South America and is home to Hyundai’s Brazil unit and its regional headquarters. Brazil’s passenger-car sales have risen each year since 2021, when 1,557,957 vehicles were sold, and totaled nearly 2 million last year. Hyundai’s influence, however, has been fading.
Hyundai’s annual sales in Brazil have held around 200,000 vehicles, but its market share has declined each year since peaking at 11.87% in 2022. Last year, sales fell from a year earlier and its share slipped to 10.05%.
The gap with rivals remains narrow. Hyundai has ranked fourth in Brazil’s passenger-car market for eight straight years, while the top three — Volkswagen (18.32%), Fiat (15.22%) and General Motors (11.18%) — are also competing in a tight race with shares in the teens.
Chung Euisun, chairman of Hyundai Motor Group, met in 2024 with Brazilian President Luiz Inacio Lula da Silva and said the group wanted to “grow together with Brazil, not simply sell cars,” announcing plans to invest a total of US$1.1 billion (about 1.46 trillion won) through 2032.
Hyundai is developing a dedicated powertrain for hybrid flex-fuel vehicles and plans to introduce electric models such as the Ioniq 5 and Kona Electric in Brazil. The country is pursuing the Green Mobility Innovation (MOVER) program, which offers tax benefits to automakers investing in decarbonization, a move expected to favor Hyundai’s electrification push.
Hyundai Motor Group also plans to pursue new business opportunities by extending its global hydrogen network into Central and South America, with Brazil as a hub. It set up a dedicated hydrogen business team for the region in Brazil in late 2023 and is working to develop the market.
* This article has been translated by AI.
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