Hyundai Motor regaining traction in Russia

MOSCOW - Vyacheslav Vasilkov, a 30-year-old Russian who works at a local paint and varnishing firm, recently visited one of Hyundai Motor’s local dealerships to receive guidance on how to fully utilize all the features of the i30 compact vehicle he purchased a month ago.

“I’ve been driving for 13 years now and I’ve never driven a car of my choice with good design, quality and price.” Vasilkov said while looking at an i30 with a 635,900 ruble (25 million won, $20,524) price tag, adding that his recent purchase ranked as the first time he bought an imported vehicle. “I’m more than satisfied with being a Hyundai customer.”

Vasilkov is one of a growing number of Hyundai Motor customers in Russia, where Korea’s largest carmaker is attempting to mount a comeback after sales fell off a cliff in 2009 when the Russian auto industry tanked.

Hyundai Motor sold just 74,607 automobiles in the Russian market last year, ranking third among import brands. That was down significantly from 192,000 units in 2008.

Through August of this year, however, the company has sold 53,282 vehicles in the market, a 15 percent increase from last year. Hyundai Motor aims to sell 90,000 units for the entire year, which is still a far cry from 2008 levels but is a solid improvement over 2009.

“Considering that sales for other import brands including Nissan and Ford decreased this year and the overall Russian automotive industry grew only 14 percent, our performance is solid,” said Cho Kyung-rae, president of Hyundai Motor Commonwealth Independent States (HMCIS), which was established in 2007. Cho said sales for Hyundai will continue to thrive as the auto industry recovers. Additionally, construction of the company’s new manufacturing plant in Saint Petersburg is slated to wrap up tomorrow, which will help Hyundai Motor penetrate the market even further, Cho said.

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