Hyundai Motor, Korea’s leading automaker, and its smaller affiliate Kia Motors, posted a built up production of over 20 million automobiles in Brazil, Russia, India and China, much better called the BRICs(‘s’ stands for South Africa) market, the automakers stated Monday.
Hyundai and Kia made an overall of 20.6 million automobiles at their 12 factories in the BRICs market between 1998 and the very first half of 2016, they stated.
Their advancing production in China, the world’s biggest auto market, was tallied at 12.17 million, followed by India with 6.7 million, Russia with 1.14 million and Brazil with 620,000 throughout the mentioned period, as per the information provided by them.
Likewise, their output on the planet’s four fastest growing markets accounted for nearly 88 percent of their sales in the 4 nations, indicating that their abroad expansion in the emerging markets has actually achieved success.
Hyundai Motor established its first abroad plant in the region in India in 1998, and established factories in China in 2002. The automaker also began factory operations in Russia and Brazil, in 2011 and 2012.
The information showed that their production in these regions market accounts for one-third of its abroad output in total, which indicates the corporate duo might be susceptible to BRICs market-related threat.
In case of Russia and Brazil, a financial downturn, lower oil rates and currency variations pose a threat to international automakers having operations there.