M a r k e t N e w s
Hyundai set to return to East Africa
Posted on : Friday, 6th November 2015
Hyundai Motors abandoned the EA market a decade ago, but is now looking to return. The company’s Regional Marketing Director Sam Lee says that while “Hyundai has been absent from East African roads for over a decade”, they now “consider the region as a significant market and will be making strategic investments to make Hyundai cars the leading models in the region.”
Hyundai will reportedly be making a US$22 million investment into its Hyundai E.A. Holdings Ltd over the next three years in a bid to increase sales in the region and also provide it with authentic spare parts.
At present Kenya’s auto industry is dominated by Toyota, which has a 37.83 percent market share, according to KMI data. Next is GM with 23.47 percent, and then Simba Colt with 11.05 percent.
Source : www.blog.kpmgafrica.com
