Kazakhstan. Hyundai taking the lead in market up 20.9%

Kazakhstan Vehicles Market in 2020 is keeping the momentum going. Indeed, in January registrations surged 20.9% at 5.175 units. Hyundai has taken the market lead – signing the 5th consecutive monthly win – reaching 22% of market share, outpacing the historic leader Lada.

Economic Environment

Market Trend

Following and supporting the rapid economic development, the automotive industry born in early days of this century, was one of the fastest growing in the World in the decade ended in the 2013. In that year sales at 163.537 units scored the tenth annual all time record in a row.

The growth was too fast and when the C.I.S. region entered in recession due to the collateral effect of ONU sanctions to Russia, the market dropped down, with price increased, additional tax on the sector and negative consumer demand.

Performing worse than any expectations, the domestic market dropped down for three consecutive years, losing near 70% of record volume and landing at 46.327 units at the end of the 2016. In 2017, a new positive pathway was taken, and in 2018 sales increased at 58.465, revoering 24.4%.

The recovery continued in 2019 when all months have been reported year-on-year growth, ending at 72.357, up 24.4% from the previous year.

In 2020, as reported by the Kazakhstan Auto Association, the car market is keeping momentum up. Indeed, in January registrations surged 20.9% at 5.175 units.

Brand-wise, Hyundai has taken the market lead – signing the 5th consecutive monthly win – soaring 40.8% and reaching 22% of market share. Indeed, the former leader Russian Autovaz (Lada), which has dominated in the previous decade, falls in 2nd position with just 17.7% of share, ahead of Toyota (-26.6%).

Kia and Renault are registring an aggressive pace, both booming over 50% from 2019.

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