Hyundai Motor and Kia to Sell 550,000 Vehicles in the Middle East, the 'Land of Opportunity,' by 2030

Hyundai Motor and Kia Aim for 20% Market Share in the Middle East by 2030
Develop Strategic Models, Introduce New Vehicle Types, Expand Electric Vehicle Share
Hyundai Ranks 2nd and Kia 4th in Saudi Arabia
Rapid Increase in Car Demand Following Legalization of Female Drivers
Annual Sales in the Middle East Expected to Grow by an Average of 6% Starting This Year

Hyundai Motor Company and Kia have set a mid- to long-term goal of selling 550,000 units in the Middle East, the "land of opportunity," by 2030. They are developing strategic models to target the Middle East market, which has immense growth potential, and will introduce new vehicle types that have not been sold there before. At the same time, they plan to increase the proportion of electric vehicles to respond to the rapidly growing industrial demand.

On the 20th, Hyundai and Kia announced a sales target of 550,000 units in the Middle East by around 2030. Hyundai aims for 350,000 units by 2032, and Kia targets 210,000 units by 2030. The industry expects that the demand for automobiles in the Middle East market will exceed 3 million units around 2030.

Last year, Hyundai and Kia sold 324,000 units in 14 Middle Eastern countries, including Saudi Arabia, capturing a market share of 14.2%. Hyundai and Kia plan to increase sales in the Middle East by an average of 6.8% annually from this year, aiming to hold nearly 20% of the market share by around 2030.

Hyundai and Kia’s Middle East Sales Grow 14% This Year, Gaining Spotlight in Saudi Arabia and Other Regions

Hyundai and Kia believe that achieving this goal is quite feasible based on their sales growth from the first to third quarters of this year. From Q1 to Q3 this year, Hyundai and Kia sold 281,097 units in the Middle East, a 14.2% increase compared to the previous year.

The strongest growth is seen in Saudi Arabia, the largest market in the Middle East. Last year, 28% of the Middle East’s automobile sales were in Saudi Arabia. The demand for cars in Saudi Arabia has surged recently due to economic growth, population increase, and the legalization of women driving.

In the first half of this year, Hyundai ranked second and Kia fourth in the Saudi Arabian automobile market. Hyundai sold about 52,000 units, securing the second-largest market share after Toyota. The best-selling models were the compact sedan Avante, subcompact sedan Accent, and the locally strategic compact sport utility vehicle (SUV) Creta. During the same period, Kia sold 21,000 units, ranking fourth. The top-selling models were the subcompact sedan Pegas, mid-size sedan K5, and mid-size SUV Sportage.

Hyundai and Kia attribute their strong performance in Saudi Arabia to price competitiveness, sporty and sophisticated designs favored by young and female drivers, spacious interiors relative to vehicle class, and high accessibility of after-sales service (A/S).

Hyundai Motor's Local Strategy SUV Creta
[Photo by Hyundai Motor]

Strategy to Increase Electric Vehicle Share and Introduce New Models

Hyundai and Kia have unveiled various strategies to strengthen their presence in the Middle East. First, they will expand the share of electric vehicles and accelerate the development of locally strategic models. They will also introduce new vehicle types such as pickup trucks and small multi-purpose vehicles (MPVs), which have not been sold in the Middle East before.

As of this year, Hyundai sells 32 models in the Middle East, including six electric vehicles such as the Ioniq 5 and 6. Hyundai plans to double its electric vehicle lineup by 2027 by introducing electric vehicles across various classes. Through this, one-third of Hyundai’s Middle East lineup will be electric vehicles, and by 2032, more than 15% of Hyundai’s sales volume in the Middle East will be electric vehicles. Additionally, Hyundai launched the connected car service "Blue Link" to target younger customers and is focusing on cultivating excellent dealers to strengthen service quality.

Kia also plans to increase its electric vehicle models from about four this year to 11 in the future. It will establish electric vehicle-exclusive marketing and showrooms and expand charging service infrastructure. Kia is also considering developing and launching strategic models tailored to Middle Eastern consumer preferences.

A Hyundai and Kia official said, "Since each country in the Middle East has distinct characteristics, we will build a premium brand image through differentiated product strategies and services for each market. We will create various measures to target the Middle East, including expanding electrified models."

This content was produced with the assistance of AI translation services.