Vehicles assembled in Ecuador are adding three more models and expect to increase their share of total sales from 14% to 18%

In October, South Korean brand Hyundai began assembling its Creta model in Ecuador at the Aymesa plant, south of Quito. It is the second model of the Asian company to be produced in the country after the Gran i10. Hyundai’s $19 million investment to produce 2,400 units a year of this model is one of the latest to attract the Ecuadorian market, points out David Molina, president of the Ecuadorian Chamber of Automotive Industry (Cinae).

In recent weeks, the industry has announced two more new investment projects besides Hyundai. This is the case of Ciaut, who started the assembly pick up F3 AC from KYC and Great Wall’s Poer, both Chinese companies. “This is good news for the Ecuadorian industry, which includes at least 19% local content in each of these models,” says Molina.

A total of nine models of six different brands are being assembled in Ecuador, at a time when sales of vehicles assembled in the country are growing. According to Molina, from January to October of this year, 16,396 vehicles were sold, which represents 14.4% of the total sales of new vehicles across the country. In the same period in 2022, they represented 10.6% with 11,708 units sold.

These are the makes and models of vehicles that are assembled in Ecuador:

In Hyundai’s case, production at the Aymes assembly plant is expected to reach around 200 units of the Creta model per month, depending on demand. Marcos Malo, executive president of Neohyundai Ecuador, says the assembly process is done with parts from India. “This investment will not only enable the production of high-quality and safe vehicles in the country, but will also boost the local economy and strengthen our presence in the region.”

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Airton Cousseau, president of Hyundai Motor Brazil, Central and South America, points to this as progress in the regional expansion of the South Korean company. “Investing in Creta CKD production in the country is a sign of our continued commitment to the region and our desire to be a trusted partner to Ecuadorians. We will be working closely with Neohyundai Ecuador to ensure the success of this initiative and we are excited about what the future holds in this exciting market.” He said this on Friday in Quito in an official statement from the brand.

Assembled models are the best sellers in Ecuador

Chevrolet, the best-selling brand in the country with 19,823 vehicles from January to October, has more than 22 models and 52 versions available, including an electric model, according to Luis Vásconez, Chevrolet Ecuador sales manager. However, it is the D-Max, the only model that is assembled in the country, that is the best seller on the entire domestic market.

“In the case of our current offering, the Chevrolet D-Max is the best-selling and most sought-after model in the entire Ecuadorian market, with 7,338 units sold between January and October of this year. “Chevrolet pre-assembled vehicle sales are up 30% year-over-year in 2022, driven largely by strong demand for our Chevrolet D-Max.” He adds that considering the national industry, the production of GM OBB in Ecuador represents 60% of the national production of assembled vehicles.

Indeed, data from the Association of Automobile Companies of Ecuador (Aeada) places the Chevrolet D-Max as the best-seller in the truck segment, and by volume also as the best-seller in all other segments. Within its category, u top Five of those sold are the Toyota Hilux with 1,797 units sold from January to October, the JAC HFC 1037 series (1,737), the Great Wall Wingle (1,673) and the Ford Ranger model (1,036).

While Kia, the second best-selling brand, according to ranking Aeade with 19,158 units as of October, has 16 models available in its portfolio in Ecuador, of which only the Sonet is said to be assembled in Ecuador.

Kia models in Ecuador:

Electric:

1. Niro EV

2. Ev6

3. Ev9

Hybrids:

1. Niro hybrid

2.K5

Combustion:

1. Spicy

2. Dissolved substance

3. Rio 5

4. Cerato

5. Stonski

6. Sonnet

7. New Seltos

8. Sportage

9. Carens

10. Sorrento

11. Carnival

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José Antonio Errázuriz, commercial director of Kia, recalls that the Kia Sonet was first presented at Auto Expo 2020 as a concept. “It is one of the models that attracts the most customers, in terms of sales it represents 16.3% of Kia’s total sales, positioning it in second place among our best-selling cars in the Ecuadorian market.”

In it ranking Since the Aeada, the Sonet is the first SUV to go on sale with 3,129 units sold through October. He top 5 in that category is complemented by: G01 from Shineray (2,693), Jetour X70 from Jetour (2,491) and two more models from the South Korean brand Kia: Seltos (2,196) and Sportage (2,051).

According to Kia’s commercial director, the Kia Sonet represents a significant percentage of sales, which compared to 2022 had an increase of 14.6%: “If we translate this into the number of units sold, we have that 2730 units will be sold in 2022. , while 3,129 units have been sold so far in 2023.”

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These sales mean that expectations for 2024 with models being assembled in the country are also good projections. In the case of Kia, Errázuriz indicates that the Sonet model is expected to increase sales by 5% next year. “A modest and achievable goal, but we certainly hope to exceed it given the important innovations in terms of sales, subscriptions and excellent after-sales service.”

For his part, Vásconez estimates that in 2024, given the market conditions, he will achieve a sales volume similar to this year’s with the Chevrolet D-Max. While Cinae’s president hopes that the industry will gain market share next year, precisely because of the new assembly projects that have been announced. “It is expected that the market share could recover to 16 percent or 18 percent,” he estimates.