“The cumulative value of used vehicles sold reached R14.32 billion in January, up from R12.89 billion in December and R12.59 billion a year earlier. The average transaction price moderated slightly to R416,082 from R419,537 in December, while average mileage declined to 70,938 km, continuing a gradual downward trend,” the data noted.

Toyota remained the leading brand in the used market, with 5,876 units sold in January, ahead of its German and American rivals Volkswagen (4,733) and Ford (3,577). More than half of Ford’s total came from Ranger midsize pickup sales, underlining continued strength in the bakkie segment (the category which defines the light commercial pickup trucks). The segment is known for being competitive, dominated by the Toyota Hilux, Ford Ranger, and Isuzu D-Max. And of late, Chinese manufacturers like Chery, with new, modern, and potentially electric models, have made their presence felt.

At the model level, the Ford Ranger retained its position as South Africa’s best-selling used vehicle, with 2,069 units sold, up 6.3% year on year. The Toyota Hilux followed with 1,604 units and similar annual growth. The Volkswagen Polo Vivo and Polo maintained their positions among the overall top four best-selling models.

Compact and value-driven models, on the other hand, registered some of the strongest gains. The Suzuki Swift moved ahead of the Toyota Fortuner in overall rankings, with 794 units sold and year-on-year growth of nearly 25%. The Toyota Corolla Cross and Hyundai Grand i10 also recorded notable annual increases, reflecting a continued consumer shift towards smaller, more affordable vehicles.

“None of the top 10 models posted a year-on-year decline, although performance varied across brands. Suzuki recorded the strongest month-on-month improvement, while Hyundai achieved the highest annual growth rate. BMW was the only major brand to register a monthly decline, although it remained up year on year,” reported Bizcommunity.com.

AutoTrader CEO George Mienie termed the January figures as an indication towards sustained consumer demand despite a high price base in 2025, with buyers continuing to prioritise affordability and proven nameplates.

“Bakkies and compact hatchbacks remained the dominant vehicle types in the market, reinforcing their role as core segments in South Africa’s used vehicle landscape as 2026 gets underway,” Mienie concluded.

The post Toyota, Ford lead South Africa’s booming used car sales: AutoTrader data appeared first on International Finance.

Regarding worldwide auto sales, the group—which comprises Hyundai Motor and Kia—comes in third place, behind Volkswagen and Toyota.

Research and development for next-generation products, electrification, software-defined cars, hydrogen fuel-powered items, and other technologies will account for 11.5 trillion won of its planned investment.

According to a statement from the group, it would also invest 12 trillion won in regular projects like increasing the production of new models and electric vehicles and roughly 800 billion won in strategic projects like autonomous driving.

As part of this, the firm intends to construct a plant for its novel “hypercasting” electric vehicle manufacturing technology at its Ulsan production site.

Tesla’s “gigacasting” technique, which streamlines production and reduces costs by using big single parts to create large portions of automobiles, is being adopted by Hyundai and other manufacturers.

“Hyundai Motor Group is making the largest investment ever in South Korea this year because it believes that continuous and stable investments are essential to overcome the crisis and secure future growth engines in the face of growing uncertainties,” the company stated without going into detail about the situation.

Euisun Chung, the executive chair of Hyundai Motor Group, recently mentioned global conflict and recession as external dangers. In early trading, Hyundai Motor and Kia shares were up 2.3% and 3.8%, respectively, before reversing gains to settle down 0.2% and up 2.3%. The overall market ended the day up 0.03%.

Following a decline in 2024 and falling short of their goals, Hyundai and Kia announced last week that they wanted to increase their combined global sales by 2% to 7.39 million vehicles in 2025.

Domestically, political unpredictability following President Yoon Suk Yeol’s imposition of martial law and subsequent impeachment caused consumer sentiment to plummet in December to its lowest level since the COVID-19 epidemic in 2020.

President-elect Donald Trump of the United States has declared his intention to impose universal 10% taxes on imported products.

To make its cars eligible for tax benefits under the previous government, which Donald Trump has stated he will eliminate, Hyundai Motor began manufacture at a facility in the US state of Georgia last year.

In November 2024, the carmaker appointed Jose Munoz, its global chief operating officer and US chief, as co-CEO, making him the first foreigner to hold that position at a significant South Korean corporation. Company observers attributed the appointment to the manufacturer’s need to navigate potential obstacles posed by the new Trump administration.

The post Hyundai boosts record investment amid incoming ‘Trump 2.0’ challenges appeared first on International Finance.

The US Attorney’s Office for the Southern District of New York claimed in its lawsuit that the automakers were negligent in failing to include anti-theft devices in their vehicles, which would have made them much more difficult to steal, reports The Verge.

Hyundai and Kia have now agreed to a USD 200 million settlement on the matter.

According to the US National Highway Traffic Safety Administration (NHTSA), the “Kia Challenge” has led to hundreds of car thefts nationwide, including at least 14 reported crashes and eight fatalities.

A group of thieves known as the “Kia Boys” were reportedly posting instructional videos on YouTube and TikTok about how to steal Kia vehicles. The videos gave a tutorial on how to bypass the vehicles’ security systems using tools as simple as a USB cable.

As per reports, the thefts were easy to pull off due to a manufacturing flaw in the Hyundai and Kia vehicles produced between 2015-2019. These vehicles lacked electronic immobilizers, a device which prevents thieves from breaking in and bypassing the vehicle’s ignition. The feature is standard equipment in the United States on nearly all vehicles from the same period made by other manufacturers. The flaw came to notice in September 2022.

A class-action lawsuit was filed in a federal court in Orange County, California, alleging that Kias built between 2011 and 2021 and Hyundai cars built from 2015 to 2021 were “deliberately” built without “engine immobilisers”.

As the challenge got viral on social media, police in several American cities reported a serious rise in car thefts.

Coming back to the USD 200 million settlement, it will only apply to around 9 million vehicles that lack push-button ignitions and anti-theft immobilizers. In February 2023, the companies also offered free software updates to extend the length of the alarm sound from 30 seconds to one minute and to require a key in the ignition switch to turn the vehicle on. The settlement also includes up to USD 145 million for out-of-pocket losses for consumers who had cars stolen, as per a Reuters report.

Talking about the ‘Kia Challenge’ on TikTok, The US state of Milwaukee has seen reported thefts of 469 Kia and 426 Hyundai vehicles in 2020 alone. The same numbers spiked in 2021 to 3,557 and 3,406 respectively.

The post Viral TikTok trend lands Hyundai, Kia in legal soup in the United States appeared first on International Finance.

The new Azera has reportedly been true to its origins of refined premium quality and luxury since its introduction in the year 1986.

The model comes with bold lines and a list of technologies and novel features to provide superior performances and remarkable levels of comfort for passengers.

Bryan Park, Head of Hyundai Middle East and Africa headquarters, said, “As a beautifully proportioned premium large sedan, the all-new Azera is reborn with a design that transcends generations and preferences with an impressive fusion of art and technology and impressive performance.”

As per reports, the exterior design of the model is both beautifully proportioned and smoothly sculpted, taking inspiration from Hyundai Motor’s vision of future mobility.

The new Azera is 5,035mm long, 45mm longer than the previous generation. With a 10mm longer wheelbase and 50mm longer rear overhang, the vehicle also comes with the added benefit of a roomier interior.

The car’s features like lower height and pushed-back cowl point and C-pillars carry a dynamic and uniquely premium style.

Be it the head to the rear lamps or side body panels, the new Azera presents a smooth and neat appearance. Its frameless and auto flush-type door handles too add to the vehicle’s value.

The new Azera has an interior space with a premium feel, while having a minimalist approach that focuses more on ergonomics, intuitive technologies, and sophisticated user convenience to provide a spacious yet premium feeling that promotes comfort and relaxation.

Along with the style, the premium sedan has also given top priority to the customers’ needs, with its two well-equipped trim levels “Base” and “Calligraphy.”

While the base is characterized by the slim ergonomic design and the reduction of physical buttons to improve usability, the innovation also creates a minimalistic, high-quality emotional space with a broad sense of space.

Talking about Azera’s calligraphy, it boasts a top-tier trim for a flagship large-sized sedan, leading a premium image with differentiated exclusive “Calligraphy–only” interior and specifications.

The new Azera’s interior trim and colours are inspired by nature, while carrying the elements of traditional Korean decoration, apart from favouring eco-friendly materials.

The new Azera also has two engine options. The 3.5-litre GDi engine option provides maximum engine output of 300ps and maximum torque of 36.6kgf·m. The 1.6-litre gasoline turbo hybrid engine option offers a maximum output of 180 ps and maximum torque at 27 kgf·m.

A hybrid electric vehicle variant of the new Azera has adopted ‘E-Motion Drive’, consisting of an ‘E-Comfort Drive’ mode to provide a smoother driving experience and another ‘E-Dynamic Drive’ to enable dynamic and stable performance during vehicle acceleration and cornering.

The new Azera has also adopted Connected Car Navigation Cockpit, Hyundai Motor’s new infotainment system, thereby opening a new chapter in the smart mobility experience.

The post Hyundai launches Azera Sedan in Middle East: All you need to know appeared first on International Finance.

Ms Mansi Madan Tripathy, Country Head, Shell Lubricants India Cluster, said: “Shell Lubricants has been working with Hyundai since 2008 to deliver premium quality products and services to partners and customers. Our shared values of customer centricity, and a strong focus on growth has helped us progress together in the last 10 years. This partnership has only expanded over time, and we look forward to another decade of industry-leading collaboration. Not only has our partnership stood the test of time, but truly redefines exemplary customer service and pioneering global best practices.”

Mr Y.K. Koo, Managing Director, HMIL, added: “Hyundai and Shell have progressed together for the last 10 years in the true spirit of partnership through collaboration and innovation with a common goal to maximise customer satisfaction. Hyundai’s long-term vision is to be the customers’ lifetime partner in automobile and beyond. By leveraging the strengths of the two global brands, we aspire to offer outstanding after sales experiences to Hyundai customers and look forward to fostering this strong and trusted association in future.”

Shell Lubricants and Hyundai launched the Shell Helix HX7 AH—a synthetic technology motor oil, in for the Franchise workshop network. Shell Helix HX7 promises to help keep Hyundai engines clean and efficient, preventing the formation of sludge & engine deposits. It also enhances fuel efficiency and helps engines to deliver better performance.

The post Shell Lubricants and Hyundai complete a decade of partnership in India appeared first on International Finance.

Australia showed another record year of new vehicle sales in 2016 with the market showing a distinct shift in preference for pickup trucks and sport utility vehicles while all the growth was driven by business demand.

Light commercial vehicles took 18.5 percent of the market in 2016, up from 17.2 percent the year before, a bullish sign for business investment.

Sales to businesses increased by 13 percent over the year while rental sales rose 6 percent. On the other hand, private sales fell by 5.8 percent and government sales by 1.4 percent.

For December alone, sales amounted to 98,763 vehicles, a dip of 0.9 percent on December 2015. Sales of light commercial vehicles jumped 8.5 percent compared to December 2015 while passenger vehicles and SUVs slipped.

The leading segments by volume were small cars (17.4 per cent share), medium SUVs (16.2 per cent), 4×4 utes (12.9 per cent share) and large SUVs (11.7 per cent).

The top brand was Toyota, followed by Mazda, Hyundai, Holden and Ford. Others in the market are Mercedes-Benz, Kia, Honda, Nissan, Mitsubishi and Volkswagen.

The post Australia new vehicle sales hit a record in 2016 appeared first on International Finance.