The divergence comes as the automaker accelerates localization strategies amid rising global protectionism, but weak demand and intensifying competition have weighed on its Southeast Asian operations.
According to Hyundai Motor Group on Wednesday, the company produced 3,847,741 vehicles across nine global plants last year, recording an average utilization rate of 81.2 percent. Plants in Korea, the United States, Türkiye and Brazil all posted utilization rates exceeding 100 percent.
Hyundai’s domestic plants produced 1,846,837 vehicles, with utilization reaching 102.1 percent. Brazil recorded 214,139 units at 102 percent, while the Alabama plant in the United States produced 362,000 units with a 100.6 percent rate. Türkiye produced 197,000 vehicles at 98.5 percent, and India produced 772,830 vehicles at 94.2 percent.
The Hyundai Motor Group Metaplant America (HMGMA) in Georgia, which began operations last year, produced 66,420 vehicles, with utilization rising to 65.3 percent.
In contrast, Hyundai’s Vietnam plant recorded a utilization rate of 37.6 percent, down from 48.9 percent a year earlier, with output falling to 42,540 units. Indonesia also lagged, posting a utilization rate of 47.3 percent, down from 57.2 percent the previous year.
Analysts attributed the slowdown to weaker regional demand, intensifying competition and the rapid shift toward electric vehicles.
Indonesia also saw domestic sales decline 7.2 percent to 803,687 units, data from the Indonesian Automotive Industry Association showed. Japanese brands Toyota, Mitsubishi and Suzuki held about 45 percent of the market, while China’s BYD entered the top five. Hyundai ranked 10th with about 3 percent.
Despite the slowdown, Southeast Asia remains central to Hyundai’s localization strategy. The company plans to increase local sourcing in Vietnam and introduce new EV models, while building a full EV value chain in Indonesia and launching 15 new models by 2028.
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