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| A photo of the Genesis G70 manufactured by Hyundai Motor. Korea Times file |
By Lee Kyung-min
An increasing number of buyers of automobiles manufactured by Hyundai Motor, and its affiliate Kia, are expressing frustration over longer-than-expected order delays of up to 30 months, according to industry officials Thursday.
Some consumers here say export-driven car manufacturers are prioritizing overseas markets, fully capitalizing on a recent rare short-term boon sustained by a 20 percent year-to-date sharp depreciation of the Korean currency against the greenback. The weaker local currency enables local exporters to sell their goods at a cheaper price in the global market. Their year-on-year and quarter-on-quarter overseas sales growth will be considerable.
However, auto manufacturers cite a supply crunch in auto semiconductors, brought on and amplified by the pandemic-induced global supply chain crunch, exacerbated further by an overall spike in demand for automobiles over the past few years.
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| A photo of K7 manufactured by Kia Motor. Korea Times file |
"I have to wait two and a half years to buy a Genesis or any sports utility vehicle (SUV) made by Hyundai or Kia? I don't understand it," a consumer said on an online forum. "The delay was only about seven months a year ago. Why aren't they making them fast?"
The sentiment is shared by many car buyers, most of whom have to wait longer than they did about a year before.
Data from getcha, a local automobile trading platform, showed that the buyers of 26 models made by the two auto giants would have to wait for up to 30 months, significantly longer than about 11 months a year earlier.
The production of Hyundai's three popular sedans, Avante, Sonata and Grandeur, as well as Santa Fe Hybrid, an SUV, will be delayed by between six and 20 months.
A three-to-five month delay is expected for buyers of Kia's sedans K3 and K5. The period will be up to 8 and a half months for K5, K8 and Sorrento Hybrid.
A local industry official said the ongoing supply crunch is a global phenomenon, denying the local consumers' claims.
"Not only Korean consumers but also overseas consumers are experiencing delays. The claim that we prioritize overseas consumers at the expense of local ones is simply wrong."
The higher end the vehicle is, the higher the number of semiconductors and related parts needed, the official said.
"Whether they are electric vehicles (EVs) or hybrids, the newest models need the newest chips and parts, the procurement of which can take a while. We will try our best to promptly meet the soaring demand of consumers that choose to buy our vehicles."
