South Korean car buyers are growing frustrated over delivery delays from Hyundai, Kia, and Genesis.
While the car manufacturers state that delays can be attributed to the ongoing semiconductor shortage and the overall growth in demand for new vehicles, many consumers believe the Hyundai Motor Group is prioritizing overseas markets due to the depreciation of the Korean currency against the United States dollar, meaning exporters can sell products at a cheaper price in the global market.
Korea Times has revealed that some consumers are being told they will need to wait up to 30 months before taking delivery of a new Hyundai, Kia or Genesis model. Indeed, local car trading platform getcha has revealed that buyers of 26 models made by the carmakers will have to wait up to 30 months, up from the 11 months wait time a year earlier.
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“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,” one buyer said on a local forum. “The delay was only about seven months a year ago. Why aren’t they making them fast?”
It is understood that the Kia K3 and K5 have been delayed by three to five months and up to 8 and a half months for select K5, K8, and Sorento Hybrid models. Meanwhile, buyers of the Hyundai Avante, Sonata, Grandeur, and Santa Fe will need to wait between six and 20 months before collecting the keys.
A local official has denied claims that overseas buyers are being prioritized.
“Not only Korean consumers but also overseas consumers are experiencing delays,” the official said. “The claim that we prioritize overseas consumers at the expense of local ones is simply wrong. 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.”
