Hyundai Motor CIS

Hyundai Motor CIS, created in 2007 and became the exclusive distributor of Hyundai cars in the Russian Federation, has one of the largest dealer networks in Russia, with 187 dealerships throughout the country.

Performance indicators

2022: Halving revenue to RUB 112 billion

The revenue of Hyundai Motor CIS LLC in 2022 amounted to 112 billion rubles against 224.3 billion rubles. Thus, sales from the Russian representative office of the South Korean automaker more than halved. At the same time, the company's net profit increased 1.8 times and reached 12.6 billion rubles. Such data were released in early April 2023.

According to Interfax, citing the reports of Hyundai Motor CIS LLC, the company's revenue from new car sales decreased from 208.8 billion rubles in 2021 to 93.5 billion rubles a year later, from the sale of components - from 11.4 billion to 9 billion rubles. At the same time, revenue from sales of used cars increased (from 1.8 billion to 6.9 billion rubles) and from rental (from 1.2 billion to 1.5 billion rubles).

Net profit of the company increased 1.8 times and reached 12.6 billion rubles

The cost of sales of Hyundai Motor CIS LLC in 2022 fell to 89.9 billion rubles from 204.1 billion rubles a year earlier. Commercial expenses decreased from 8.9 billion to 4.2 billion rubles. Management expenses decreased by 12%, to 1.4 billion rubles. Gross profit increased by 9.4%, to just over 22 billion rubles, profit before tax - 1.9 times, to 15.9 billion rubles. Total debt decreased from 27.5 billion to 5.7 billion rubles, including short-term liabilities from 27 billion to 5.4 billion rubles.

It is also reported that the Russian representative office of Hyundai in 2022 more than tripled in monetary terms purchases from related parties - from 137.6 billion to 44 billion rubles: cars worth almost four less were purchased from the plant in St. Petersburg than a year earlier - by 28.4 billion against 116.5 billion rubles. In 2022, dealers managed to sell 48,555 Hyundai and Genesis cars (in 2021 - 164,692 units).

As for the lineup, Hyundai Solaris (14,899 units; -75.5% versus 2021) and Hyundai Creta (13,904 units, -78.7%).^[1]

History

2021

A sharp rise in car prices in Russia

Comparison of car prices in 2020-2021

Hyundai summed up the results of digital transformation in Russia

At the end of May 2021, Hyundai spoke about some of the results of the digital transformation in Russia. Some of the technology projects were implemented with the help of a subsidiary startup Hyundai Mobility Lab, whose number of employees in two years increased from 7 to 38 people.

One of the results of Hyundai's digital transformation was the online UKA ride-hailing car service. It allows you to issue and pay for the purchase of cars completely via the Internet without involving intermediaries.

Hyundai summed up the results of digital transformation in Russia? one of the results is the launch of the UKA service

By the end of May 2021, the application was downloaded about 17 thousand times, the system recorded about 6 thousand active users. From April 07 to May 25, 2021, almost 70 requests were received for booking and further purchase of used cars on the UKA platform.

Hyundai's consistent digitalization strategy also includes the Mobikey digital key project, which allows the owner to share access to the car online, connect subscriptions to various concierge services and more. During its existence, the special Mobikey application has been downloaded more than 15 thousand times on Google Play and almost 11 thousand times on the App Store. By the end of May 2021, more than 16 thousand people are actively using Mobikey services.

Hyundai's digital services include more than just projects being implemented by Hyundai's Mobility Lab startup. Hyundai's proprietary online sales platform for new cars was developed by Hyundai Motor CIS and presented on December 01, 2020. The first car of the brand, bought completely online on the new site, was handed over to the client a week after the launch of the platform.

Managing Director of Hyundai Motor CIS Alexei Kalitsev also noted that over 3,100 people used Hyundai Mobility's subscription, the number of client companies of the Business Mobility program exceeded 80 organizations.^[2]

GM received 6.3 billion rubles in loss from the sale of Hyundai assets in the Russian Federation

General Motors Auto LLC registered a loss of 6.3 billion rubles from the sale of the assets of the automobile plant in St. Petersburg to the South Korean company Hyundai. This is stated in the reports of the Russian representative office of General Motors. The data were released in April 2021. Read more here.

Data from 1.3 million Russian owners of Hyundai cars put up for sale

On January 11, 2021, it became known about the data leak of 1.3 million Russian owners of Hyundai cars. The database, which is sold on shadow forums, contains full names, phones, email addresses and home addresses of the automaker's customers, as well as information about the vehicles they bought, parts orders and participation in the brand's marketing activity. We are talking about the data of users of the site hyundai.ru.

Ashot Hovhannisyan, founder of the DLBI data leak intelligence service, said in a conversation with Kommersant that the database with Hyundai customer data is sold for about $2,000 and, judging by the widespread "probes," has no signs of compilation. According to the expert, the seller of the database has a high rating and has not previously been seen selling fake data. Hovhannisyan clarified that the latest data on user operations contained in the "probes" of the base date back to 2019.

Data of more than 1 million Russian owners of Hyundai cars put up for sale

As Hovhannisyan suggested, the database is a "dump" (snapshot of information) of the SQL server serving the website of the Russian office of Hyundai, so it is likely that the source of the leak was a vulnerability in this server found by an automatic scanner, or a backup copy of the data that the attackers accessed. The seller has many ads in which he offers databases of other companies in the same format, so, most likely, the hacker massively scans vulnerable networks, "chooses those that are more frequent" and exploits vulnerabilities, added KELA analyst Victoria Kivilevich.

The introduction of arbitrary SQL code into a web resource request is one of the common types of attacks for hacking sites and programs that process and store data, adds Alexey Kubarev, head of the business development group of the Solar Dozor product center at Rostelecom-Solar. Probably, the data of hyundai.ru users leaked as a result of just such an attack, he believes.^[3]

2019

Creation of Hyundai Mobility Lab

In September 2019, the Russian representative office announced the creation of Hyundai Mobility Lab and its placement in the Skolkovo innovation center. Read more here.

Rejection of paper service books in favor of electronic

On August 5, 2019, Hyundai announced a complete rejection of paper service books in Russia in favor of electronic ones. All information on car repair will be stored in a single IT system.

Hyundai Motor CIS stopped issuing paper service books from August 1, 2019, and previously issued documents will be valid until the end of the vehicle's service life.

This is how the Hyundai electronic service book looks like

All information about the client's visit to Hyundai dealerships (for example, car mileage and a list of works performed) will be collected and processed by the automated Workshop Automation system, which is a single information environment for the entire dealer network. The owner of the Hyundai car will be able to access service data in his personal account of the Mir Hyundai client platform. 

The automaker notes that the electronic service book is a format of service for car owners, which is available everywhere if you have access to. Internet The service story makes it possible to get all information about the car in digital form and makes the purchase of the car on the secondary market transparent, since you cannot fake data on the passage of maintenance, as in the case of paper media. This, in turn, can make Hyundai cars more liquid in the used vehicles market.

Hyundai has abandoned paper service books in Russia. Car repair data transferred to IT system

To obtain a printed version of the electronic service book, Hyundai uses verification through a confirmation code from an SMS message. Car information from the service can be printed, saved in a PDF file, or sent by email.

Hyundai is not the first automaker to launch an interactive database in Russia that stores the car's service history. Mazda did so a few years earlier and offers a service for each of its vehicles registered after July 2006.^[4]

2017-2018

• The second generation of the Hyundai Solaris model was presented on the Russian market in February 2017.
• In July 2016, the company presented the Hyundai Creta compact crossover, which has been the permanent leader in the SUV segment since the first months of sales.
• As of September 2017, the Hyundai Motor CIS dealer network includes more than 140 dealerships.
• Since its inception, Hyundai Motor CIS has increased sales from 80,000 to 170,000 vehicles per year.
• In 2018, this figure was 178,269 units. The company's lineup includes 8 models. The company actively participates in the life of Russian society, implementing various social projects.

2010: More than 600,000 Hyundai cars sold in Russia

The KHMMR plant produces a new model of the Hyundai Solaris car, developed taking into account the requirements of Russian consumers.

By September 2010, more than 600 thousand Hyundai cars were sold on the Russian market.

Notes