Hyundai Motor Group (HMG), which produces both the Hyundai and Kia brands, is to expand its commercial-vehicle (CV) operations for the low-volume, high-margin truck and bus sector.

The South Korean automotive manufacturer’s CV market share is capable of strong growth, according to a report by Frost & Sullivan.

Silpa Paul, senior research analyst at the consultancy, said: “With a largely untouched overseas market, the company’s CV shipments will more than double over the 2014-2022 time period.

"Although HMG is a relatively unknown force in the CV market, strong brand value — combined with design and feature-addition marketing strategies — will catalyse its growth globally.”