Hyundai-Kia Grab Record Market Share in U.S.

      May 06, 2011 10:41

      Hyundai-Kia Automotive Group posted record sales in the U.S. last month with their market share exceeding 9 percent for the first time. The group said Wednesday they sold 108,828 vehicles there in April, accounting for 9.4 percent of the market, up 0.9 percentage point from March. They outpaced Nissan to rank 6th in the U.S., which saw total sales of 1.16 million vehicles in April.

      Mainly thanks to a sharp rise in local production, Hyundai Motor America's sales surged 40 percent on-year to 61,754 vehicles in April, and Kia Motors America's 57 percent. Models manufactured at the carmakers' U.S. plants, such as the Sonata, Elantra and Sorento R, pushed up the market share.

      Meanwhile, the imported car market in Korea continued to see brisk sales. The number of foreign vehicles sold here totaled 8,204 in April, up 13.8 percent on-year although lower than the 20.3 percent in March when the figure surpassed a record 10,000.

      According to the Korea Automobile Importers and Distributors Association, 33,923 imported cars were sold from January through April, up 25.1 percent from the same period last year.

      BMW was the top-selling brand for the third straight month with 2,253 vehicles in April, followed by Mercedes-Benz (1,339), Volkswagen (1,062), Audi (749) and Toyota (403). Models with engines smaller than two liters sold the most, accounting for 42.6 percent of the total sales with 3,499 vehicles.

      "With the average age of buyers dropping, sales of foreign cars in the low- to mid-price range of less than W40 million are increasing sharply," a spokesperson at the association said (US$1=W1,075).

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