Hyundai-Kia Post Record Sales in March

      April 02, 2014 12:29

      Hyundai and affiliate Kia sold 703,534 cars in the global market last month, setting a new monthly record.

      A Hyundai spokesman on Tuesday said domestic sales last month totaled 431,532 cars, up 10.6 percent from the same period of 2013. Kia saw a 15.2 percent increase on-year to 272,002 cars.

      Their previous combined sales record was 678,000 in November 2012.

      The surge was attributed to nascent economic recoveries in the U.S. and Europe and expanded production facilities in China.

      Hyundai expanded a plant in Beijing early this year to be able to roll out 150,000 more cars, while production began at Kia's third plant in Yancheng, Jiangsu Province to meet rising demand for its cars in China.

      On top of that, the popularity of new models like the new Genesis and Grandeur hybrid released late last year played a role in boosting sales, according to analysts.

      Kia sold 613 of its 2014 K9 large sedan in March, achieving an 18-month high in monthly sales.

      Meanwhile, Korea's five automakers -- Hyundai, Kia, GM Korea, Sssangyong and Renault Samsung -- sold a combined 121,416 cars here last month, up 2.7 percent on-year.

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