April 13, 2015 10:50
Hyundai and affiliate Kia's combined share of the U.S. premium car market has risen above 10 percent for the first time thanks to strong sales of the Genesis large sedan.
According to Autodata, the two firms sold 7,566 Genesis, Equus and K9 premium sedans in the U.S. in the first quarter, up 106 percent on year, to account for a market share of 10.4 percent in the segment.
The three models made up just five percent of their U.S. market segment in the first quarter last year, while the carmakers overall occupied 7.9 percent of the entire U.S. market last year.
The Genesis, which hit U.S. showrooms in April last year, played a pivotal role, selling 6,656 units in January-March, which is up a whopping 251 percent from a year earlier. That puts it at No. 3 just behind BMW's 5 Series and the Mercedes-Benz E class.
But sales of the Equus and K9 (U.S. name K900) stood at only 641 and 269 units, respectively.
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