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Hyundai Motor’s U.S. market share recovers

May 07,2019
The combined market share of Hyundai Motor and affiliate Kia Motors in the United States hit the highest levels in two years on the back of strong demand for SUVs, industry sources said Monday.

According to the sources, Hyundai and Kia logged a combined 8.2 percent share in the world’s No. 2 auto market in April, the highest in two years.

Hyundai Motor saw its U.S. market share rise 0.4 percentage points from a month earlier to 4.3 percent last month, with the comparable figure for Kia being 3.9 percent, up 0.1 percentage points.

Hyundai Motor sold 57,000 units in the United States last month, up 1.7 percent from a year earlier. Kia’s sales increased 1.6 percent to 51,300 units over the cited period, the data showed.

Kia Motors saw strong sales of the Telluride SUV, with sales exceeding 5,000 units for second month in a row.

Kia currently produces the Telluride at its U.S. plant for sales in North American markets only. Since its launch in February, its accumulated sales have reached almost 20,000 units, according to the sources.

Despite stronger-than-expected results in the United States, the two automakers suffered an extended slump in other markets.

Last month, Hyundai sold some 297,500 units in overseas markets, down 9.3 percent from a year earlier. Kia suffered a 2.5 percent drop in its overseas sales to 185,700 units last month.

The main cause for the slump was their worst-ever performance in China.

Yonhap



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