Grip tightens on top sedans

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Grip tightens on top sedans

Korea’s top automaker Hyundai Motor and its smaller affiliate Kia Motors accounted for almost 90 percent of the domestic premium sedan market last month, in the latest sign of their market dominance.

The two flagship companies of Hyundai Motor Group, the world’s fifth-largest carmaker, held the lead in the domestic premium sedan market with an 89.2 percent market share in September, up 4 percentage points from the previous month. Their market dominance comes as Hyundai Motor and Kia Motors posted robust sales of Grandeur, Genesis and Equus, as well as the K9 and K7.

Hyundai Motor sold a total of 7,086 Grandeur sedans in Korea in September, followed by its Genesis with 1,946 and Kia Motors’ K7 with 1,159.

Renault Samsung Motors saw its share of the premium sedan market fall to 6.5 percent in September, from 9 percent the previous month. GM Korea sold only 492 Alpheon luxury sedans, lowering its market share to 3.2 percent from 4.7 percent.

Yonhap

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