Trade Resources Company News South Korea Based Hyundai Motors and KIA Motors Have Jointly Captured a 10.4% Market Share

South Korea Based Hyundai Motors and KIA Motors Have Jointly Captured a 10.4% Market Share

South Korea based Hyundai Motors and Kia Motors have jointly captured a 10.4% market share in China during 11 months until November 2012.

During the initial 11 months of the year, both firms reported a 12.7% increase in its sales to 1,198,194 vehicles compared to overall sales of 1,172,318 units in 2011.

The continuous sales of models like the Langdong subcompact and the K3 reported to have given a boost to sales, trailing behind other automakers like Volkswagen and General Motors, according to yonhapnews.co.kr.

The combined market share of both the firms has reached the 10% for the first time since Hyundai established Beijing Hyundai in 2002.

Kia's third Chinese plant is expected to be completed by 2014 and raise Hyundai and Kia's combined production capacity to 1.74 million units per year from 1.44 million in 2012.

Source: http://www.automotive-business-review.com/news/hyundai-kia-capture-10-share-in-chinese-car-market-241212
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Hyundai, Kia Capture 10% Share in Chinese Car Market
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