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Hyundai-Kia Grabs Record Share of U.S. Market in August
Hyundai-Kia Automotive Group captured its largest-ever monthly share of the U.S. auto market in August, despite falling sales. According to market researcher Autodata on Thursday, Hyundai Motor sold 53,600 cars in the U.S. last month, down 11 percent from August last year, and Kia Motors 32,500 vehicles, down 19 percent. While their sales fell, they experienced smaller drops than their rivals. The two accounted for a combined 8.62 percent share -- 5.37 percent for Hyundai and 3.25 percent for Kia. It was their third consecutive month of market share growth. Overall sales of automobiles dropped drastically in the U.S. last month. GM posted a 25 percent decline in sales and Ford 11 percent. Japanese carmakers were hardest hit, with Toyota seeing an 11 percent fall, Honda 33 percent and Nissan 27 percent. Hyundai's new Sonata defied the trend, with sales increasing by more than 3,500 from July to some 21,400 in August. It was the fourth most popular sedan in the U.S. last month, beating the Toyota Corolla and the Nissan Altima. The Kia Sorrento R also performed well, selling 9,038 units, the highest since its debut. Posted by: Fred 2010-09-04 |
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