Hyundai and Kia Hit Record Low in Their Home Country

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Hyundai and Kia Hit Record Low in Their Home Country

Things are looking a little rough for Hyundai and Kia in their home market. Even with their foreign performance aside, for the first time in history the Korean manufacturers have slipped below a 60% market share in their own domestic market. Part of this is due to a decline in output due to labour strikes, as well as a strong rise in the sales of foreign automotive products. The current combined market share of the two sits at 58.9% according to industry data from last Friday.

Even if we look at locally produced foreign products, the combined total market share sits at 26.7%, with fully imported cars coming in at 13.9%. Other small local rivals are becoming fiercely competitive, snapping up market share in the wake of Hyundai and Kia's decline. This year is the seventh in a series of year on year decline for the two brands, starting at 80% in 2009, to 67.7% through 2015, and now down to 58.9%. Data and information are sourced from Yonhap. 



Aswan

Aswan

Writer

Places more value in how fun a car is to drive than outright performance or luxury. He laments the direction that automotive development is headed in, but grudgingly accepts the logic behind it. Can be commonly found trying to fix yet another problem on his rusty project car.


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