Hyundai-Kia’s share gains overwhelms rivals

Article by Christian A., on August 26, 2010

All eyes are on the competition between Hyundai-Kia and Japanese automakers as the South Korean carmaker gains a larger market share and the yen climbs even further.

Hyundai-Kia benefits largely from South Korea's export-friendly trade pacts, giving the Japanese companies more to worry about. Despite the economic crisis, Hyundai continues to be profitable. 

In fact, Hyundai Motor Co. and its affiliate, Kia Motors Corp., have generated such a high number of sales in the first six months of the year that they have overtaken Ford Motor Co. to become the world's fourth-biggest automaker.

Japanese carmakers are particularly concerned with the rise of Hyundai-Kia since they compete in the same markets.

There's also the issue with timing. While South Korea has announced its full support for the export industry and had signed a tentative trade pact with the European Union last month, Japan has gone the other way. South Korea continues to add to its list of more than 40 free-trade agreements (FTAs).

On the other hand, Japan has less than a third of those FTAs, mostly in Asia. The South Korean government has made it easier for Hyundai to sell to various markets around the world.

As a result, Hyundai has gained a significant market share this year as the governments put emphasis on cars that produce less pollution such as its Elantra and Accent models.

Topics: hyundai, kia, shares

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Cadillac’s CT6 full-size prestige-luxury sedan is still somewhat new. It has been offered to the global auto market for two model years – 2016 and 2017. But for those who...
by - February 19, 2017
In many industries, it is the rivalries that make things exciting. In basketball for example, there is the well-known rivalry between the Los Angeles Lakers against the Boston Celtics. For...
by - February 19, 2017
Now on sale in several major markets around the world including Europe, the BMW 5 Series (G30) heralds the arrival of the new seventh generation and represents a whole new...
by - February 19, 2017
Just recently, it was speculated that a new Porsche Cayman GT4 RS is coming. There is no official confirmation yet from the German sports car maker, but the arrival of...
by - February 18, 2017
Will there be a BMW M4 CS? Apparently, there is a Club Sport version of the BMWM4 after it was sighted in California doing a shoot for a new commercial...
by - February 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries