Hyundai-Kia’s share gains overwhelms rivals

Article by Christian Andrei, 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

More positive news has been pouring in before the year ends. For those who have been waiting to hear the latest word on Toyota 86, we have some great news....
by - December 10, 2016
Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
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