ID :
183135
Thu, 05/19/2011 - 13:00
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https://oananews.org//node/183135
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Hyundai Motor Group's China market share hits 2-year high
(LEAD)HONG KONG, May 19 (Yonhap) -- South Korean automaking giant Hyundai Motor Group said Thursday its share of the Chinese market hit a two-year high in April on strong sales of its new models in the world's most populous country.
Hyundai Motor Group, which includes South Korea's top automaker Hyundai Motor Co. and second-largest Kia Motors Corp., held a 10.4 percent share of the Chinese market, where 1.55 million vehicles were sold last month, company officials said.
The figure, the highest since May 2009, was up from 9.3 percent a year earlier.
Hyundai Motor grabbed a 6.9 percent market share, compared to 6.4 percent a year earlier, while Kia Motors's share was 3.5 percent, up from 3 percent.
The growth was largely attributed to the successful launch of two new car models: Hyundai's YF Sonanta and Kia's K5. Hyundai and Kia saw their sales increase 12.1 percent and 22.2 percent in April, respectively.
Meanwhile, three major Japanese automakers -- Toyota Motor Corp., Honda Motor co. and Nissan Motor Co. -- saw their combined market share fall to 16 percent last month from 19.9 percent a year earlier due, due to the supply delay caused by the earthquake that hit the country in March.
Global credit rating agency Moody's Investors Service said later Thursday that Japanese car makers, with their heavy exposure to local parts suppliers, will continue to suffer greater production losses.
"American and Korean automakers may gain market shares at the expense of Japanese auto manufacturers," it said.
Hyundai Motor Group, which includes South Korea's top automaker Hyundai Motor Co. and second-largest Kia Motors Corp., held a 10.4 percent share of the Chinese market, where 1.55 million vehicles were sold last month, company officials said.
The figure, the highest since May 2009, was up from 9.3 percent a year earlier.
Hyundai Motor grabbed a 6.9 percent market share, compared to 6.4 percent a year earlier, while Kia Motors's share was 3.5 percent, up from 3 percent.
The growth was largely attributed to the successful launch of two new car models: Hyundai's YF Sonanta and Kia's K5. Hyundai and Kia saw their sales increase 12.1 percent and 22.2 percent in April, respectively.
Meanwhile, three major Japanese automakers -- Toyota Motor Corp., Honda Motor co. and Nissan Motor Co. -- saw their combined market share fall to 16 percent last month from 19.9 percent a year earlier due, due to the supply delay caused by the earthquake that hit the country in March.
Global credit rating agency Moody's Investors Service said later Thursday that Japanese car makers, with their heavy exposure to local parts suppliers, will continue to suffer greater production losses.
"American and Korean automakers may gain market shares at the expense of Japanese auto manufacturers," it said.
