Hyundai, Kia to log largest U.S. market share in May: report

SEOUL, May 26 (Yonhap) -- South Korea's leading automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to register their largest-ever market share in the U.S. in May amid setbacks suffered by their rivals in quake-hit Japan, an industry report said Thursday.
According to the report by TrueCar.com, an automotive solutions and information provider, the combined sales of Hyundai and Kia are forecast to reach 115,434 this month, up 43.4 percent from a year earlier.
The increase in sales will put their combined market share at 10.9 percent, only behind General Motors Co. with a 21.3 percent market share and Ford Motor Co. with 17.8 percent, the report said.
Toyota's U.S. market share is expected to fall to 10.3 percent in May from 14.8 percent a year earlier with that of Honda also forecast to dwindle from 10.6 percent to 8.8 percent, it said.
Hyundai and Kia are flagships of the world's fifth-largest automotive group Hyundai Motor Group that has some 70 other affiliates, including South Korea's leading auto parts maker Hyundai Mobis Co.
Their combined market share in the U.S. in May 2010 was 7.3 percent, the seventh-largest after those of Japan's Toyota, Honda and Nissan.
The boost in sales of Hyundai and Kia apparently comes from large setbacks among their Japanese competitors. The U.S. company, however, said the Japanese manufacturers will make a comeback sooner than expected.
"Inventory constraints finally hit the Japanese automakers this month, but the recovery in supply appears quicker than first anticipated," it said.