Monday, May 19th, 2014
SEOUL, KOREA - Hyundai Motor and Kia Motors were ranked No. 2 in the Chinese automobile market for the first four months of this year, overtaking GM. It remains to be seen whether the Korean auto makers will regain the second-largest car manufacturer position after five years. Hyundai and Kia said on May 18 that they sold a total of 582,890 cars in the four-months period from January to April this year.
This is 10.1 percent higher than the same period last year. Their combined market share has increased 0.2 percentage point to 10.6 percent. Meanwhile, GM of the United States took the third place with 576,143 cars sold. The Chinese automobile market is currently led by the perennial frontrunner Volkswagen with 20 percent of share while the second place is fiercely contested by Hyundai/Kia and Volkswagen. Volkswagen during the four-month period sold 1,253,000 vehicles, up 23.4 percent from the same period a year ago, widening the gap with the runners-up.
The Korean car makers had long been behind GM until it took the No. 2 position for the first time in 2009 when it opened the second assembly plant in Beijing. This year, it is likely the Korean auto manufacturers will regain that position, on the back of the popularity of Verna (Accent in domestic model name), Yuedong (Avante HD), Langdong (Avante MD) of Beijing Hyundai and K2 and K3 of Dongfeng Yueda Kia.