(MENAFN- Qatar News Agency) Oul August 04 (QNA) - The global market share of South Korean automakers Kia and Hyundai is up to 9.1% in the second quarter of 2014. New model launches have propelled growth a Yonhap news agency report said Monday citing industry sources. According to the automakers and findings by US-based LMC Automotive their combined market share topped the 9% mark for the first time in three quarters. The highest market share so far was 9.4% reached in the fourth quarter of 2012. In the three-month period 21.98 million cars were sold worldwide with sales of Hyundai and Kia hitting just over 2 million units. The automotive market information provider and company sources said popularity of Hyundai's brand new Genesis premium sedan and its Sonata midsize car unveiled in late 2013 and early this year respectively fuelled demand. SUVs made by the carmakers along with demand for steady sellers such as Kia's Soul boxy car and Optima sedans buoyed numbers as well as recognition for quality design and value by various automotive evaluators and media outlets they said. Hyundai and Kia's strategy to build cars designed for large emerging markets such as China India Russia and Brazil boosted their sales. For the first half of this year combined market share of the two companies stood at 8.7%. (QNA)
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.